QB Issue Resolution:
In newer versions of QB, an Inventory Adjustment would be made. This function is located in the Company section – Inventory Activities – on the Home Page. I no longer use QB 2011 and do not recall if this feature was available in that version. You should look around in the data file for something similar. Regarding the statement that no money is changing hands: There may well be Tax implications. Since PST is payable only by the end user of an item PST is not payable on resale items. If PST system is utilized in your province, you may be responsible for remitting the PST on the items removed from inventory for resale. The other concern would be that although no money changed hands, the value of your Inventory is reduced.
Resolution for Issue 'How do I enter stock used by the business?' available: Yes (Solved).
Source: Intuit Community forum.
How do I enter stock used by the business?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for Inventory
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