cancel
Showing results for 
Search instead for 
Did you mean: 
caffeinatedsloth
Level 2

Can I deduct the cost of inventory items I keep as test samples?Example: if I order bath bombs I use one so I can market it better and make sure there aren't any issues.

I'm new to Quickbooks and just recently opened my own business so I apologize if this is a simple answer and I'm sorry if I'm not explaining it well.
Solved
Best answer March 12, 2019

Best Answers
RenjolynC
QuickBooks Team

Can I deduct the cost of inventory items I keep as test samples?Example: if I order bath bombs I use one so I can market it better and make sure there aren't any issues.

Welcome to the QuickBooks Community, caffeinatedsloth.

 

Yes, you can deduct the cost of inventory for your sample items using the Inventory Qty Adjustment option. This helps match what you actually have in stock.

 

Here are the steps:

  1. Click the Plus (+) icon located in the upper right-hand corner.
  2. Under Other, click Inventory Qty Adjustment.
  3. Enter the Adjustment date, and select the Inventory adjustment account. Note: If you don't have an account for these items, you can create an expense account (for losses) and an income account (for gains) by clicking Add New. Then, proceed with the inventory adjustment.
  4. Select the product under the Product column.
  5. Enter the New Quantity or Change in Quantity.
  6. Select Save or Save and Close.

You can also check this article for the other way of editing the inventory item: How to adjust inventory quantity on hand.

 

I'll be around if you have any additional questions about QuickBooks inventory. Thanks.

View solution in original post

3 Comments 3
RenjolynC
QuickBooks Team

Can I deduct the cost of inventory items I keep as test samples?Example: if I order bath bombs I use one so I can market it better and make sure there aren't any issues.

Welcome to the QuickBooks Community, caffeinatedsloth.

 

Yes, you can deduct the cost of inventory for your sample items using the Inventory Qty Adjustment option. This helps match what you actually have in stock.

 

Here are the steps:

  1. Click the Plus (+) icon located in the upper right-hand corner.
  2. Under Other, click Inventory Qty Adjustment.
  3. Enter the Adjustment date, and select the Inventory adjustment account. Note: If you don't have an account for these items, you can create an expense account (for losses) and an income account (for gains) by clicking Add New. Then, proceed with the inventory adjustment.
  4. Select the product under the Product column.
  5. Enter the New Quantity or Change in Quantity.
  6. Select Save or Save and Close.

You can also check this article for the other way of editing the inventory item: How to adjust inventory quantity on hand.

 

I'll be around if you have any additional questions about QuickBooks inventory. Thanks.

View solution in original post

caffeinatedsloth
Level 2

Can I deduct the cost of inventory items I keep as test samples?Example: if I order bath bombs I use one so I can market it better and make sure there aren't any issues.

Hello, I don't have the ability to track or change inventory since I just have the Simple Start version. I don't need to change inventory numbers of products, I just need to deduct the cost somehow so that it is an "expense" since I paid for the item when I ordered inventory but these particular items won't be sold. Does this make sense?

GlinetteC
Moderator

Can I deduct the cost of inventory items I keep as test samples?Example: if I order bath bombs I use one so I can market it better and make sure there aren't any issues.

Hello there, caffeinatedsloth.

We can do a manual adjustment for the cost.

You can use a journal entry to do this. You can use this article for your reference:

https://quickbooks.intuit.com/community/Help-Articles/Create-a-journal-entry/td-p/192925*.

 

You may also reach out to your accountant if you need help on the Journal Entry.

Let me know if you have other questions.

Need to get in touch?

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