Automating your Accounting for Shipping Cost

Once you have allocated your Shipping and Duty Paid (as shown earlier), you might want to automatically update your financial accounts. If yes, great as you can do that by changing your settings. First, go to:

Main Menu > Inventory > Settings > Inventory Settings

Once you’re there, scroll down the page and you’ll be able to find this:

(Click on image for larger view)

With the drop down, just pick the relevant chart of accounts where you want to allocate your cost.

 

2 thoughts on “Automating your Accounting for Shipping Cost”

  1. Question #1: Before I can add the shipping and duty account, these expense (or cost of goods sold) accounts must already by in the chart of accounts.

    a) True
    b) False

    Reply
    • Correct Answer: b) False

      Explanation: No, if you can’t find the account that you need, you can click on “New Account” to set it up. However, make sure to check with your accountant before you do this.

      Reply

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