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how do i handle items that can fall into both an expense and income account?
11/2/09 1:02 PM, Viewed by asker 11/9/09 11:28 AM
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Total Views: 64
I have items that fall in more than one group.
Ex: Flat Washers used in securing my vice to the table (parts purchase, shop Expence) & Flat Washers used in a customers job and billed to them (parts purchase, Parts for resale) how do i handle this?
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Solved!
11/3/09 9:59 PM
When you set up this item, as long as it isn't an inventory item, there is a box to checkmark that it is purchased or provided by an outside supplier. This creates a "two-sided" item. On the left you link the purchase to the expense account. On the right, you link the sales to an income account.
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I think i am asking the wrong question. I will think on it and get back to you. Marking this solved. Thank you so much.