There are cases when you need to write off invalid balances from your inventory, such as scratching NGs, expending stock for other purposes, or designating them to other sorts of assets.
Go to Inventory > Inventory Write-Off for a list of previous write-off records, and click "Add" button to make a new one.
In the following editor view, input corresponding data to the fields,
- Date: date of this write-off record to take effect and calculate cost
- Description: description for this write-off. Will be automatically brought to journal entries
- Cost allocation account: the asset or expense account to allocate the write-off cost to
- Tax: the tax where applicable
- Items: the inventory items and respective quantities to write off from the stock
Click on "Save" to save this record. Corresponding entries and stock transactions will be automatically generated.