Retail shop needs to use merchandise for own use, how to deal with it in Tas Books 3
My business is a retail shop, we sell IT products and consumables such as printer paper, ink, thermal rolls etc. Occassionaly the business needs some of these consumables for its own use. What is the best way to deal with this scenario from an accounting point of view?
We use Tas Books 3 as our accounting package.
Group: TAS Books discussion group
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Journal items to P&L
Not sure about the specifics of TAS 3 but journal the cost of the items taken from stock to consumables
eg Dr Consumables (P&L)
Cr Stock (BS)