A chart of accounts for textiles
Textile margins are made on volume, so stock value and buyer credit are what keep the business alive. HelloBooks starts traders with this layout.
- Stock: fabric by type (cotton, polyester, silk, abaya crepe), ready-made garments
- Local sales to tailors and shops, and export sales
- Trade receivables by buyer, with credit limits
- Purchases in USD, CNY-priced invoices converted to AED, and FX differences
- Freight, clearing charges, warehouse rent and stock write-downs for old designs