Non-income line items
Hi, I will be adding line items for things like tax and shipping, which are not meant to be accounted for under either "fees income" or "sale of goods". Is it possible to add line items for these things without having them accounted for as income?
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Support Staff 1 Posted by Admin on 17 Apr, 2012 03:30 PM
If you are charging your customer for shipping, you should probably account for it as income. I'd suggest making an income account for this.
When you pay for shipping, this will appear as a separate transaction linked to an expense account which you may also need to create. In my accounts this is called "Postage & stationery".
You will show an equal value in the expense account and the income account if you charge the same amount for shipping. But this more accurately reflects the total income in the business I think.
Mathew
Admin closed this discussion on 17 Apr, 2012 03:30 PM.