Manually Adjust Inventory Items In QuickBooks 2019
Watch this QuickBooks 2019 video tutorial and learn how to manually adjust the items in your inventory.
Okay, we’re on the last section of module six. We’ve been talking about working with items and inventory. The only thing we have left to talk about is how do you adjust your manual inventory.
When you go to the back room and when your count is different from what QuickBooks says. There is a place you can go in and manually adjust that so that it stays correct.
Let me show you how this works.
In order to manually change your inventory, you have to go back to the items list where you see the actual inventory. And, if you remember, when we set up our screen doors that we actually have seven of these now and let’s say that we go in the back and count, and we really have eight. Let’s adjust that.
Now, you have a lot of options down at the bottom of your screen. For example, under the Item here’s where you can create a new one, duplicate one.
A lot of these, when you right click you see the exact same items. If you go to the Activities button, you’ll see a lot of things like here, you can enter sales receipts, change prices. Things like that! But look at the bottom one, Adjust Quantity/Value on Hand. And by the way, you can also get to that by right-clicking and adjusting the quantity or value on hand.
The first thing we want to do is tell QuickBooks that we are adjusting the quantity, the total value, or both. We’re going to say the quantity in this case. We’re going to choose an adjustment date.
We’ll say January 31st, and also, there should be an account set up for this and if there’s not one then you would want to set one up. You would actually just call it Inventory Adjustments. And when it asks you what type you can go ahead and set it up as a cost of goods sold and just go ahead and Save & Close.
You can set a reference number. It’s going to start with number one, but you can change that to any number you’d like. If this is related to a customer or job you can choose that and if you’re using the class feature you’ll want to choose that.
Now, all we’re going to do here is under the Items, we’re going to pick the screen door. Notice, it pulls in the fact that we have seven on hand. We’re going to put in the fact that we really have eight in the backroom and it knows the difference is one and it will adjust it.
Now, I want you to notice at the bottom it has a total value of the adjustment as well and also the number of items that it is set up as adjustments.
Over on the left, you can set a memo and that’s really all you have to do. I’m going to click Save & Close at the bottom and I want you to notice now. If I go look at those screen doors that I should actually have eight of them. Here are the screen doors and there’s eight. And that’s all you have to do to manually adjust your inventory.
Well, that’s going to wrap up module six. You should know all about how to set up your items now. We need to move on to another topic. We’re going to move to module seven and talk about the banking activities in QuickBooks.
Cindy McGuckin
Cindy McGuckin is an IT trainer with over 20 years of experience. Cindy currently manages the IT Training Department at Trident Technical College, she's a Member of the Association of IT Professionals, Charleston, SC chapter and the Treasurer of the South Carolina Association of Continuing Higher Education.Cindy is a Microsoft Office and QuickBooks expert and her online courses have received hundreds of 5-star reviews. Her no-nonsense approach to teaching complicated topics makes her classes engaging and interesting.
