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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 expenses that are involved with running a wholesale business.
To make your load a little lighter, we’ve created a free PDF with a QuickBooks chart of accounts for wholesale distribution and sales.
When setting up income accounts, create a sales account to record the revenue for goods sold. If you want QuickBooks to have more details, 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 expenses are rent, utilities, office supplies, repairs and maintenance.
If you have any questions about accounting, don’t hesitate to reach out to our team!
One Response
I completed the form which was supposedly my last step before getting the download of the Chart of Acocunts for distribution fulfillment. Submitted it and the: no download. I don’t do business with deceiptful companies.