Created with Sketch.Learn about PPP and Loan Forgiveness, stay informed with the latest changes.
Created with Sketch.Questions about how to close your books for 2020? Visit our Year End Resources page.
Created with Sketch.New to QuickBooks or using a new product? Visit our Get Started resource page to help you get going.
Created with Sketch.Need to make changes to your account? Visit the Account Manager Portal.
Showing results for 
Search instead for 
Did you mean: 
Level 3

How to write off inventory for personal use


I was wondering what type of charter account do i use to write off inventory taken off & qty adjusted for personal use.

1 Comment
QuickBooks Team

How to write off inventory for personal use

You can write off this inventory item by creating a sales receipt with zero sales, @mikelu9661.


Here's how:

  1. Select + New and choose Sales receipt.
  2. Choose the name of the customer.
  3. Enter the service date, product/service, and description.
  4. Add the number of items that you'll be going to write off under the QTY column. 
  5. Leave the Rate column zero ($0). 
  6. Select Save once you're done. 

This will reduce the inventory and will record the COGS as an expense. Check this article for more information: Create and send a sales receipt


Here's also more information on how to track your inventory: Set up and track your inventory in QuickBooks Online


Let me know if there's anything that you need. I'm always here to assist. Have a wonderful day!

Need to get in touch?

Contact us