Hello. Can anyone help please? I need to write off stock which needs to be shown as a separate expense on a monthly basis. We have an external stock control system and closing stock figure is entered as a journal "stock - closing stock" at the end of each month. I have "stock" on BS, "closing stock" on PL. "Stock sold to employees" and "stock written off" created recently on PL. What the journal would be? Thanks.
Last month I have removed previous month stock, entered new closing stock and reduced stock figure on BS by the amount to write off which went to write off nominal code on P&L. This month I cannot remove last month stock as my figures on BS and P&L do not agree by the amount written off :(
