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DonovanD's avatar
DonovanD
Member
3 months ago
Solved

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 an...
  • Genreve_S's avatar
    Genreve_S
    3 months ago

    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 

Genreve_S's avatar
Genreve_S
MYOB Moderator
3 months ago

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 

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