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05/24/2012 at 04:51PM PDT
Important Announcement! A planned system-wide upgrade will take place over the Memorial Day Weekend in the US (From Thurs, May 24, 2012 at 6 pm PDT thru Tues, May 29, 2012 at 5 am PDT). This includes QuickBooks, QuickBooks Payroll, Point of Sale, & Salesforce.com. This is only for US based products. This does not affect QuickBooks Online customers! During this time, you can shop, but can’t place orders online, activate products or update account info. We apologize for the inconvenience & thank you for patience while we improve our infrastructure to better serve you. International versions are unaffected. For more info, see our community discussion.
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02/10/12 8:49am PST
Viewed by asker 02/13/12 9:08am PST

How do you account for the loss on the sale of a product?

US QuickBooks Premier : 2012: Accountant

I have a client who buys and sells used laptops.  In 2011 he sold several laptops for less than he paid for them.  How do I account for the losses?

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The solution

Just record the sale as normal.  The cost will be higher than the sales price resulting in a loss on the sale. 

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