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Fields in Inventory Adjustment

 

 

 

 

 

User selects the inventory to be adjusted. (only inventory items will show in the list)

 

1.Type in the Quantity to increase or decrease the quantity held. Only enter the quantity variation.

2.Enter the quantity in inventory units, not buying or selling units.

a.After user chooses item, this quantity amount by default is 0; user can input maximum 6 decimal numbers.

b.If user entered a positive number, that number is added to the on-hand inventory. If user entered a negative number, that number is subtracted from the on-hand inventory. User needs to make sure there is enough on hand quantity to be deducted.

3.Unit cost of the item appears by default. This unit cost is calculated based on this item’s total cost divided by the number of units on hand. If these are new items, enter their purchase cost. The unit cost under Adjust Inventory is equal to the Average Cost in Item details. 

a.Quantity on hand = this item’s quantity amount in Purchase open bill + close bill + Receive item + Adjusted item – sales open invoice - closed invoice – returned stock – Built Item. (Read only label)

b.Current Value = this item’s amount (exclude tax) in Purchase open bill (or close bill) + Receive item + Adjust item – sales open invoice (or closed invoice) – return stock - Value on quantity requested in Build Item. (Read only label)

c.Average cost = Current value /quantity on hand. (read only label)

d.By default it automatically loads the Item’s average cost, but user can input 6 decimal place of number.

 

4.The Amount field is equal to quantity multiplied unit cost. If user changes the amount manually, the unit cost will then be recalculated accordingly.

5.User may select an Account to assign the adjusted amount. If user is going to reduce the inventory value, this account is usually a cost of sales or expense account.

6.Memo: User may input the reason for this adjustment as reference.

 

 

 

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