How do I record a book sale so that the taxes and shipping fee is properly recorded
We are a small publishing company and have opened an online store. I'm struggling with how to record a book sale so that the income and expenses related to a book title are properly recorded for that title.
Here's an example:
A book title selling price is $10.00 Our printing expense for that book title is $2.00 We offer free shipping and the expense for the shipping is $1.00 Our net profit for the book is $7.00
I have set up each title as a project and that has been a great way to look at the initial expenses for the title. I would like to continue to track this way each time we direct sell a copy of the title so by looking at the project for the title we can tell it's profitability.