Restock Fees

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CTB
Posts: 60
Joined: Thu Sep 02, 2004 12:00 am

Restock Fees

Post by CTB »

Am I off base for thinking restock fees should be applied to the same account as purchasing discounts? Isn't a restock fee kind of like the reverse of a purchasing discount?
Parts007
Posts: 664
Joined: Mon Apr 23, 2001 12:00 am

Re: Restock Fees

Post by Parts007 »

Yes that makes sense. Your inventory account needs to stay the same, coming in or going out.
FixedManager
Posts: 216
Joined: Wed Feb 21, 2007 12:00 am

Re: Restock Fees

Post by FixedManager »

Many companies do it as you ask however it is up to your company policies and CPA. In my stores we use one GL account for purchase discounts and another for purchase adjustments/fees. I like this method as I can see the figures at a glance without having to run the calculations.
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