Decrease inventory for Samples


P

Peter

I'm using POS, and need to decrease my inventory qty on hand for items I give
away as samples. Any suggestions on best way to do??
Thanks!
 
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J

jessica from Greencoast

Hi Peter:

We handle this one of two ways.

1. we bring in special inventory only for samples. We don't check it in and
enter it directly into our book keeping software as an expense (as opposed to
inventory asset) . Then we give stuff away without worrying about having to
note it at the POS.

2. If it is something in our inventory already that we are handing off the
shelf, we sell it for $0.00
 
P

Peter

Samples are taken from regular stock, so number 1 won't work.
I had thought of the second idea, probably will go with that.
Tx Jessica!
 
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C

convoluted

Number 2 will also work, but keep in mind you'll take the hit on your sales
reports - ie you're selling at item at 100% loss so your margins will be
affected - a way around this is to set aside your samples from your standard
inventory by doing a manual adjustment to inventory (track it as "samples")
then give it away at the POS - it boils down to the dollar value of the
items, too, I guess, so if your samples are relatively inexpensive then not a
biggie selling at zero dollars....
 

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