Occasionally, you may need to record adjustments to on hand quantities of inventory items. The Inventory Adjustment task makes it easy to make these adjustments and to track them.
There are two types of inventory adjustments, increases in quantity and decreases in quantity.
- For an adjustment up, you will enter a positive quantity and can also enter a unit cost. This will increase your quantity on hand and total inventory value much as a purchase would. If you previously miscounted your inventory and now have more units on hand than you thought you had, you could adjust up.
- For an adjustment down, you will enter a negative quantity, but you can't enter a unit cost. Sage 50 will figure out the cost value of the adjustment, much like a sale. An inventory adjustment down will decrease the quantity on hand as well as the total value. If something was stolen or broken or if inventory was previously miscounted, you could adjust down.
To record an inventory adjustment
- Click the Inventory Adjustments navigation aid on the Inventory & Services Navigation Center. The Inventory Adjustment window is displayed.
- Enter or select the item ID you want to adjust. To display a list
of existing items, type ? in this
field, or select the Lookup button. To add a new item, type +
or double-click the field, which displays the Maintain Inventory Items
window.
This can only be an item classified as a stock item, serialized stock item, assembly item, or serialized assembly item. If the item is serialized, the Serial No button will become available when you select the item ID. You will need to enter or select serial numbers after you have entered an adjustment quantity in Step 7.
- Enter anything you like in the Reference
field up to 20 alphanumeric characters.
For example, you could enter your initials or the date in this field.
- Enter or select the date the change in inventory occurred or the date of the physical inventory count.
- If this adjustment is being made to account for inventory used in a job, enter or select the job.
- If necessary, enter or select a G/L account to take this adjustment out of, and
enter a unit cost for the inventory item (for positive adjustments only).
The default G/L source account is the Cost of Goods Sold Account. The other account affected by adjustments is the inventory account. To change the account ID, type ? in this field, or select the Lookup button.
The Unit Cost default is the current cost of the item and must be positive.
- Enter the amount to adjust
the quantity by.
The Quantity on Hand is already filled in, and the New Quantity is calculated after you enter the adjustment.
- If you know the reason for the adjustment, enter it.
For example, Found in warehouse or Theft.
- Click Save.
If this adjustment is being made to a serialized inventory item, select the Serial No button. Depending upon whether you enter a positive or negative quantity,
either the Serial Number Entry or the Serial Number Selection window will appear.