Writing Off Stock

67 Results For Writing Off Stock

Stock write offs acct

I have set up a COGS Stock Write off Acct 5- but I’m not sure what the difference would be if I set up an expense acct 6- instead to record stock adjustments. The posts seem to suggest both as being ok and the MYOB message say it’s usually an expense acct?

Stock Write Off.

Last financial year some stock items were written off, but we need the recommended way to bring one of the items back into stock for a special sale. Do you create an Inventory adjustment journal entry and add the item back in, but for the amount put in 'Nil value"? Please advise with the correct procedure…

Inventory adjustments

…recorded. Occasionally the quantities of your physical stock holdings may differ to the balances in the software. One of the most common causes of this is when stock is written off. Any situation which affects the quantity or value of your physical stock holding, other than a sale or purchase, needs to be…

5 ways you are sabotaging your own business | MYOB Blog

Most business owners get bogged down by

Retail Support - Bad Debts in RetailManager

Bad Debts often occur where an account sale has been made to a customer, and where payment has been so delayed that you want to simply write off the debt owed as an expense to your business. Note: A 10% GST rate is used in the examples in this support note. Task 1 - Set up a new Payment Type * Go to…

Retail Support - Stock shrinkage and self consumption in RetailManager

…applicable Staff number and the Customer number created above. * Enter the barcode(s) of the item(s) you will be using for self consumption or writing off as damaged stock (shrinkage). * Change the selling price to $0.00. * Press the Tab key on your keyboard to move to the Quantity field. A message may appear…

Broken/Damaged Stock

…in my chart of accounts for faulty stock? Is it cost of sales or a liability. I am not sure. We want to have a record or our returns so we can write them off at the end of the year but not sure what account area we record them in. Can someone steer me in the right direction. Thnak you so much! Kimberli

7 steps to a successful stock take | MYOB Blog

With the end of the financial year just behind us, most business owners would have completed the arduous task that is a stock take! A stock take is a count of the business inventory on hand, typically done at the end of the financial year, though some businesses may do it more regularly.

6 Things To Do Before the End of the Tax Year | MYOB Blog

6 things to do before end of tax year New Zealand

Credit Notes

…& Credits tab of the Sales Register to apply the credit to the original invoice. Writing off a bad debt At times people will be unable to pay their account, or simply refuse to pay it. Our support note Writing off bad debtsprovides information about handling bad debts. Applying a discount if you…