Inventory Write-Off

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

  1. On the Codejig ERP Main menu, click the Inventory tab.
  2. Under the Inventory tab, click Inventory Write-off.

More information
Create a New Inventory Write-Off Document
Inventory Write-Off: General Area
Inventory Write-Off: Goods for Write-Off