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August 28, 2020
Question

inventory write off

  • August 28, 2020
  • 3 replies
  • 6 views

HI if I need to write off an inventory item due to a loss or damage etc what is the correct way so that it shows im out the cost of the item as well as the quantity?  It seems if the adjustment on hand using the Cost of goods sold account I dont see any change in my P&L or loss?   Please help...

3 replies

Level 1
August 28, 2020

Hi @NauticalJim , Create a sub account of COGS called loss/theft/spoilage and use that account when you do an inventory adjustment.  Lower the qty of items that need to be written off. Refresh qbo with clear cache and browsing history. You could use credit memo too for replacing inventory sent to customer. Please see the post  and this post . Comment back, cheers.

AlexV
Level 10
August 28, 2020

Good to see you here, NauticalJim.

 

Let me assist you with your inventory.

 

The inventory adjustment is the right way to write off inventories. Also, you will need to select an Expense Account as the Adjustment Account to reflect this on your profit and loss report.

 

Please check this article for your reference on how to adjust your inventory quantity or value in QuickBooks Desktop.

 

Comment below if you need more help. Have a great day!

August 28, 2020

Thanks also Alex...so it appears thereare different ways to adjust down inventory...one is to just take it off and another is to take it out of inventory and anotheris to take it out of inventory and show the item as a loss...correct?  I have another somewhat related question.  If I send items to Amazon fulfilment...how do I

1 correctly adjust inventory as its not in my posession

2 At the end of the year do I then put in what was sold and adjust out the cost somehow?  Thats a bit more tricky lol

January 12, 2021

Hello,

I am new to this community so I hope this is the right place to post a question. I have goods that I can't sell any more. How do I write off these inventory goods as an expense or as a loss?  

Which are the specific accounts that must be affected? What is the mechanism in QB to do this? 

What happens later if I am able to sell them at a price less that what I paid for them? How would I enter such a sale?

Thank you.

February 17, 2022

I don't have an answer, just want to stay in the loop for this question, because I have the same one.  Expired inventory that needs written off.

AlexV
Level 10
February 17, 2022

Hello beckellh!


You can make an inventory adjustment in QuickBooks Online. Let me show you how.


Make sure to set up an inventory adjustment account to track your adjustments. Follow these steps:

  1. Go to the Lists menu and then Chart of Accounts.
  2. Select the Account dropdown, then New.
  3. From the Other Account Types dropdown, select Cost of Goods Sold.
  4. Name this account “Inventory Adjustments”, and then Save and Close.

 

Once done, go to the Inventory menu and select Adjust Quantity/Value On Hand. Then, you can run the Inventory Valuation Summary report to verify that your inventory is now accurate. You can pull up this report when you hover over Inventory from the Reports menu.


Please check this article for more details on how to make an inventory adjustment: Adjust your inventory quantity or value in QuickBooks Desktop.


I'd be glad to help you if you have other concerns. Have a great day!

October 2, 2025

This one's a bit of a puzzler, huh? let's dive in with some things you might check. You can print single labels fine, so the connection's gotta be okay. But multiple labels? Maybe there's a hiccup in the process queue or spooler.

I've seen cases where the print queue looks fine but has a backlog. One trick is clearing the print spooler on windows 10. Sometimes a stalled state happens if there's a "ghost" job in the queue, blocking new jobs. Head to services.msc for stopping the spooler, poke around in C:\windows\System32\spool\Printers, and ditch any files there before restarting.

Also, make sure your QuickBooks enterprise is up to date. Sometimes, printing quirks get patched in updates, so keeping QuickBooks and Zebra driver updated might solve it. Try tweaking the printing settings in QuickBooks, especially for your specific label format.

Now, while testing on Windows 11, check for any surprises. newer OS versions might handle USB stuff differently, and it may just skip over whatever glitch you're seeing now. Let me know how it goes or if you spot anything new!