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Can I sell an item whose stock is zero or negative? ​

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Yes: the register always sells, with or without a network. Depending on the store's setting, a line "More than the available stock" followed by the available quantity shows under the item, and the Pay button stays active. The stock is then put back to its true level, by a receipt, a count or an adjustment; sales already made do not change.

Full guide : Understanding negative stock.