JJ - this was very helpful. Could I ask a related question? I can't see to find a simple way to transfer stock from one location to a second, which would allow the transfer to show the actual cost of the stock (not the retail cost). Here's why I'm looking for this:
- we are a small business with a brick and mortar bookstore and a small online shop.
- we've set up Square with two locations: one is the physical bookstore (named "Hermitage"), and the other, named 'ecom', is for our virtual online store.
- we offer some of the same items we sell in the physical store in our online shop as well.
- when an item sells online, an employee has to walk over to the bookstore and select it from stock, then take it back to the shipping department and package/mail it to the online buyer.
- we need to show our accounting department that the stock from the store didn't "disappear" - that it was actually used for a sale on our ecommerce site. This report should show the item description used for the online sale, any SKU it has, and its actual cost to acquire (not the retail cost but our cost). Then the bookkeeper can account for it in the accounting books.
- in order to do this, the only way I found was to create a customer named 'ecommerce' and then "sell" the items purchased in the online sales to this 'ecommerce' customer, listing the sales price as the actual cost (so we don't appear to make money on our own ecommerce sales).
- that is why I wanted to know how to get a report on transferred items in my original question - I'm trying to give the bookkeepers a way to track what was transferred from the physical store to the online store.
But does Square have a simpler more straightforward way to transfer items from one location (our physical store) to another location (our shipping department, or 'ecommerce'), without creating all these hoops to jump through? It surprises me that it doesn't have an obvious way to do this, since this is quite a common business practice. Any ideas?
