How do you delete inventory from MYOB Business
I set up inventory to track shares and then realised it was too large a task and instead subscribed to a program via CMC that would download all my tax information.
Trouble is I set up inventory and entered bills and invoices and have now deleted all but the last invoice as it won't let me leave a nil balance.
How can I get rid of this out of MYOB now that I don't need to use inventory.
Hi DonovanD,
I can see how not being able to delete an item due to having a transaction connected to it presents a problem in your use case. Just to explain what’s happening: once an item has been used in a transaction, the software won’t allow it to be fully deleted.
Instead, you can clear it out and then inactivate it so it’s out of your way. Here’s how:
- Go to Products & services, open the share item, and note the On hand and Current value.
- Do an inventory adjustment on that item to bring it to:
- On hand = 0
- Current value = $0
- Use a suitable account as the offset (for example, your Shares/Investments account).
- Once that’s done, go back to Products & services and mark the item as Inactive.
After that, it won’t show up for new transactions, but your history is still there if you need it for tax.
Regards,
Genreve
