Xero Tax - Accounting for Stock movement
Accounting for Opening and Closing Stock.
In the Trust tax return and probably others, at Item 5 in the business section there is a plus icon you can press to open for 'livestock and produce trading'. In there you can record opening and closing stock, purchases and sales. Currently this is only feeding into the primary production section of the return. I would love to see an option to allow the same information for non primary production businesses. So that the stock can be clearly recorded for a retail business, or a share trading business for some examples. I recently moved over from Handi-Tax which does have these option in the returns.
Thank you.
2
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P. Grantley Orth
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