Buying and selling the same product
Coops1
Member Posts: 1
Hi there,
Hoping someone can assist. I have been using Wave but only for invoicing purposes. I purchase products from a vendor/ supplier and resell. How do I track the difference between what I paid for the products and sold them for on a monthly basis? Do I log the invoice that I bought for under Vendor? If all of the items are listed under Sales re my invoicing, do I have to log them all individually as items under purchases?
Will appreciate if anyone can help please?
Many thanks,
Debbie Cooper
0
Comments
Hi @Coops1 . I'm afraid that Wave doesn't track or manage inventory, so you wouldn't be able to track the income made from reselling a product. You could however manipulate some of this data on your own, but it's not supported directly in Wave.
In regards to the items themselves, when creating an product/service you can list it as purchasable as well as sellable, but you'll still have to edit the price in the invoice/bill every time you switch between how you're using the product.