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demicheli Boxes - Coggle Diagram
demicheli Boxes
profit
will show higher if boxes are not included in cost
will show lower if boxes recorded as one time purchase
then products need to not have boxes in cost as it will be double entry
some pieces without boxes
what if I keep it that way?
inventory value doesn't change after I change products cost prices in dm manuf
can't add quantity of jewelry without bill
bill without box will show a lower cost price
meaning a higher profit on the profit statement (which will be wrong)
boxes included in the cost
but what if when later we exhaust all the boxes and need to record just the boxes
then we will have double entry as the boxes will also be included in the cost price
but we can just not enter box prices in new pieces
it doesnt even matter though cause it does not affect inventory value
because quantity will change by marquis bills we won't have boxes anyway
then when we buy lot of boxes we will have to either include them in the invocies or most probably do inventory adjustments and put adjustment acc as COGS
what if we don't include box in cost
need to record them as one time purchase
Would need to remove all boxes from product cost then
would need to manually add box cost to calculate my profit
but it would not affect the profit statement
So remove them from dm manuf and reimport to xero
will change the sell prices in dm manuf
can make a new column which the sell price formula will use
can make a column with just product price
good cause mom never will order one box it will always be bulk orders
even if she does I will just record the box purchase separately (anyway its another supplier)
this will be just for xero product prices
what about the previous inventory value?
will not be changed after import
dm manuf will have cost prices only for the jewelry piece
boxes bought a while ago