Skip to main content
November 21, 2021
Question

How to make entry for Goods drawn by proprietor for personal use?? I need to make the entry Item by item Ex Audio Cable AD3201 01 Nos etc

  • November 21, 2021
  • 1 reply
  • 0 views
Original commenter did not share additional details

1 reply

MichelleBh
November 21, 2021

I'll guide you on how to enter goods item by item in QuickBooks Online, @civeqatar2019

 

Entering goods that are considered personal use involves only two processes. I'll be happy to outline the complete steps to reach your goal.

 

To begin, let's create a non-inventory item for these products to personalise them. Follow the steps below: 

 

  1. Go to the Sales tab on the left pane. 
  2. Select Product and Services
  3. Click New and choose Non-Inventory
  4. Enter the product name in the field and complete the required details. 
  5. Hit Save and close.
  6. Repeat the steps for your other goods. 

 

For more information, see this link: Add product and service items to QuickBooks.

 

After this, let's create an expense transaction to record goods that are taken for personal use.

 

Here's how: 

  1. Go to the +New tab and select Expense.
  2. Choose the client name in the Payee drop-down.
  3. Select the appropriate Payment account and Payment method in the field. 
  4. In the Item details section, pick all the non-inventory items you created. 
  5. Enter the amount in the box. 
  6. Click Save and close

 

For further details, check out this article: Enter and manage expenses in QuickBooks.

 

On top of that, I'd recommend reaching an accountant. They can verify the categorisation to ensure that the item will be posted in the inventory asset and cost of sales account. If you don't have an accountant, you can go to this link to find an expert: Get a bookkeeper.

 

I've added articles below on how to change the item type and handle non-inventory categories in QuickBooks: 

 

 

Never forget that my doors are always open for any assistance you need. Please post a response below. Take care,civeqatar2019.