Sometimes inventory products get used by the company. It is important to get this product out of the inventory and into the expense account.
- Verify a customer exists for the transaction. This could be the company name or a generic Company Use customer could be added if company-used product should be kept separate from anything else.
- Add an Invoice (A/R / Invoice / Add) for the Company Use customer, selecting the products used. Since this is company-use product, it is typically priced at cost.
- Go to the customer Payment on Account screen (A/R / Payments / Add) to add a payment for the company-use Invoice. Select the Company Use customer, enter the Invoice amount in the Discount Amount area, and select the appropriate expense account in the Disc G/L. In the grid, enter the amount of the Invoice in the Discount column, and then choose Apply.
Note: Consider marking this Pay Method Inactive for locations that will not be utilizing this Pay Method.
- Save the payment.