Someone help me. I buy and sell items on the same day. I purchase same items with some supplier and sell it to few customers. I knew there is non-inventory items to use for my business but i prefer inventory to keep track the items i sold to whom. i enter the purchase price in the purchase invoice and the selling price in the sales invoice. but, i the profit and loss statement, i noticed that the inventory sales took the sales price, but for the expense, it is not showing the purchase price. even the balance sheet shows my retained earning is too high. can someone help me?
suppose the inventory cost should take my purchase price. isnt? or am i wrong? if im wrong, how to make it correct to show the purchase price in the expense?
I tried it. But still cant. i want to know why my purchase items unit price is not showing in the PnL? How to make sure the purchase invoice amount as expense in the PnL?
I want to ask that only i clear all inventory on hand or sell all items in the inventory, at the end of month, it will show the purchase price as expense? because i tried just now that i made sell all items for the month january, the inventory cost now shows correctly. for the month february, i have some items in the inventory, the inventory cost shows not equal what i expected. try to click the google doc below as im new user, i cant attack more than 1 file.
I explain my business here. I buy vegetable from different supplier at different price and sell it to different customer at different price and i wont hold any inventory at the end of the day. So, i can’t choose non-inventory because it doesn’t let me click the inventory item like click a vegetable and see the sales and purchase of it. So, it would be better if i do it in inventory item to track to whom i sell and which price. i can easily track the items from which supplier i bought. I want like when i buy items from supplier i key in the price, it should reflect in the expense as COGS. when i sell in the sales invoice, it should reflect in income as sales. can you guide me on that.
Also unless you are using Goods Received Notes and Delivery Notes you should have the Act as Goods Receipts and Act as a Delivery Note ticked on your Purchase and Sales Invoices respectively
