We have sold the business assets as part of a sale and looking for guidance on how to record everything as a result, ideally using an invoice with line items to account for each element of the assets sold.
- There were 250+ actual inventory items which have a qty on hand. Is there a way to record the sale of all of these in a bulk manner without having to list the item and qty of each?
- The inventory was sold at a discount...how do I account for the loss?
- How do you account for the good will aspect? i.e. what type of account do I create (other current asset)? What type of item do I create that links to this account that I'll then put on the invoice?
- How do I account for remaining payments (all principle, no interest) the buyer is to pay over the course of a year? (Current Asset with an opening balance equal to the total amount due, then decremented each month from the payment from the buyer)
