sponsorship and stock

[Bridget1968]

Client has been sponsored by a company, as part of the sponsorship they have been given some assets to use, at some point customers could purchase the items and the agreement is that as soon as a purchase is made the company must replace the item like for like.
How would account for this in the books?

Also I am just setting up stock in sage, i have set up a product list for each item but was now wondering how this stock is recorded.
I am getting myself confused now about the stock procedure as I havent really been involved with this before. When i purchase a stock item where should i code this to the p&l or the stock account in the balance sheet.

I have found out that the stock has to be manually adjusted 'in' and 'out' to reflect a true stock figure its just the entries and mth end procedures i am confused with.

Thanks for any advice.

[Bridget1968]

Advice anyone? :| :| :|

[Bridget1968]

advice anyone ?

[weebly_one]

Can't help on the first point - but stock in Sage is always posted to the P&L account, one of the 5000 codes which you can split out to make sense of purchases in different parts of the business.

eg 5000 Hardware Sales
5001 Warranty Sales
5010 Software Sales

etc.

At the period end you would do a stock take and journal the closing stock into the Balance Sheet,there is help on how to do this in Sage's F1 help text. I tend to do stock journals just at the end of the year in mu business, but others will do this monthly. Hit F1 to bring help up and search for Stock for lots of walk throughs and help.