There are a couple of ways to correctly account for damaged, wasted, expired, spoiled, stolen, or otherwise "lost" inventory. Each industry will have a different preferred term, but as far as Thrive Inventory by Shopventory is concerned, we've got a few different ways of handling them.
Option 1 - Using Stocktakes
Stocktakes are a great tool that can be used to reconcile and get your inventory up to date. Our Suggestion - try using the Custom Reason by clicking 'New' next to 'Reason' and marking it accordingly as a loss for your records! Examples for new reasons could be "Expired Goods," "Spoilage" or "Theft," so you can accurately keep tabs.
Option 2 - The Manual Adjustment
You also have the option to simply edit the quantities (via Actions -> Edit on the inventory page) and add a note explaining the loss.
This method will track the losses directly on the Inventory Change Reports (just check the "Removed" column).
Option 3 - The Discount
To track loss as part of your sales, we recommend running the products through the point of sale as a "sale" with a 100% discount.
In this approach, the losses are tracked in your Discount Report and the inventory is accurately decremented.
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