Created with Sketch.Learn about PPP and Loan Forgiveness, stay informed with the latest changes.
Created with Sketch.Need help with 1099's or other Year End topics? 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.
cancel
Showing results for 
Search instead for 
Did you mean: 
Level 1

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

 
4 Comments
QuickBooks Team

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

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.

Level 1

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

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?

QuickBooks Team

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

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. 

Level 15

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

@jmcrider11 

You may need an additional app to do so. For any output of a process, you can specify the output item as waste. Based on the percentage of waste items and non-waste items, the app will calculate a yield for your process. This helps you to evaluate materials from different suppliers, for example, to determine which gives you the best outputs in your manufacturing. Waste items go into inventory like any other inventory item, so that they can be tracked and used later as needed.

Sign in for the best experience
Ask questions, get answers, and join our large community of QuickBooks users.
Sign In / Sign Up

Need to get in touch?

Contact us