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Shawn P Adamo
Shawn P Adamo, CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions.
Category: Financial Software
Satisfied Customers: 2884
Experience:  CPA, Professor, CFP. CGMA, Business Consultant, Professor, PFS I have decades of experience answering these questions.
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I am using Quickbooks Pro 2015. Because of the nature of my

Customer Question

I am using Quickbooks Pro 2015. Because of the nature of my business I need to adjust inventory frequently. However, it is not always due to damage or sales. Many times it is because I did not have the correct count on an item to begin with. How can I
adjust the quantity with out making it a loss in my account? Thank you, Nijma
Submitted: 1 year ago.
Category: Financial Software
Expert:  Shawn P Adamo replied 1 year ago.
Note: If you track serial or lot numbers, QuickBooks needs to add or remove serial/lot numbers when you adjust inventory quantities. Therefore, you must assign serial or lot numbers to inventory items before adjusting the quantity on hand.
1.Choose Vendors > Inventory Activities > Adjust Quantity/Value on Hand.
Choose Inventory > Inventory Activities > Adjust Quantity/Value on Hand.
2.Click the Adjustment Type drop-down arrow and select: Quantity.
3.Enter the date of the adjustment.
4.Click the Adjustment Account drop-down arrow and then click the account where you want to track inventory adjustments.
Which account should I use?
5.Click the Inventory Site drop-down arrow and select the site to apply the adjustment to.
6.(Optional) Enter a reference number.
7.(Optional) If you want to assign this adjustment to a customer or job, click the Customer:Job drop-down arrow and then click a customer or job.
8.(Optional) If you use class tracking, click the Class drop-down arrow and then click a class.
9.Click in the item column to add items. You can also
add multiple items
.
10.Enter the New Quantity or the Qty Difference in the appropriate column.
In the Qty Difference column, enter the difference between the quantity currently in QuickBooks and the actual quantity.
For example, if you need to reduce the quantity by five, enter -5 as the difference.
11.(Optional) Enter a memo in the Memo field to remind yourself later why you made this quantity adjustment.
12.Save the adjustment.
Expert:  Shawn P Adamo replied 1 year ago.
I also offered you a call to discuss this (5.00) or walk you through it.
If you have other questions please ask now or later and I'll be happy to respond. I’ll be notified (even if I leave).
If not PLEASE rate this answer so I can be freed to help another person.
Even after you rate my response we can continue to chat here at no extra cost to you.
As I strive for quality vs. quantity, I find I can only handle a limited number of questions at a single time.
Expert:  Shawn P Adamo replied 1 year ago.
If you do not require further assistance PLEASE rate this answer so I can be freed to help another person.
If you have other questions please ask now or later and I'll be happy to respond. I’ll be notified (even if I leave).
Even after you rate my response we can continue to chat here at no extra cost to you.
As I strive for quality vs. quantity, I find I can only handle a limited number of questions at a single time.

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