You can create a special profile set specifically to invoice retail items taken from your inventory for personal use. We also recommend that you check with your local taxing authority to ensure your business is handling each tax situation appropriately for your business.
Create a Personal Use Profile
- Create a New Contact Profile with your name (to have the profile appear at the top of your Contact list add a space at the beginning of your last name).
- From the contact toolbar, click to open the Profile Settings screen.
- Under the Sales Settings section, from the Discount Type drop-down click and select Personal Use from the options listed.
- Under the Options section, select Exclude from Dashboard (this will exclude your personal use sales from being included in your Dashboard statistics).
- Click to save and close Profile Settings.
- From the profile toolbar, click to save and close the profile.
Removing Items from Inventory
When you need to take items from your inventory, just create a new invoice under the personal use profile created. By default, the invoice Sale and Discount Type will automatically be set as Personal Use or Own Use (depending on your country) with a 50.00% discount.
By handling personal use in this way, purchases will be totaled together on Gross Receipts report and will have the offsetting discount so that your net sales are correct while showing no profit made on these items (see Tax Reports & Year-End for more information about the Gross Receipts and other reports recommended for use when reporting taxes).
View Personal Use from the Invoice Log
By invoicing your personal use situations using the steps above, all of the transactions will be grouped together, and easily accessible under Invoice Log.
- From the sidebar navigation, clickBusiness Tools, then Invoice Log.
- From the Invoice Log toolbar, click to open the Filter slideout from the left-hand side of the screen.
- Under the Date Range drop-down, select a pre-defined date range from the options listed or choose Custom to enter a custom range (click OK when finished to close the Date Range screen).
- Under the Invoice Type drop-down, select Personal Use from the options listed.
- To print the invoices show in a tabular format, from the Invoice Log toolbar click then from the Print Preview toolbar, click .
- To add or remove columns, clickand select Column Chooser. Select Reset to return the view to the default layout.
- To print an invoice, select the next to the invoice. From the Invoice Log toolbar click then from the Print Preview toolbar, click .
- To email an invoice, select the next to the invoice. From the Invoice Log toolbar click to launch an email with the invoice attached. By default, the primary email address listed on the invoiced contact's profile will be used.