You may need to make inventory adjustments when there are changes in the quantity of your active inventory items (e.g., misplaced, broken, mistake). A positive quantity increases your inventory and a negative quantity decreases it. Inventory adjustments are done per product.
What you'll find:
I want to see an example of Inventory Write Downs
I want to Find the Dollar Value of Inventory Adjustments
I want to read the white paper (with screenshots) about Lot Number Management.
Tip
Details about inventory adjustments - including weighted-average unit costs - can also be found in the Inventory Adjustment data export (manual counts are not included in the data export).
When you adjust inventory, agrē automatically makes various updates, which may include GL postings, cost history table amendments for inventory items, and inventory count amendments.
Note
Inventory adjustments must have unique reference numbers.
Use the Inventory Adjustment window to adjust inventory.
To adjust an inventory item
* indicates a required field
On the Inventory menu, click Inventory Adjustment.
The Inventory Adjustment window opens.
In the Product* box, enter the product you want to adjust.
Tip
Click Find to search for a specific product or click Add to add a new product.
In the Units* box, optionally change the unit of measurement for the product.
The default unit, which is either the main units or the preferred units for the product, (set up in Manage Products) is selected by default.
(Config U) In the Location* box, enter the location that owns the adjustment (i.e., the location where the inventory count should be updated).
Note
Quantity on Hand displays the quantity of the product in the selected units, at the selected item location.
Tips
Click Details to view additional inventory details for the product (e.g. quantity on order). The window opens and you can view the additional inventory details.
Click Show Other Locations to view the same information for all locations.
To enter a specific reference number, clear the Generate Reference Automatically check box and type a number in the Reference Number* box.
Each inventory adjustment requires a unique reference number for future tracking. If the Generate Reference Automatically check box is selected, agrē assigns the next sequential inventory adjustment reference number to this inventory adjustment.
In the Adjustment Date* box, optionally change the date that you are making the inventory adjustment.
Today’s date is selected by default. You can change this date to a past date, but not to a date in a closed accounting period. Future dates are not permitted.
In the Quantity* box, enter the quantity of the product being adjusted (i.e., gained or lost).
Use a positive number to increase the quantity and a negative number to decrease the quantity.
In the Est. Unit Cost* box, optionally change the estimated cost of the product being adjusted.
If you entered a negative quantity, this box is hidden since a negative cost is not required for a negative quantity. (A negative quantity means inventory is moved out and costs are taken from the Cost History Table.) Negative values are not permitted. A default estimated cost may or may not be automatically entered, depending on your system settings (set up in Manage Products) and the product Cost History Table.
In the Comments* box, enter comments about the inventory adjustment for your own use.
These comments are printed on Inventory Activity Detail reports.
In the GL Account* box, optionally change the GL account that the inventory adjustment is posted to.
The default COGS account for the product (set up in Manage Products) is selected by default.
Tip
Click Add to add a new GL account
(optional) In the Project box, enter the project that you want the inventory adjustment to be associated with.
When you associate the product with an active project, the cost of goods sold postings are also associated with the project. If the product is already associated with a default project (set up in Manage Products), then the default project is selected by default.
Tip
Click Add to add a new project.
(optional) Select an existing Lot Number from the drop down list.
Note
Each product row can be associated with only one Lot#. If you are adjusting the same product from multiple Lot#s, you'll need to enter one product row for the quantity of each Lot#.
Click Save.
Your inventory counts are updated to reflect the inventory adjustment.
To edit an inventory adjustment
* indicates a required field
On the Inventory menu, click Inventory Adjustment.
The Inventory Adjustment window opens.
If the adjustment you want to edit is not shown by default, click New Search and change the criteria to include it.
Select the adjustment you want to edit and click Edit.
Modify the data as needed.
Save your changes.
To delete an inventory adjustment
* indicates a required field
On the Inventory menu, click Inventory Adjustment.
The Inventory Adjustment window opens.
If the adjustment you want to delete is not shown by default, click New Search and change the criteria to include it.
Select the adjustment you want to delete and click Delete.
The Confirm Delete window opens.
Click Yes to delete the adjustment.
The adjustment is deleted immediately and cannot be recovered.