Later this month I'll purchasing some Tshirts with my website logo on them. Some of these shirts I'll sell, and others i'll give away in contests or other marketing related endeavors. How would I track this in QuickBooks?
Quickbooks specific; I can't tell you the steps. In general, I would charge the cost of the shirts to advertising. Any sales would be recorded to the same catergory or account as a reverse (negative) entry. To clarify, any sales reduce the advertising expense. Similar to the same process as a bad check except you are dealing with an expense account/catergory instead of an income category.