WEBMINO Manual

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Tips and Work Techniques
Accounting Startup Initial Configuration Online Customer Services Rental System Billing and closing Add inventory
Record stock losses
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Trial Balance General Journal General Ledger Cash Receipts Cash Disbursements Income Statement Balance Sheet Project Analysis Results Analysis
Income Menu
Billing Customer Accounts Cash Receipts Point of Sale Compact Point of Sale Closing Sales Cash Drawer Countertop Invoicing Customer Receipts Account Statements AR Analysis Invoice Printing Accounts Receivable Adjustments Invoice Tracking Open Invoice Tracking Selective Billing Order Tracking Quote Tracking Shipping Console Export Chains Consignments Consignment Tracking Billing Contracts Contract Billing Contract Tracking Pmt Request Tracking. Rental Console Quick Sales Search Mobile Invoicing Mobile Customers
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Expenses Menu
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Payroll Processing
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Reports
Accounts Payable Purchases Payroll Records of Employment T4-R1 Forms Commissions Checks
Inventory Menu
Inventory Orders Inventory Verification Products to Order Inventory Changes Inventory Taking Inventory Processing Promotional Changes Product Creator Order Tracking Required Products Intra Branches Intra Reception Assembly Sold Products Analysis Inventory Movement Analysis Lot Analysis IN-OUT Inventory Quick Inventory Search
Reports
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Dashboard Appointments Monthly Schedule Weekly Schedule Daily Schedule Treatment Follow-up 6 Month Calendar Operation Setup Treatments Rooms
Production
Production Monitoring Production Items Specifications Put into Production Method Management Production Calendar Production Day Production Console Production Cost Variation Required Components Tracking Component Cost Variation Component Usage
Reports
Production Recipes


Record stock losses

Depending on your type of business, you may need to remove items from your inventory due to loss of some kind.

Regardless of the reason, the IRS is extremely sensitive to unjustified inventory variations in an administrative system.
Often purchases are recorded and sales are recorded, so the IRS calculates purchases minus sales (that's all they look at) and if the difference is significant, it will be assumed that you are selling inventory without recording it as sales and an audit investigation will be triggered.

The IRS inspectors most of the time do not want explanations from you and will do the calculation without your explanations and details on the discrepancies. With the revision of the 2005 income tax law in Quebec, you are presumed guilty and it is up to you to demonstrate the absence of fraud.

It is so easy to counter this possibility while benefiting from advantages and statistics in the software.

The simplest, fastest and most accepted method is to make a sales invoice without a price or at 0.00.
Create a LOSSES client and keep a small list of your losses. Periodically create a sales invoice to the LOSSES client with the items on your list.

It is quick and simple, and the inventory extraction is found in your sales register and the tax authorities will not see any discrepancy.

In addition, you will have periodic statistics on losses. You will be able to examine the LOSSES client to view them. If you ever get asked for them, it will be easy to extract the report for that client.