Inventory Adjustments

Navigation: Press the Adjustments button at the top of the Inventory Entry window.

Normally, Inventory Adjustments should only be used to set your initial quantities, and to fix your quantities when items are stolen or damaged. When you receive items from your suppliers, or return items to them, Purchase Orders should be used. Purchase Orders are the better choice because:

• You track who you ordered your parts from.
• You can send your suppliers printed or emailed Purchase Orders.
• You can compare the ordered with the received, and track backorders if desired.
• You can create and verify Bills automatically.
• You can automatically generate Bills when your stock gets below your reorder levels.
  

That being said, there are still some shops who use Adjustments exclusively, and create their bills manually.

Adding / Subtracting a Quantity

• In Inventory Entry, select the item in your inventory list.
• Press the Adjustments button at the top of the window.
• Adjust the quantity in one of these two ways:
  1. In the Quantity to Add or Subtract box, enter a positive or a negative number.
  2. Enter the current quantity in the New Quantity box.
• You can now press Post Adjustment to complete the adjustment. Alternatively, before pressing this button, you can make the following changes:
  • You can check the Adjust Quantity as of box at the top of the window and enter a date and time. For example, if you know you had 20 of this item last night at 6:00pm, but are not sure if any have been sold or purchased since then, you can set the date to yesterday at 6:00pm and set the New Quantity to 20.
  • You can enter your new cost, if it has changed.
  • If this new cost will be the regular cost from your supplier, check the Update Catalog Cost box.
  • If you change the cost, you have the option of also adjusting your prices accordingly.
    • If you check the Use Current Group Margins box before recalculating the prices, it will set the prices according to the markups or margins specified in the Item Group Setup.
    • Otherwise the prices will be adjusted by the same percentage that the cost changed. So if you raise the cost by 10%, the prices will go up by 10%.
  • You can also press Create a New Batch before posting the adjustment. All adjustments are put into batches, which are accessible in the Purchase Order. If you do not press this button, the adjustment will be added to the most recent batch. Otherwise, you can enter a date, reference number and notes, and then press the Create a New Batch, so that later you will be able to look back and see why you made the adjustments.

Posting to General Ledger

If you have the Accounting Module, you can check the radio box Post to G/L if you wish for it to post:

• If you will be creating a bill for receipt of this item, do not check this box.
• If you are just adjusting your inventory because of a mistake or a theft, you would check the box.