I appreciate the time and effort you've put into participating in the Community thread, NiknicW.
To maintain accurate inventory status in QuickBooks Desktop, it's important to update inventory quantities and values as you track purchases and sales. However, occasional adjustments may be necessary to ensure the accuracy of your inventory records.
As a business owner, it's common to make adjustments to your product quantities as needed. These adjustments help you keep track of any changes in your inventory that are not related to sales or purchases. Once you've set up your adjustment account, you have the flexibility to update a product's quantity, value, or both. Follow the steps below to manage your product inventory effectively.
- Select Vendors and then Inventory Activities. Then, select Adjust Quantity/Value on Hand.
- Select Inventory and then select Adjust Quantity/Value on Hand
- Select the Adjustment Type ▼ dropdown, then select Quantity, Total Value, or Quantity and Total Value. Select the adjustment type option and then select your adjustment account.
- Enter the Adjustment Date.
- Select the Adjust Account ▼ dropdown, then select the adjustment account you set up.
- Add Reference No. You can also assign a customer, job, or class.
- Select Find & Select Items. Select the items you want to adjust. If you have a lot, search for any product in the Find field.
- Select Add Selected items.
- Add a new quantity or new value (or both) for each item. Tip: It helps to check the quantity difference when recording a quantity adjustment. The difference should be negative if you’re recording a decrease in quantity. If you’re recording an increase, it should be positive.
- Select Save and Close.
For a comprehensive understanding of how to modify the quantity or total value of your products, I suggest taking a look at this article: Adjust your inventory quantity or value in QuickBooks Desktop. This resource furnishes a thorough breakdown of the procedures involved in adjusting a product's quantity as needed.
Additionally, you can visit the outlined article for more insights and information on how to receive inventory with or without a bill in QuickBooks Desktop.
If you have any questions about other processes in QuickBooks Desktop, please don't hesitate to ask me in the comments below. Have a fantastic day!
