Donating Inventory

I'll help you remove your donated inventory to your balance sheet in QuickBooks, @AnneB8.

I can see that this concern is tag under both QuickBooks Online (QBO) and QuickBooks Desktop (QBDT). Let me provide the steps on how we can perform this action in QBO.

To start with, we can create a sales receipt to track the inventory that you've donated. Then, create a journal entry to  associate the donations that you've made to your Charitable Donations Expense account. Here's how:
 

1. Click the + New icon and select Sales Receipt.
2. From the Deposit to drop-down arrow, choose your bank account. This will create a zero dollar transaction in your bank register that can be reconciled at any time.
3. In the Product/Service section, select the product you are donating.
4. Change the Rate of the selected product to zero, then click Save. Then, select X to close out the screen.
5. Click again the + New icon, then select Journal Entry.
6. In the Account section of the first line, choose the expense account used to track charitable contributions (for example, Charitable Donations Expense).
7. Enter the cost of the product in the Debits field.
8. On the next line, choose the Cost of Goods Sold (COGS) account for the item you donated. The cost of the product entered on the line above will populate the Credits field.
9. Select Save and close.

For QBDT, go to the Customer Center and select Enter Sales Receipts. You can also access the journal entry screen by going to the Company menu and selecting Make General Journal Entries.

However, for your second concern, it would be best to reach out to your accountant. This way, we can make sure if your company can take it as a full deduction.
 
In addition, you can run the Balance Sheet report in QBO to review your assets, liabilities and equity. Just go to Reports and search Balance Sheet. You can find this report in QBDT by going to Reports. Then, select Reports Center and search for Balance Sheet.

I'm always here to help if you have any other concerns or questions. Just tag my name in the comment section and I'll get back to you as soon as I can.