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    regie030's Avatar
    regie030 Posts: 1, Reputation: 1
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    #1

    May 31, 2012, 10:13 PM
    Chart of Accounts
    Hi, I need help for making a chart of account for Catering Services.
    I'am not familiar on how we account food cost specially spoiled foods.
    Hope you can help me
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    Jun 1, 2012, 03:21 AM
    Quote Originally Posted by regie030 View Post
    Hi, I need help for making a chart of account for Catering Services.
    I'am not familiar on how we account food cost specially spoiled foods.
    Hope you can help me
    I would expect such cost to be contained in purchases unless it is that you specifically want to record and account for such spoilage, then you would open a specific account i.e. spoilage and identify and transfer the cost of such items to it.

    When desiging a chart of accounts simplicity is important particularly in an industry which is not necessarily oriented to accounting. Sales, purchases are accounts readily understood
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