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What do I do with finished products that have been damaged, e.g. by sunlight? How do I record this in my accounts?
Chris
What do I do with finished products that have been damaged, e.g. by sunlight? How do I record this in my accounts?
Chris
You don't need to do anything special. They are included in your accounts as a cost, so that's fine.
They are no longer included in your accounts as turnover, but you will not be issuing a sales invoice for them either, so that is also fine.
It is simply a smaller margin between your purchases of trade goods and your sales of products. But that is fine, part of that margin is simply that things break from time to time.
You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.