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: