Identifying and recording obsolete trading stock write-offs for a small business involves several steps. Its that time of year, when you should undertake you annual stock take. We suggest to be practical in your approach. Use scales and estimates for small items such as screws , widgets and small items. A practical approach - obsolete items. Here's a general guide on how to approach this process: Identify the stock items: Review your inventory records to identify any obsolete trading stock that needs to be written off. Look for items that are damaged, expired, obsolete, or otherwise unsellable. When doing a [...] READ MORE