ANSWER ID:9413To cater for stock shrinkage/spoilage of your stock items in RetailManager, you have two options: selling - sell the items for $0.00, or
completing - complete a single item stocktake.
Which The option you choose depends on what is 's right for your business. | UI Expand |
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| title | Option 1: Sell the items for $0.00 |
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| - Set your own store up as a new customer by going to the Information menu and choosing Customers.
- Press F5 on the keyboard.
- Enter as little or as much of your stores details as you choose. See our example below.
 - Click Commit.
- Go to the Transaction menu and choose Sales.
- Enter the applicable Staff number and the Customer number created above.
- Enter the barcode(s) of the item(s) you will be using for self consumption or writing off as damaged stock (shrinkage).
- Change the selling price to $0.00.
- Press the Tab key on your keyboard to move to the Quantity field. A message may appear warning that you are selling the item below cost. Click Yes. Another warning will appear, click OK.
- Enter the quantity of the item(s) being written off.
- Go to the Payment Details section click to highlight the Cash payment type.
- Enter the number zero ( 0 ) into the paying field and click Add. See our example below.
 - Click Commit.
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| title | Option 2: Complete a single item stocktake |
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| - Go to the Stock Management menu and choose Stocktake.
- Enter the applicable Staff number.
- Select Single Item Stocktake.
- Enter the barcode of the item that has been damaged or written off for self consumption. See our example below.
 - The expected quantity on hand will be displayed in the Expected column as In Stock. In the above example, the expected quantity is 58. If one of these items had been damaged or used for internal consumption, you would enter the number 57 into the Qty field and click Add (58 in stock minus 1 damaged item equals 57 in stock ).
- Repeat steps 4 - 5 for all other items that may have been damaged or used internally.
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Reporting on spoilageBy entering a $0 sale to a specific customer card that you have set up to account for spoilage, you are then able to report on the sales on that customer card. The "Who's Buying" report will show the Gross Profit figure next to that customer card. As you have "sold" the goods at $0 to account for spoilage, you can use the Gross Profit figure. For example, the gross profit of -$722.73 in the screenshot below indicates that $722.73 worth of stock was written off. 
Here is the resulting report: 
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<h2><i class="fa fa-comments"></i> FAQs</h2><br> |
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| title | What is the effect on the transaction journals exported to my MYOB accounting software? |
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| In both instances (shrinkage/self consumption), the following transaction will occur: Income | No change | Bank Account | No change | Inventory | Decreases (Credit) | Cost Of Goods Sold | Increases (Debit) |
If you would like the shrinkage/self consumption to be recorded as an expense, you can Record a Journal Entry in your Accounting software. The Journal Entry could be recorded as follows: Cost Of Goods Sold | Decreases (Credit) | Spoilage Expense | Increases (Debit) |
You may need to create a new Expense account or use one that is already used for spoilage/shrinkage. If you are unsure which account you should use, please consult your Accountant. |
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