How to account for goods (inventory) that was purchased, but never actually taken possession of, due to the deal falling through, but I was still stuck with the expense?
How to account for goods (inventory) that was purchased, but never actually taken possession of, due to the deal falling through, but I was still stuck with the expense?
This would be reported under the Losses Profile which can be found under the Deductions tab - Losses Profile.
How to account for goods (inventory) that was purchased, but never actually taken possession of, due to the deal falling through, but I was still stuck with the expense?
Thanks. And do I input 'zero' for the line that asks "What was the value of your closing inventory?". I'm worried that declaring something as having value at opening inventory, and then being a complete zero at closing would raise red flags for the CRA...
How to account for goods (inventory) that was purchased, but never actually taken possession of, due to the deal falling through, but I was still stuck with the expense?
It's a loss so yes you input zero.
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