Accounting For Expired Goods

Steveal3aneefSteveal3aneef Member Posts: 3

Hello there,
I wanna ask you guys how to do you create the entry for expired Goods so you can write them off from you inventory on wave apps

Comments

  • AlexLAlexL Administrator Posts: 1,794 admin

    Hey @Steveal3aneef , Wave's method of tracking inventory is somewhat of a workaround with what's available in the software as we don't fully support inventory tracking. For this reason, adding expired goods isn't supported either.

  • MikegMikeg Member Posts: 772 ✭✭✭

    @Steveal3aneef,
    You would do journal entry to remove obsolete inventory. Debit Purchases and credit Inventory for the cost of the obsolete inventory.

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