Damaged Stock

I am trying to record an entry of damaged stock which I received and cannot return...how shall I go about it?

Thanks,

Posted by Lavinia on Jan 9, 2011 6:37 PM GMT

Hi Lavinia,

Firstly create a new expense account called 'Damaged Stock', then note the account that you originally allocated the purchase to (such as 'Cost of Goods Sold'), then create a new General Transaction from this account to the 'Damaged Stock' account.

Regards

Posted by Mark McLaren (Solar Accounts) on Jan 10, 2011 9:37 AM GMT