INBOOKS · PRACTICAL GUIDANCE
Accounting for Trading
Link purchasing, landed-cost evidence, stock movements and sales so product margins can be interpreted. Agree how shipment-related costs and foreign-currency differences are reviewed rather than hiding them inside one general expense balance.
Records and controls to prioritize
- Purchase orders, supplier invoices and goods-received records
- Freight, customs and other shipment-cost evidence for review
- Stock movement and physical-count reconciliation
- Foreign-currency supplier balances and payment matching
Practical questions
Why match goods receipts to supplier invoices?
It highlights goods received but not yet invoiced, invoices without confirmed receipt and quantity differences requiring follow-up.
What should a product-margin review include?
Use consistent cost definitions, review discounts and returns, and identify shipment costs or stock adjustments that affect comparability.
Scope the work around your operations
Describe the channels, entities, accounting system and periods involved. Agree the review and reporting scope before work starts.
Discuss your business →