Hi, I am hoping someone can assist with my inquiry. We are running a small business producing food for different restaurants and we don't track the inventory as the food are made to order. We often has to incur food loss due to expiry, At the end of each week, the restaurants will informed me how many are expired (if any) and I raised credit note for them . I have created products items in Quick books in order to raise the invoice and credit note for my customers (restaurants). However, I still need to create month end journal for the stock loss at the end of each month to account for the expired stock since I am not tracking the stock. Can you advise me the best way of doing this? Do I create an expense account called "Stock Loss" and an asset account called "Stock Produced" and debit the expense account and credit the asset account for stock loss journal? Thank you.
