We have a point of sales system and we import the the daily sales (from end of day) using a sales receipt. But I am having an issue with how to handle a specific case.
We ring in merch through the point of sale. Sometimes we discount the merch to marketing. For example we give away a t-shirt. So on the end of day there is a Merch total that we input on the sales receipt. I also have a Marketing discount line item which will pull the amount from the revenue account. This seems correct and fine to me.
The question is how to track the expense of the given merch to marketing. Do we need to keep track of the quantities some seperate way (we dont have the POS or Quickbooks managing inventory). and then just do a manual journal entry from COGS or whatever to a marketing expanse account? Is there a way to handle this on the sales receipt?
unfortunatly, tracking each item as an inventory item wont work. Like i said we are doing this to bring in daily sales data from an end of day report. If you search these forums for importing daily sails, you can get an idea.
so we get a single merchandise line item for the entire days sales.
So it look like we need to track quantity seperate. and do the manual journal entry to transfer the $$ from COGS to marketing.