Account allocation in invoicing
Hi I have been asked to help a friend reconcile her dads bank accounts for their electrical business. I have noticed that in their invoices to customers, they have applied all materials used in the j...
Forum Discussion
Hi JackieDep , thinking of a business which sells labour and materials, both of these line types would be allocated to an income account on the sales invoice, so what's been done in the file seems right to me.
If the item is inventoried, then behind the scenes AccountRight will transfer the cost of materials from the inventory (asset) account, to the cost of sales account. You can see the complete transaction journal by opening the invoice and select Edit, Recap transaction.
