I buy beading, wood, paint, canvas, etc. craft supplies and depending on who the vendor is and if the item is on sale how do I price. Also, some businesses give bonuses for loyalty. They may invoice me for 25 beads and ship me 200. I obviously enter the inventory at 225, but at the 25 price or calculate it out to 225?
Hi Wendy, this is really a question for a CPA, but the software you use can make this is an easy problem to solve. Many accounting solutions, including LessAccounting for example, work with CPAs to build tools that enable them to manage all of their client accounts online. When consulting with a CPA, find out what software they use and whether this is a viable option for your business.