To record items taken from inventory for your own use, create a Personal Use contact profile and invoice the items using that profile. This keeps the removal tracked consistently and separate from business activity.
When handled this way, these invoices still appear on the Gross Receipts report with an offsetting discount. This ensures net sales remain accurate while showing no profit on the items. Personal use invoices can be excluded from the Gross Receipts report or can be printed separately. See Filter Invoices by Invoice Type for detailed steps.
Steps:
Create a Personal Use Contact Profile: Create a contact profile to cover all invoices created for items removed from inventory for personal use across multiple tax years. Only entries within the selected date range are included in tax reports.
Create a New Invoice to Remove Items from Inventory: The invoice Sale and Discount types automatically default to Personal Use (or Own Use), and the discount percentage is set to the value defined in your contact profile settings. Each time you remove items from inventory for personal use, record them with a new invoice.
Create a Personal Use Profile
- From the contact list toolbar, select the new profile button
to create a contact profile with your name. - From the contact profile toolbar, select the settings button
to open the Profile Settings screen. - In the Sales Settings slideout, under the Discount section, select Personal Use (or Own Use) from the options listed in the Default drop-down (this will set the Invoice Followup to 0 days, Email Invoice to No, and the Discount to 50%, which can be adjusted).
- Under the Options section, select Exclude from Dashboard (this will exclude your personal use sales from being included in your Dashboard statistics).
- Select Save to save and close Profile Settings.
- From the profile toolbar, select the X to close the profile.
Create a New Invoice to Remove Items from Inventory
We strongly discourage editing invoices to add items or using a single invoice as a running total. Part numbers, pricing, and calculations can change since the invoice was initially created, which may cause issues with the invoice and ultimately affect your data. Instead, each time you remove items from inventory for personal use, record them with a new invoice.
- Create a new invoice under your personal use profile (Sale type should be set as Personal Use).
- Select the add item button
to add items. - When finished, select to Email or Print the invoice, then select Save to save and close the invoice.
Additional Information:
We recommend that you check with your local taxing authority to ensure your business is handling each tax situation appropriately for your business.