how to adjust inventory in quickbooks
TRANSCRIPT
If your business involves any type of inventory, whether a enormous amount or presently a few items, the inventory
needs to be tracked. You can use QuickBooks for accumulate inventory information and also for regulating inventory counts
and standards based on the current market. You most likely count your inventory on an ordinary basis and any changes should be proof in your financial records. You don't want to pay taxes on inventory that you don't have; therefore, you
should always take an ordinary count and adjust your records as required. It is a very simple process to make these
adjustments with QuickBooks.
STEP-7 Type in the new physical count in the column named "New Qty" or enter a new value in the "Qty Difference" column and QuickBooks will calculate
the adjusted quantity for you.
STEP-8 Check the box named "Value Adjustment" if you want to see an expanded version of the open window; however, this is not necessary to change or adjust your
inventory.
STEP-9 Enter the new count in the "New Qty" column if
using the expanded method for value adjustments.
STEP-10 Use the "Memo" text box to write a short description or note to describe what you've done, who was involved in counting inventory or
other notes, if necessary.
STEP-11 Click the button marked "Save & Close" or "Save & New" to record your revisions.
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