Hello Everyone,
I am new here and for SAGE. I need some hand holding here.
I am buying unique stuff that I am going to sell. So it is not the kind of regular inventory to be stored.
I get the order from my customer, then place order to my vendor, get it from vendor and sell it to the customer.
So I had the vendor setup. Also, I had an account for my vendor in 1520 Inventory, so I can trace each vendor.
Then named 5020 COGS after the vendor, so I can track the cost from him. (Or so I thought!).
Then named 4020 Sales account after him, So I can track sales from his vendor.
(I am not sure whether my idea is right.)
When I input the purchase from this vendor, I name the unique name for item to help the inventory. In the linked account, what are the two accounts I have to link?
(Asset and COGS accounts)
Then when I sell, in the invoice, I select the item from the inventory, put my price and other details. But what account I have to choose in the invoice?
Is it 4020 Vendor A?
Any help will be appreciated. I tried to check the archive with no success.
Thanks
George