Galen
09-02-2007, 06:07 PM
Hi,
When I order products from my supplier, I pay using Visa. When I receive the invoice, the following is on the invoice:
1. Product Cost- 100.00
2. Freight Charge- 10.00
3. GST- 6.60
4. PST- 8.80
5. Total- 125.40
How is the freight inputed or recorded? Should it be in a seperate account and if so should it go into Cost of Good Sold account(should it be a sub-item of Purchases in chart of accounts-cost of goods sold account) and why? Is there already a default cost of goods sold for freight in Retail Industry chart of accounts by chance?
If so, where do I enter this information in QB Pro?
Thanks,
Galen
When I order products from my supplier, I pay using Visa. When I receive the invoice, the following is on the invoice:
1. Product Cost- 100.00
2. Freight Charge- 10.00
3. GST- 6.60
4. PST- 8.80
5. Total- 125.40
How is the freight inputed or recorded? Should it be in a seperate account and if so should it go into Cost of Good Sold account(should it be a sub-item of Purchases in chart of accounts-cost of goods sold account) and why? Is there already a default cost of goods sold for freight in Retail Industry chart of accounts by chance?
If so, where do I enter this information in QB Pro?
Thanks,
Galen