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