Why Use Product Write-Off?
Write-offs are used to remove items from inventory that are:
Damaged
Expired
Lost
Used internally (non-sale items)
Donated or discarded
This ensures your inventory value and quantity are accurate and financial records reflect real business conditions.
How to Create a Write-Off Entry
Item to Write Off
Select the inventory item you want to write off. Only stock-managed items (added after Inventory Plus activation) are eligible.Account
Choose the appropriate expense account to record the write-off (e.g., “Inventory Shrinkage,” “Damaged Goods,” or a specific internal use account).Quantity
Enter the number of units to be written off.Click "Run"
The system will:Deduct the quantity from stock management.
Record a COGS transaction using Weighted Average Cost.
Post an expense to the selected account.
Step by Step:
1. Navigate to and Click "Inventory"
2. Click "Write Off"
3. Click "Create Write Off"
4. Select the project if applicable
5. Select the item
6. Select the Account.
7. Add the Quantity
9. Add more items when needed.
9. Click "Run Cancel"
