I have had to replace product for a customer since it was faulty and i am having problems with it getting replaced with the manufacturer but how do i log and tag this? as it not something get billed to customer but i aint sure how it will be logged do i invoice it to the company and tag it as expense or something like that?
If you get is replaced by manufacturer then do nothing.
If its waste then Do nothing, just dont include it in year end stock count and record in your waste stock sheet for HMRC inspection in case
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Thank you for your response and information on the replacement or waste when it happens, i had to buy completely new stock because the manufacturer would take 2-6 weeks to inspect and replace so i had to get new stock to replace but it different stock so not sure how i log it as it is expense but i don’t know what to label it as, or if i need to create a invoice to the company for it or not
Replacement stock you bought would be classified as purchases just like original stock. It is case of more buying. Original stock eventually being replaced or recorded as waste does not require any further entry in accounts
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