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How do I buy items from myself



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amother
OP  


 

Post Sun, Oct 06 2024, 7:29 am
I have a store where I sell a certain retail product. If I take some of it for myself how do I record it? Do I actually just buy it and pay myself? (Do I need to pay sales tax)
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amother
Slateblue  


 

Post Sun, Oct 06 2024, 7:37 am
Owner's draw, partner's capital
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amother
  OP


 

Post Sun, Oct 06 2024, 7:38 am
amother Slateblue wrote:
Owner's draw, partner's capital


Ok let me be more clear. How do I record the transaction and record that there is less stock available because I took some
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amother
  Slateblue  


 

Post Sun, Oct 06 2024, 8:26 am
amother OP wrote:
Ok let me be more clear. How do I record the transaction and record that there is less stock available because I took some

Either reduce purchases against partners capital or increase sales against partners capital.
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amother
SandyBrown


 

Post Sun, Oct 06 2024, 8:34 am
amother OP wrote:
Ok let me be more clear. How do I record the transaction and record that there is less stock available because I took some


Record a sale with payment of $0.00?
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amother
  Slateblue


 

Post Sun, Oct 06 2024, 9:15 am
amother SandyBrown wrote:
Record a sale with payment of $0.00?

No, the value of the item. How much $ do you want to remove from inventory?
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