RECORDING A DONATION OF INTENTORY
US QuickBooks Premier : 2012: Retail
How do I record inventory that I donated to a non-profit organization?
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bi1ycY-Rmr4kKlacwZ5xHE
10/19/11 5:34pm PDT
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qbteachmt
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10/19/11 5:36pm PDT
You create a sales invoice and write it off by using a discount or other charge item, so the total due is $0.
This is not a donation for you, unless the business entity is a C-corp, since the data file already has the cost as an expense.
You have forfeited the profit from a sale. There is no charitable contribution for this.
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10/22/11 4:44pm PDT
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THANK YOU VERY MUCH. simply enough...I should have thought this through better myself.
Thank you again.
