Recording purchase of stock and sales

info's Avatar


20 Mar, 2014 02:02 PM

Mac OS X using Easybooks 3.1.13

Dear support,

I have a question about recording my sales from a shop. I ran a pop-up shop at Christmas, selling xmas trees, gifts and decorations etc. I had a till in the shop but it was only programmed with general categories rather than PLU (product look up) codes for every individual product we stocked. I want to record the sales from each day based on the till z reports so cash sales and card sales. On the purchases side should I enter the purchases of stock into the cost of sales account? With supplier and invoice number.

It would also be useful to enter the stock we purchased in the stock screen to create an inventory and record the final stock we were left with. I noticed that this is linked to asset and expense accounts though. My till reports didn't itemise every individual stock item as they were broadly grouped into categories. No. of items sold was measured by weekly stock checks. Also as we were selling xmas trees the sale prices were not always fixed and often negotiated with the customer especially in the final run up to Xmas! Likewise with the decorations, lights etc in the final week with heavy discounting. It would be good to use the stock screen but I don't really know the best way forward. Please can you advise?!

Many thanks,

  1. Support Staff 1 Posted by Admin on 24 Mar, 2014 04:14 PM

    Admin's Avatar

    Hi there,

    I'm not sure what to advise you for the best, but I can give you an idea. See if it works for you. This is what my wife does in her business ( She doesn't use the products (stock/services) feature in Easy Books for similar reasons to yourself. Instead here is what she does.

    When buying stock she adds a transaction into the asset account "Stock" which is under the category "Other Assets & Liabilities". This increases the stock (and note this doesn't affect the P&L figure).

    When selling stock she adds a transaction linked to an income account. She uses a few income accounts to keep track of where the sales came from. In her case it's important to know whether the sale was from a "basket sale", an event or from a brochure. Note this does affect the P&L figure, which increases with each sale.

    To properly account for the stock being sold she does a stocktake. She just calculates the value of stock left and compares it to the balance in the "Stock" account. Then she adds a transaction between the Stock account and the Cost Of Sales account for the difference, so that the Stock account shows the correct value. This then decreases the P&L figure. I would suggest this is probably easier for you as you could just run a stocktake at the end of trading (or weekly - whenever you want to really).

    I hope that helps,


  2. 2 Posted by info on 25 Mar, 2014 12:03 PM

    info's Avatar


    Thanks for your detailed reply. This is just the information I was
    looking for. I was thinking of creating 2 income accounts - one for
    credit card sales and the other for cash sales. We put through thousands
    of transactions even though it was a short trading period so I think it
    would probably be best if I add transactions as a daily summary from the
    till z reports - I assume this is what a lot of shops do?? For the stock
    I'll do what your wife does and add transactions between stock account
    and cost of sales.

    Thanks again,

    Alex Bluffield

    Old Crocks Vintage Hire
    for Weddings, Events and Special Occasions

  3. Admin closed this discussion on 25 Mar, 2014 05:30 PM.

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