Set up the accounts and items described below. Use the overages and
shortages items in the Enter Sales Receipt window when you are creating a daily
sales summary to record any discrepancies. You'll see any overages and
shortages in sales reports. Remember to enter a negative number when entering
To do this task
Go to the Lists menu and click Chart of Accounts.
Click Account at the bottom of the list and click New.
Create an Income account called Discrepancies.
Create two new income subaccounts-Overages and Shortages-for the
Go to the Lists menu and click Item List.
Click Item at the bottom of the list and click New.
Create a noninventory part item called Overages, and assign it to your
Decide whether you want to mark this item as taxable. If marked as taxable,
this amount appears on your sales tax liability report.
Create a noninventory part item called Shortages, and assign it to your