Write-Offs in Inventory
Series2k has created a way to track write offs by department and also to map them to ANY QB account. Normally a write off will be sent to an expense account but as long as you map it correctly it will go where you want it to go. S2k uses a vendor called TI Vendor to track the following:
1) Items that have no prices, we create a ”TI Invoice” to set the costs on items that have NO costs in the system
2) When you take an inventory with the Hand Held or manually using the Take Inventory system, S2k will create an invoice that “corrects” the inventory on hand and creates a “TI Vendor” invoice to achieve this.
3) If you want to write off items, use the TI Vendor to remove items that were damaged, or stolen or otherwise written off and this will create a journal entry in QB per the mapping or under Expenses if you allow S2k to auto setup the mapped write of accounts for you.
If you have already used S2k to create a “Write Off” vendor first merge all the “Write Off” vendors to the TI Vendor and that will change all invoices to the correct TI Vendor name.
Posting Take Inventory
Invoices