Cash Purchase , Freight for the Purchase

Hi g3charm,

There are many different ways to record transactions for imported items. If you want them to be part of the item cost, you generally need to include the cost for Nigel forwarders in one transaction. In this case, I recommend seeking advice from an accountant, as the recording method might vary depending on your use case.

Regards,
Genreve

Hi Genreve, Thank you for your response. I am an aspiring Accountant , pursuing Master of Professional Accountancy at Massey University. This is for an assignment and unfortunately myob community only can assist me. 

If i include the cost of Nigel forwarders in one transaction . Should it be Bill and then record payment ( item cost + freight )  or spend money . I feel it has to bill only then correct cosgs will be affected as i am tracking inventory for 2 different items.

Kindly advice. Thank you for your assistance .

Hi g3charm, 

Yes creating a bill makes sense in your use case. Here are two main differences between "Spend Money" and "Purchase + Payment" transactions:

1. Recording Method: Spend Money transactions are recorded directly to the bank account. In contrast, with Purchase transactions, the payment and bill are separate, meaning that the debit first passes through trade creditors.
2. Effect on Inventory Values: Spend Money transactions do not directly affect inventory values. On the other hand, Purchase transactions can include items which will affect inventory if necessary.

For more info check out these articles: 

• Entering bills
• Paying bills
• Spend money

Hope this helps!

Regards,
Genreve