Forum Message

Lost or Stolen Stock

We attend shows throughout the UK during the year, and we usually have a small amount of stock that is taken.

How should I account for this.


Posted by Tom Beattie on Dec 5, 2016 11:41 AM GMT

Hi Tom,

We normally recommend that users track stock level as described here:
https://www.solaraccounts.co.uk/help/how-to-track-changes-in-stock-level.php

Using this approach you don't need to record an extra transaction for lost or stolen stock - just increase the amount of the General Transaction which allocates to 'Cost of Goods Sold' at the bottom of the page. You can think of the lost/stolen goods as 'sold for £0'.

Regards,


Posted by Mark McLaren (Solar Accounts) on Dec 5, 2016 12:10 PM GMT