Hi,
I'm trying to setup Sage 50 and I'm becoming more and more confused! I do use Sage at my day job for entering payables and receivables, so I'm familiar with a lot of the program, but not familiar how to set it up to use for my side business making soap.
Since I make soap I buy ingredients, mix them up, and sell the finished product. So far I've set up COGS for every ingredient I buy (plus shipping), and matching accounts for Inventory Assets, as well as set up the General & Admin Expense accounts.
Now, the confusion starts when I try to enter a purchase invoice for something that is not an ingredient (inventory), when I click on the Report option to see if it's posting it tells me No Data To Report. So I'm assuming it won't debit any of the COGS accounts until I build something and enter a sale? Is that right?
All I really need Sage to do for me right now is tell me how much money I'm putting into the business versus how much I'm getting out (purchases and sales). This is only my second year (last year I just handed all my receipts to an accountant at the end of the year so I didn't have to deal with any of this!), and I'm very very small (I have 2 retailers) and I'm not planning on being profitable so I don't REALLY need to track all my inventory at this time. Should I set up Sage differently? I used the wizard so I'm not even really sure how I got all these accounts and processes....
I know I should be taking a course to learn the ins and outs, but I'm hoping I can get enough help here to get me going in the right direction. So, thank you in advance if you can give me a hand!