How can I record a loss, in this case food spoilage due to equipment malfunction?
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Thanks for coming to the Community for help, @beesrvresort.
You can record a credit to the appropriate inventory account to reduce the amount of the spoiled item on hand. Then, debit the spoilage expense to deduct it from your net profit.
Enter a bill and create a vendor called My Company (internal) to account for this. Here’s how:
Take a look at this article for the detailed steps: Enter bills.
Let me add the link to our Resource Center for information or topics related to operating a successful restaurant using QuickBooks: https://quickbooks.intuit.com/r/guides/operating-successful-restaurant/.
Should you have questions or need further assistance, let me know. I’m more than happy to help. Take care!
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