Postby emm » Wed Nov 02, 2016 5:02 pm
Hi,
You can record stock items in an Assets account i.e. inventory, and then move some or all of the amount from Asset Account to an Expense Account such as Repairs & Maintenance Account:
When you purchase Stock
Create bill in Property Manager --> Expenses
In 'Account' field select the Asset Account (Inventory)
2. When you Use / Utilise that stock, create a Journal entry in Account Manager --Journal
Debit: Repair & Maintenance Account
Credit: Inventory Account
Regards.