Adjusting your inventory

If you need to adjust a discrepancy in your inventory quantity or value (e.g. writing off a damaged item, or revaluing your entire inventory), you can do so in the Inventory adjustments module.

Step-by-step instructions

To create an adjustment:

1. Enter the Date on which you want to record this inventory adjustment.
2. Choose the currency.
3. Choose the Warehouse you're adjusting the quantity in.
4. Choose an Item from the dropdown menu.
5. Add a Description explaining the reasons for the changes made in the quantity on hand of this item.
6. Indicate the change in Quantity. For example, if you want to reduce your item quantity by 1, enter -1.
7. Indicate the change in Inventory value. For example, if you want to reduce your inventory value for the selected item by 100, enter -100.
8. Select the Account to which you would like to make this change. For example, if it's an adjustment for damaged items, you may have a dedicated expense account called Damaged items expense.
9. Change the status of the adjustment to POSTED to post the adjustment to your books. You can confirm that the adjustment has been posted when a yellow journal icon shows up in the first column.