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jmcrider11
February 19, 2021
Question

Does anyone know how to record items that are damaged/waste inventory without tracking inventory in QB?

  • February 19, 2021
  • 16 replies
  • 111 views
No text available

    16 replies

    Rasa-LilaMQuickBooks Team
    QuickBooks Team
    February 19, 2021

    Thanks for visiting the Community, jmcrider11.


    We’ll have to create a zero sales receipt for the damaged items. This way, they’ll show in your records and reports.  I’ll be your guide today on how to do this in QBO.

     

    1. Tap the New menu in the upper left and choose Sales receipt under Customers.
    2. Click the Customer drop-down to add the client’s name.
    3. Fill in the field boxes with the correct information.
    4. In the Product/Service box enter the damaged items, enter the number of waste products in the QTY column.
    5. Make sure to input zero in the Amount field.
    6. Click Save and close.
    7. Perform the same process for the other products you wish to track.

    I’m also adding an article that contains topics and resources to help easily handle your inventory tasks in QBO.  Click on the guide to view the full information: Manage your inventory, products, and services in QuickBooks.


    Please let me know if I can be of further assistance. I’ll get back to help and make sure you’re taken care of. Enjoy the rest of the day.

    jmcrider11Author
    February 20, 2021

    I need to record the dollar loss not the inventory quantity loss. If I enter as a zero in the amount field doesn't that defeat the purpose?

    Ryan_MModerator
    Moderator
    February 20, 2021

    Hi @jmcrider11,

     

    Thank you for your prompt reply. 

     

    I suggest you create an expense account to track the amount you lose for a waste inventory item. What you need to do next is to add a service to the Products and Services page. 

     

    Follow these steps to create the expense account:

     

    1. Click the Accounting tab.
    2. Select New.
    3. Set the Account Type to Expenses, then choose whichever is closest to the Detail Type.
    4. Enter a name.
    5. Hit Save and Close.

    Next up, you need to create a service to link this expense account. Here's how:

     

    1. Highlight the Sales tab.
    2. Select Products and Services.
    3. Press New.
    4. Select Service.
    5. Enter a name.
    6. Change the Income account to the expense account you created above.
    7. Click Save and close.

    At this point. you can create a sales receipt with the service you recently created. Under the Amount column, type in the total amount for the damaged inventory items in question. This will count as a loss for your business.

     

    I suggest you view this article: Can I track inventory manually in QuickBooks Online? Here you can follow the steps to track inventory items in your QBO company, even without the inventory feature enabled. 

     

    Need further assistance with this process in QuickBooks Online (QBO)? Post a reply, and I'll be sure to get back to you. 

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