Adjusting your inventory
Watch this video on how to make inventory adjustments or read on below.
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 in the left side menu.
To create an adjustment:
- Start by indicating the date on which you want to record this change in Inventory Asset.
- Indicate the currency.
- Choose an item from the dropdown menu.
- Add a description explaining the reasons for the changes made in the quantity on hand of this item.
- Indicate the change in quantity. For example, if you want to reduce your item quantity by 1, enter -1.
- Indicate the change in inventory value. For example, if you want to reduce your inventory value for the selected item by 100, enter -100.
- Select the account to which you would like to make this change.
- 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.