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I sent a gift package consisting of my own products to a customer as a promotional gift. How do I enter this cost in my accounts? And what about samples that I give out to potential customers as PR?
I sent a gift package consisting of my own products to a customer as a promotional gift. How do I enter this cost in my accounts? And what about samples that I give out to potential customers as PR?
I am not an expert in promotional gifts. But I believe you cannot invoice yourself. You can, of course, submit the invoices for your raw materials and possibly recover vAT.
That is already included in your accounts, because you have already made the purchases of those products. Just enter them as publicity when you make the purchases, I would say?
The question is therefore whether it is justified to 'disappear' stock to trade goods as promotional gifts or for promotional purposes.By extension, the same applies if you sell consumables that you also use yourself. For example, how do you record it if you take pens from the sale inventory and use them yourself?
This may lead to the next question. What if the stock count shows that items have disappeared? Does this need to be reported somewhere, or is updating the stock sufficient?
I suspect that all three questions may have the same answer.
Regards,
I see that there have been no further responses to the last message, but I would also like to know the answer here.
You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.