Bookkeeping Question for nation know as Independent Distributors?
I'm investigational to the world of direct selling. I picked up a book on bookkeeping. The books dialogue more or less "Cash" or "Accrual" accounting. Which is the one Independent Distributors use? My comprehension of this type of home business is considered "direct selling". I'm planning on getting commisions through a net page and buying product at a discount (keeping inventory on hand) and reselling at the souk price.
Thanks for your imput.
Answers:
Cash proof is a service business, close to Doctors, Accountants, etc.
You will call for to use Accrual if you own inventory.
You'll want to do lolly accounting. Accrual is close to insurance...respectively th you would post what is in fact charged for the month, fairly than when you in truth discharge the bill (like every 6 months). Does that construct sense?
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Thanks for your imput.
Answers:
Cash proof is a service business, close to Doctors, Accountants, etc.
You will call for to use Accrual if you own inventory.
You'll want to do lolly accounting. Accrual is close to insurance...respectively th you would post what is in fact charged for the month, fairly than when you in truth discharge the bill (like every 6 months). Does that construct sense?