You can create a special profile set specifically to invoice retail items taken from your inventory for the following business-related situations: section 1 product used as a demo, products being donated, lost, expired or other similar situations. We also recommend that you check with your local taxing authority to ensure your business is handling each tax situation appropriately for your business.
- Only one profile needs to be created to handle the situations described above. Each invoice can be assigned to a specific expense category and grouped separately as well as the date.
- The steps below should only be used for section 1 items. The amount spent on section 2 is tracked on the Product Purchases report (See Tax Reports & Year-End for more information).
Create a Business Supplies Profile
- Create a New Contact Profile named Business Supplies.
- 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 Business Supplies from the options listed.
- Under the Options section, select Exclude from Dashboard (this will exclude your business supplies 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.
Invoice & Add the Expense Entry
When you invoice the business supplies profile for section 1 demos, donations, lost, damaged or expired product it is similar to invoicing for personal use except that there is one additional step which is adding an expense entry. This allows you to categorize the expense without double deducting on your taxes.
- Create a New Invoice under the Business Supplies profile (only add items that will be expensed to the same category for each invoice).
- After adding the items to the invoice, under the Details tab on the bottom of the invoice, mark the invoice paid-in-full by clickingto the right of the Cash/Check field.
- For future reference, enter a short description as to why the items are being invoiced in the Memo field (the memo is displayed on the Account & Invoices tab of the profile).
- Click the Discount tab. Under the Discount Type section select the appropriate category from the Expense Category drop-down options listed (use suggestions below or seek the advice from your tax professional).
- If desired, choose to either Email or Print the invoice. Invoices can also be printed or emailed from the Invoice Log.
- Click to save and close the invoice.
Items where the recipient is not known
Items used as a giveaway to gather leads
Items donated to a shelter or other organization
Items that were lost or damaged in shipment, or are expired and have exceeded their maximum shelf-life.
For more information on categories, see Expense Categories.
View Business Supplies Invoices from the Invoice Log
By invoicing your business supplies 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.
- 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 Business Supplies from the options listed.
- To print the invoices show in a tabular format, from the Invoice Log toolbar click then select Print. 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 select Print. 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.