Hi guys and gals...

I am currently using Sage Line 50 Financial Controller.

All purchases and put in a nominal code (5000 - Materials purchased)

after a unfortunate event £XXX of goods were stolen from our warehouse.

My question is how do i treat this journal??

Am i right to say:

PURCHASES

CR MATERIALS PURCHASED (nominal 5000) - £XXX

DR STOLEN GOODS (new nominal within purchases) - £XXX

Thanks in advance