posted on May 19, 2001 11:41:34 AM
Just got it today and wow! Got inventory, checking, and a/r done and was excited. Then I realized when I put total $ rcd it included postage. Not really sure how to include this in expenses. Im sure their is a super easy way to do this but its going right over my head! Any suggestions is appreciated.....
Lori!
posted on May 19, 2001 12:02:40 PM
What you need to do is set up an income catagory entitled " postage " or something like that. When you go to post a payment, you deduct postage, enter the payment, then recieve the postage payment under your postage catagory. This gives you a clean and accurate income total in your reports. It is a pain in the butt, but it's the best way I've found to do it.
posted on May 19, 2001 01:32:42 PM
You could title your income as "shipping income" and your expenses as "postage" and "shipping supplies." You'll get a clearer picture of what your items are selling for (actual auction price) and what your profit is. You'll also be able to see if you need to increase your shipping charges to cover actual shipping expenses.
Shipping and any other fees you collect from the buyer are reimburable expenses. They are tracked as income, then later subtracted as expenses (ie shipping, insurance, etc). I learned how to set this up using Quickbooks help files under reimbursed expenses (or something like that). If you need some help feel free to email me.
