What to do with parts that are ineligible for return

[bentwrench54]

Like the topic says, I'm cleaning out some parts that I have no sales history on. Got a couple answerbacks for parts that are ineligible for return.

What do I do with them?

How do you write stuff off of your inventory? I've got some stuff here that I've never sold.

Thanks in advance

--Robert, prepping for my first inventory

[JGROSS1978]

Return Ind is N or Y in Part Availability.

[bentwrench54]

They are indicated as N. I checked that after I've gotten the answerback that said that they were ineligible for return.

[FixedManager]

Write them off, do not wait!

Sit with your Controller and Dealer Principle and setup a monthly plan. Don't wait for a Physical Inventory, Don't wait for "extra money", Don't fall in love with the parts, Don't be concerned with the minor pay hit. Do the right thing for your inventory and ownership.

[bentwrench54]

How does one go about "Writing off" parts?

[CMayne]

How does one go about "Writing off" parts?

My best bet was to check with High School or College auto depts. Donations to schools are tax deductable.
Just make a deal with the teacher that they take everything and they can throw away what they don't want.
Bring that up with your DP and make sure they are in a tax situation to handle it.
Happy New Year to you all!
PS: Your office manager should be able to tell you how to handle a donation.

[greenthumb-38]

How does one go about "Writing off" parts?

determine the value of the parts to be disposed. Discuss with the management team and have the JV adjustment made, lowering acct 242 by the value and the offsetting debit to acct 688. I do not dispose of the parts until I see the adjustment in the acct screen, just in case they don't "change their mind". Document everything.

- gt writes off about $10k a year

[MSInventory]

Fixedmanager is right!
Get rid of it now!
Charge it off to your "inventory adjustment" account and scrap it.

Read my quote below.

[smoyer]

Like the topic says, I'm cleaning out some parts that I have no sales history on. Got a couple answerbacks for parts that are ineligible for return.

What do I do with them?

How do you write stuff off of your inventory? I've got some stuff here that I've never sold.

Thanks in advance

--Robert, prepping for my first inventory

Are you GM dealer? and do you get pace money? i use part of pace money and put in 688 account and use that to get rid of parts it is cheaper to use that money than to take a direct hit to your pay plan assuming anything you write off goes against your pay plan i also use it instead of doing cso returns than i don't pay the 35% rape charge GM issues

[bentwrench54]

Are you GM dealer? and do you get pace money?

Yes, I am a GM dealer. I do get pase $$$ but I didn't ask about using it for that purpose.

This is my first full year as a parts manager. I took over halfway through 2018, and we're not 100% sure what the previous manager was up to. The office wrote off a substantial shortage so that I myself have a clean parts slate starting this year. Was almost a 10k shortage.

The previous PM RARELYreturned anything. I myself returned about $3k in parts in December of stuff that we haven't sold in 3+ years. Used not quite half of my allotted return reserve.