The recommended method for accounting for inventory that has been protected at the end of the season is as follows:
- Enter a negative Purchase Invoice for the credited product.
- Enter a positive Purchase Receipt for the product that is still on-hand, but is no longer owned by the company.
This process will remove the inventory from the Company Owned inventory report but will leave the inventory on the On-Hand report.
This method allows the ability to devalue the inventory in the assets (removing risk) while keeping the product on hand for the following season.
