If I want to use a product that I sell in my shop, how do I record this so that my stock remains correct?
Example:
I have bought 9 bottles of oil and want to use 1 myself.
Do I then write in my receipt book under the description: 1 oil – 20 euro
And under the price 0 euro (personal use)
Or is there a better way?
You purchased it and then you are going to use it yourself, as in: just you yourself privately using it?Then you can actually sell it to yourself, but it's okay to just do that at the purchase price.
Suppose you bought it for 10 euros excluding vAT (+vAT), just do a sale to yourself for 10 euros excluding (+vAT) and write "For personal use".That way, the impact from that private purchase on your accounts is zero. Purchased for 10 euros in expenses, sold for 10 euros -> 0 euros impact on the accounts.
You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.
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