I need to know the difference between Misc Supplies and Sales when entering in the Product/Service line in an invoice.
We are a pump irrigation service and repair company. I enter our larger items as a non-inventory - (Gear icon, Product and services) but I also have other items like nuts/bolts/etc. Currently for these small items like nuts/bolts, we have been entering them as a Sales items under product/services in our invoices. Is this ok or should I also make them non-inventory items?
Thanks for stopping by this afternoon for assistance, I'm happy to provide some insight into the difference between Misc. Supplies and Sales. Miscellaneous supplies are the items a company uses to run its business and drive revenue, whereas sales reflect inventory sold. For guidance on how to categorize your items, I would recommend reaching out to an accountant, if you don't have one a ProAdvisor is a great place to start.
If you have any other questions or concerns in the meantime. Feel free to post down below. Thank you for your time and have a nice evening.