Wholesalers are companies who sell large quantities of products to customers at a discounted price. This bulk buying policy helps to lower the price per unit and can save customers a lot of money in the long run. It is important to set up a QuickBooks chart of accounts that is easy to use and can properly record the sales and expense that are involved with running a wholesale business.
When setting up income accounts, create a sales account to record the revenue for goods sold. If you want QuickBooks to have more detail, you can create new items to track where your revenue is coming from.
When setting up expense accounts, consider what expenses are involved. Common wholesaler expense are:
- Office Supplies
- Repairs and Maintenance
Where Can I Find More QuickBooks Help?
To learn about a chart of accounts for another industry, try our post on industry specific charts of accounts.
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