thread Re: inventory items or gift certificates given as tax deductible charitable donations? in Archived Discussions (Read Only)

inventory items or gift certificates given as tax deductible charitable donations?

TPSP — Thu, 06 Apr 2017 22:16:56 GMT

How can we record inventory items or gift certificates given as tax deductible charitable donations? For example a vase given toards a silent auction to benefit a non profit. Is there a way to have it record the transaction for our tax report and remove the item from inventory without accepting payment?

Re: inventory items or gift certificates given as tax deductible charitable donations?

Sean — Sun, 09 Apr 2017 21:58:20 GMT

Hi @TPSP and welcome to the Seller Community! We're happy to have you. As for your question, I'm not sure that we really have a solution in place to handle something like this. Are you saying that you want to record someone giving you a vase? or the sale of the vase to someone else? Sorry about the confusion!

Re: inventory items or gift certificates given as tax deductible charitable donations?

TPSP — Thu, 13 Apr 2017 19:40:21 GMT

Hi Sean, thanks for the help! We, as a business often donate items to local charities to sell at charity auctions or give away in a raffle type scenario. We do not charge them. We would like a way to remove it easily from inventory, as if sold, AND record it as a donation for our tax records. When we print out our Sales and Tax info, these gifts should be noted. Does that make sense?

Re: inventory items or gift certificates given as tax deductible charitable donations?

Sean — Thu, 13 Apr 2017 22:37:32 GMT

Hi again @TPSP. It definitely makes more sense, but unfortunately this isn't really a functionality we support. It sounds like something Quickbooks or another piece of account software would be your best option. Our software is primarily designed for sales with external customers.