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JosephineV's avatar
JosephineV
Experienced User
5 years ago
Solved

inventory

Can anyone help, we have moved to the new account right 2020.1 a couple of months ago. We have not used the inventory in myob for a few years as we use a tailored made software for theour inventory,...
  • Neil_M's avatar
    Neil_M
    5 years ago

    Hi JosephineV 

     

    If you have inventory that you need to write off the value of, you can use an Inventory Adjustment to reduce the on hand quantity and amount to zero.

     

    In terms of which account to use to record this expense, I recommend seeking advice from your accountant as to the appropriate account to select.

     

    As these items will be linked to transactions within your file, you won’t be able to delete them. Instead you can only mark them as inactive by ticking the Inactive item option on the item. This doesn’t remove the item from the file however it stops it appearing in lists, such as those on the purchases window, so they cannot be added to a transaction

Neil_M's avatar
Neil_M
Former Staff
5 years ago

Hi JosephineV 

 

If you have inventory that you need to write off the value of, you can use an Inventory Adjustment to reduce the on hand quantity and amount to zero.

 

In terms of which account to use to record this expense, I recommend seeking advice from your accountant as to the appropriate account to select.

 

As these items will be linked to transactions within your file, you won’t be able to delete them. Instead you can only mark them as inactive by ticking the Inactive item option on the item. This doesn’t remove the item from the file however it stops it appearing in lists, such as those on the purchases window, so they cannot be added to a transaction

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