Get Dead Stock Register 2020-2025
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The journal entry for dead stock typically involves debiting an expense account and crediting the inventory account to remove the stock from your books. For example, if you write off $1,000 of dead stock, you would debit 'Loss on Inventory Write-Off' and credit 'Inventory' for the same amount. Keeping a detailed Dead Stock Register allows for easy verification of these entries. This practice ensures accuracy in your financial reporting.
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