Hello
I want to record Purchases of Inventory into stock and then Sales to drive Direct expenses to get real margin.
The system only allows me to book Purchases to Stock or directly to COS. IF I book to Stock then when I sale the product is not driving Debit in the P&L showing 100% margin which is incorrect. The other option I have is to record purchases straight into COS which is also incorrect showing a loss every time I buy Inventory.
I want to see:
Purchase of Inventory
Dr Stock
Cr Bank/Cash
Sales of Inventory
Cr Sales
Dr COS
Cr Inventory
Dr Bank/Cash
How can I do this in Sage Accounting (cloud)
Thanks a lot for your help