Hi there, k-handler.
For now, we can only adjust the quantity of the inventories in QuickBooks Online and not the value or amount. Although, you can edit the previous adjustment to correct the details. Here's how:
- Go the Search icon and select Advanced Search.
- Click the drop-down list for All Transactions, then select Inventory Quantity Adjustment.
- Select the appropriate filters from the ▼ drop-down list, then select Search.
- Look for the adjustment you need to change and click on it.
- Change the Adjustment date and the Inventory adjustment account if necessary.
- To add inventory items, enter the details in the New adjustments section.
- To make changes to the previous adjustment, edit the details in the Previous adjustments section.
- Enter a note why you edited the adjustment in the Memo field.
- Click Save and close.
Check out these articles for more details:
You can also choose to make a journal entry to change the amount of COGS. However, I'd recommend reaching out to your accountant for additional advice on this matter since it will affect your financial statement.
Let me know if you need anything else.
