advice on buying parts from customers?

Posted by Phil Nelson on June 12, 2007, 1:12 pm

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I use QB 2005 Pro to keep books in my small repair business.

Sometimes I remove serviceable parts which I may be able to use later
when repairing equipment. My plan is to credit the customer on the invoice.

So far (it's a fairly new business) I have sold a few parts I found
lying around the shop. I have created some non-inventory items for this
(xyz part, used, tested).

To credit a customer invoice for a used part I receive, is it sufficient
to create a discount expense either for individual parts or for
categories of parts?

I'm too small to get very complicated, if the bookkeeping overhead is
great, or if there is a significant risk of getting into trouble with
any authorities later, I just won't do it.

Is there a QB button somewhere I can just push to set this up? Maybe in
a newer version?

--
Phil Nelson