The Inventory Write Off module has two uses:

• To write off stock and services which have been lost, stolen, damaged, given away or used internally.
• To assign inventory or services costs to a particular job when used in conjunction with the Job Costing module. 

In accounting terms, Inventory Write Offs are functionally identical to Stock Adjustments. 

NOTE: Non-inventory products are not available for write-off.

Table of Contents

• Create a new Inventory Write Off
• Inventory Write Off for Job Costing
• Viewing Inventory Write Off Transactions

Create a new Inventory Write Off

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Inventory Write Offs are managed from the Production module or Inventory module. Stock items written off will be removed from your available inventory. 

Create a new Inventory Write Off:

1. Navigate to Production/Inventory -> New -> Inventory Write Off.
2. Identify the Location where stock will be written off.
3. Select the relevant Expense Account. 
4. To add a product or service to be written off, click  + and then select the relevant product or service from your inventory. 
5. Identify the Quantity which will be written off. Cost will be automatically calculated using your chosen Costing Methods and previous transactions.
6. Complete the Inventory Write Off. This will write off the cost of the inventory to the selected expense account. 

   

Inventory Write Off for Job Costing

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The Inventory Write Off function is also used to assign stock and services from your inventory to a Job. See Job Costing for further details. 

Assign inventory to a Job:

1. Navigate to Production/Inventory -> New -> Inventory Write Off or navigate to Production -> Jobs, select the Job to assign inventory to and click New Expense -> Inventory Write Off.
2. Identify the Location where stock will be written off.
3. Select the expense sub-account dedicated to the job in question. If the Inventory Write Off was created through the Job, this will be filled in automatically. 
4. Click + and then select the relevant products and/or services from your inventory. 
5. Identify the Quantity which will be written off. Cost will be automatically calculated using your chosen Costing Methods and previous transactions.
6. Complete the Inventory Write Off. This will write off the cost of the inventory to the job sub-account. The Inventory Write Off will then be available on the Job screen ready to be invoiced to customers. 

Viewing Inventory Write Off Transactions

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View a list of all Inventory Write Offs from Inventory -> Inventory Write-Off or Production -> Inventory Write Off. Clicking on an Inventory Write Off will show you the details including the accounting transactions for that Write Off.

There is no Import/Export functionality in the All Inventory Write Off section, so it is not possible to view a Summary Report of Inventory Write Off transactions from here. Some options for viewing an Inventory Write Off Summary are:

• Using a single Expense account for all write off transactions, then running the General Ledger Report. Inventory Write Off transactions can be viewed by checking the relevant expense account. 
• Run the Inventory Movement Details Report and filter by Inventory Write Off