While monitoring your inventory you might sometimes discover that you have either more or fewer of an item than shown in QuickBooks. You can now manually adjust an item’s quantity without recording a separate purchase or sale if you are using track inventory in QuickBooks online plus, to match what you actually have in stock. In this article you will learn how to adjust Inventory quantity in hand. To know more call QuickBooks point of sale support.
Follow the steps given below to enter an Inventory Quantity Adjustment
• Click on the Plus icon (+) present on the upper right.
• Select Inventory Qty Adjustments under other.
• Enter the date of adjustment.
• Select the appropriate account in the Inventory adjustment account field.
• Choose the product(s). Note that the description and current quantity on hand will auto-populate.
• For each item, enter either a new quantity or a change in quantity.
For Example: It is shown in the Qty on Hand column that you have 10 widgets, but you discover that 2 of them are missing. So, now you can adjust the quantity either by entering -2 (negative 2) in the Change in Qty column or by entering 8 in the New Qty column.
• (This step is Optional) Enter Memo.
• Click on Save.
QuickBooks online records appropriate adjustments to your stock Asset and Cost of goods sold accounts (under stock shrinkage) accounts automatically when you save the inventory adjustment.
Follow the steps given below, if you need to see your quantity on hand for a certain date:
• From the left menu, select reports.
• In the search bar enter the balance sheet.
• For the Total for Inventory Asset, select the link (or any other account you are using for the inventory item).
• Select Customize on the report that comes up.
• Choose Product/Service in the Rows/Columns section from the Group By drop-down.
• From the available columns list, select QTY.
• Click on Run Report.
Steps to edit or delete an Inventory Quantity Adjustment
• Click on the Search icon in the upper right.
• Choose Advanced search.
• Choose Inventory Quantity Adjustment from the All transactions drop-down.
• (This step is optional) Choose a filter, and then select Add Filter.
• Click on Search.
• Select the adjustment you need to edit or delete from the search results.
To know more on how to adjust Inventory quantity on hand in QuickBooks call QuickBooks point of sale Support on toll free number 1-800-290-0629. Also, you can write us at firstname.lastname@example.org .Feel free to reach us anytime; our team of executives is 24/7 available at your service. Our team consists of well-trained technicians and accountants who will not only analyze your problems but also provide you the best solutions based on the analysis. For more information visit, www. qbooks247.com.