Accounting for complete sales

Completed sales

Completed sales are your regular sales where products are exchanged for money. This can be either cash or card payments.

Here is how your completed sales will impact your accounts

Sales Account – Increases (by the sales amount)

Cost of goods sold – Increases (by the amount to buy or make the product. Example is Supplier Price)

Inventory Account – decreases (our products in stock reduce)

Cash Account - Increases (by the sales amount)

 

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