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New freelancer looking for help with understanding
LucyHoad
Member Posts: 2
Hello
I am a freelance marketer and have just started using Wave, so far so good. My issue lies more with the understanding of accounts than wave in itself. I charged a client for my design and print preparation of business cards and organised the print of them. I split these two up on the invoice for my design costs and the external printing costs and he paid the full invoice. Now I have paint the printer, how do I file this outgoing in my accounts. I am thinking a product or service? Then I read about 'costs of goods and services' and now I am confused? lol I would really appreciate some advice. Thank you.
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Hello, is anyone able to help with this?
Hey @LucyHoad! It sounds like what you're trying to record is a cost you paid to a third party, for which you were then paid by your client, is that right? I'd recommend checking out Wave's FAQ for expense reimbursement as a first step.
And welcome!
I have done the same service for a client and I usually post the payment to the third party under the Cost of Goods Sold category to an account called Material Cost.