You use this document to write off certain inventory items. The write-off is carried out when inventory becomes obsolete, has been damaged, stolen, rejected or misplaced.
Inventory write-off results in a in a reduction of inventory quantity, as written-off items have been physically removed from the stock. Inventory value is also reduced by the cost of written-off items that is calculated according to the selected inventory valuation method.
For more details about supported inventory valuation methods and how to set them, see My Company Settings: Main.
The reduction in quantity and value is reflected in the Inventory journal and Transaction journal. Inventory accounts to which the written-off items have been assigned are credited by the number of items, and expenses incurred due to the inventory write-off are debited to the Expense account.
To go to the Inventory Write-off
- On the Codejig ERP Main menu, click the Inventory tab.
- Under the Inventory tab, click Inventory Write-off.
Inventory Write-Off: General Area
Inventory Write-Off: Goods for Write-Off