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thanks for the response. My explanation of the query was confusing. When I mention 'stock' I'm referring to the products I sell in my business. If I buy products they are an expense to my business hence showing up on the P&L and when my products sit in my shop they are an asset to my business...

I'm just getting started with iCash and having difficulties with recording the purchase of stock. I take funds from my bank account but get stuck on which target account to use as I need to show this as an asset on the balance sheet but also an expense on the P&L statement. It seems simple in...