Handling Personal Use

To record items taken from inventory for your own use, create a Personal Use contact profile and invoice the items using that profile. This keeps the removal tracked consistently and separate from business activity. 

When handled this way, these invoices still appear on the Gross Receipts report with an offsetting discount. This ensures net sales remain accurate while showing no profit on the items. Personal use invoices can be excluded from the Gross Receipts report, and the information can be filtered separately in the Invoice Log. See Filter Invoices by Name, Invoice, or Discount Type for detailed steps.

Steps:

Create a Personal Use Contact Profile: Create a contact profile to cover all invoices created for items removed from inventory for personal use across multiple tax years. Only entries within the selected date range are included in tax reports.

Create a New Invoice to Remove Items from Inventory: The invoice Sale and Discount types automatically default to Personal Use (or Own Use), and the discount percentage is set to the value defined in your contact profile settings. Each time you remove items from inventory for personal use, record them with a new invoice.

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Step 1: Create a Personal Use Profile

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1. Create a contact profile to handle items taken for your personal use.
2. From the profile toolbar,  select Settings (in Utilities).
3. From the Discount Type drop-down options, select Personal Use (or Own Use if you live in Canada), then under Options, check to Exclude from Dashboard. 
4. Click OK to accept and close the form, then Yes to save the profile settings.

Step 2: Create a New Invoice to Remove Items from Inventory

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We strongly discourage editing invoices to add items or using a single invoice as a running total. Part numbers, pricing, and calculations can change since the invoice was initially created, which may cause issues with the invoice and ultimately affect your data. Instead, each time you remove items from inventory for personal use, record them with a new invoice.

1. Create a new invoice under your Personal Use profile (Sale type should be Personal Use).
2. Add items by using Lookup or entering a partial part number or item name in the Description field.
3. When finished, select Save to complete the invoice.

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Additional Information:

We recommend that you check with your local taxing authority to ensure your business is handling each tax situation appropriately for your business.

• If you cannot find your personal use profile, see Find a Missing or Duplicate Profile for help locating it. 
• The GST remittance form will always include personal use.
• Handle Demos, Donations, or Expired/Product Loss
• Year-End Guide & Checklist
• Close Year-End & Run Tax Reports