Glossary
Write-off
A write-off removes an amount or item from your records because it is no longer worth anything, like a debt that will not be paid or goods that are spoiled.
What it means for a shop owner
It is not a new loss but an admission of one that already happened. Write down the reason, the date and who approved. Repeated write-offs on one item point to a problem in buying or storage.
A worked example
Twelve boxes costing 3 each expire. You write them off, book a loss of 36 and reduce the stock.
Related
Try it in your shop, free, no card.
The free plan: the whole shop for one branch, an offline cashier with stock, debts and accounting, with a daily limit on invoices, expenses and purchase orders. What it includes