Good Morning,
I have to send a replacement item for a customer on eBay. The original item has been lost by the courier.
How should I account for the replacement item, which nominal to use and what is the deduction cost from inventory?
Thank you.
Nothing to be done , just keep log of item sent to customer. Its same as wasted stock which will flush out in P&L when you do actual stock count at year end
It is clear now.
Thank you.
Hi everyone,
I’m looking for advice on how to properly record a damaged goods replacement in Quick File.
A customer received a parcel with a damaged item. We sent them a free replacement (they kept the damaged item with photo proof). I don’t use the inventory system in Quick File; instead, I record stock purchases as ‘general purchases.’
I’ve also noticed that I don’t have a ‘Cost of Sales’ account in my Chart of Accounts.
Given these circumstances, would a journal entry be the best way to record this damaged goods loss? If so, could someone please provide guidance on the appropriate accounts and entries?
Any help would be greatly appreciated!
Thank you.