Shop sales

Group Shop Sales

Items which you sell in your group shop, such as books and motivational tools, should have the full selling price logged. For example, if you sell ‘Book A’ for £4.95, you should consider the full amount as your income for this, not the commission you make (mark up) on the product.

Example:

Josh buys a book from the supplier which costs £4.65, however the product is sold at £4.95 in his group. (30p markup)

The amount to consider as income is the full amount which the product is sold for, £4.95.

The £4.65 cost is an expense which is logged elsewhere

Was this article helpful?

Related Articles

Leave A Comment?