How to Handle Product Sales in the Bee
Monday, July 18th, 2011 -
10:37 am -
Accounting / Bookkeeping, B2Bee Press
The Bee was built to serve the invoicing and bookkeeping needs of service businesses and freelancers. However, its common for a service business to also sell some tangible items from time to time (ex. hardware, supplies). Here are some tips on how best to handle product sales in the Bee.
* Invoice your clients for products you sell by setting up “items” in the Bee.
* From Setup, add a new Books account, “Cost of Sales”.
* At the end of the month, make a Books General Journal entry to record what you paid for the items you sold.
* Print a Profit and Loss report to show your profitability and the effect of Cost of Sales.
