How do you account for expired merchandise in SBOSS?

Question

Is there a way to enter expired merchandise in SBOSS so that it deducts it from inventory and also marks it as a loss rather than as income for when I do income taxes?

Answer 1

Yes, there is a way to account for expired merchandise in SBOSS. You can enter the expired merchandise in SBOSS, which will deduct it from inventory and mark it as a loss instead of income for tax purposes.