How do I buy items from myself

amother

OP ↓

Today at 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)

amother

Slateblue ↓

Today at 7:37 am

Owner's draw, partner's capital

amother

↑ OP

Today at 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

amother

↑ Slateblue ↓

Today at 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.

amother

SandyBrown

Today at 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?

amother

↑ Slateblue

Today at 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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