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COGS shrinkage: how do I record an insurance claim cheque of damaged goods

the claim check is income, I use other income

the inventory that was damaged should be adjusted our of stock  to COGS shrinkage

On the P&L, the income will be offset by the cogs-shrinkage amount and there will either be profit or loss

Resolution for 'COGS shrinkage issue: 'how do I record an insurance claim cheque of damaged goods' available: Yes.

The COGS shrinkage 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 COGS shrinkage issue yourself by looking for a resolution described in the article. If it is a complex COGS shrinkage issue or you are unable to solve the issue, you may contact us by clicking here or by using other COGS shrinkage support options.

For more information about resolving issues related to COGS shrinkage in Quickbooks/QBO or to get support for the issue 'how do I record an insurance claim cheque of damaged goods', click the link below:

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COGS shrinkage: shrinkage create a

When you turn on inventory (qty tracking) in QBO, the COGS and COGS shrinkage sub accounts get created for you.  Well I have not checked on when shrinkage actually gets created, but when you use inventory adjust the first time, it does exist.

turn on inventory, QBO+ only

gear>settings>company settings
sales>products & services
and […]

Resolution for 'COGS shrinkage issue: 'shrinkage create a' available: Yes.

The COGS shrinkage 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 COGS shrinkage issue yourself by looking for a resolution described in the article. If it is a complex COGS shrinkage issue or you are unable to solve the issue, you may contact us by clicking here or by using other COGS shrinkage support options.

For more information about resolving issues related to COGS shrinkage in Quickbooks/QBO or to get support for the issue 'shrinkage create a', click the link below:

Details