We use the inventory system within quickbooks. Sometimes we have customers who receive broken products. This is typically do to poor handling on UPS. We do file UPS claims but they are not always paid. I am wondering what the process should be so our P&L and other reports are correct. Right now our process is: when we send a replacement product we just put that item in the invoice so that it is taken out of inventory and change the price to 0.00 and finalize the invoice once we ship. If UPS happens to pay on the claim we enter the UPS check into Misc income. Is this the wrong way? Is there a better way to track this? It would be nice to know at the end of the year how much stuff gets broken by UPS and how much we are replacing.
Thanks for posting here in the Community today, @jennyf.
You're on the right track in creating an invoice or a sales receipt with zero amounts to keep track of the quantity of your inventory items. I'll also link to you a thread where one of our Allstar (qbteachmt) answers the same question as you have.
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