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ohio_coffee
Level 2

Do I record drinking/eating my own product?

Hey all!

 

I own a coffee shop and I have a mobile ordering app with a Mobile Wallet feature.

 

I logged onto the app's dashboard and put $1,000 in my mobile wallet.

 

The "money" added to the app does NOT show up in square or in quickbooks online. When I use the app to purchase a $5 coffee, that sale DOES show up in Square and is then pushed to QuickBooks as revenue.

 

It seems like I should be able to drink my own coffee without increasing my revenue! 

 

-Is that correct?

-If it is correct, how do I adjust it in QBO?

 

Thanks!

3 Comments 3
Maybelle_S
QuickBooks Team

Do I record drinking/eating my own product?

I'm here to share some details about inventory and sales, @ohio_coffee.

 

In recording your products, you can select Inventory if you want to track the quantities. Otherwise, you can mark it as Non-Inventory. Before proceeding, I'd suggest consulting your accountant to ensure everything is recorded accurately.

 

As for the daily sales, you can either record them as invoices or sales receipts, depending on the transactions. You can check out this article to learn more: Record your Total Daily Sales.

 

Once the sales are recorded, QuickBooks then decreases what’s on hand by the amount on the invoice or sales receipt.

 

To learn more about tracking your inventory, please see this article: Set up your Inventory.

 

Please reach out to us again if you'll need help managing your items in QuickBooks. I'm always here to back you up.

ohio_coffee
Level 2

Do I record drinking/eating my own product?

@Maybelle_S Thanks for the response!

 

We go through so much coffee, donuts, muffins, etc. that it's not practical to track inventory.

 

The Sync app that I use creates sales receipts and lumps the sales into larger categories. 

 

I'm more specifically wanting to know how I can reduce the revenue that's showing in QBO. I can walk in and make my own coffee for free or I can order it through the app so it's ready when I get there. If I use the app, that sale hits as income...

 

A credit memo doesn't seem right. 

An adjusting entry of some sort?

 

 

 

Mich_S
QuickBooks Team

Do I record drinking/eating my own product?

Thanks for keeping us updated, @ohio_coffee.

 

I can help you record personal expenses from the business.

 

You can delete any sales that are showing up in QuickBooks that is incorrect. Then you may make the necessary changes in your app and sync it again.

 

 

Here's how:

  1. Open the Accounting menu then select Chart of Accounts.
  2. Locate your Square account and click the View register link under the Action column. 
  3. Choose the uploaded transaction and hit the Delete button. Note: You will have to delete each transaction one at a time.
  4. Click on Yes to confirm. 

 

If you wish to see the details of the deleted transactions, go to Gear > Audit log and run the Audit log report.

 

 

Also, if you're Square account is connected to the Banking page, you can exclude the downloaded transactions by going through these steps:

 

  1. Go to the Transactions menu then select Banking.
  2. Choose your Square account and hit the For review tab.
  3. Put a checkmark on the transactions you want to delete and hit the Exclude button.

 

After that, go to the Excluded tab to permanently remove the transactions.

 

 

For future use, you can read this article to keep track of your transactions in QBO: Run reports in QuickBooks Online.

 

 

Just hit the Reply button if you have other concerns about this or with QuickBooks. I'm always willing to assist. Stay safe and have a good one!

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