Use this window to adjust the quantity on hand and the value for items in your inventory. Although QuickBooks automatically adjusts your inventory quantities after every purchase and sale, you may need to adjust them yourself to account for events like fire, theft, or breakage.
The number of items you currently have in stock. QuickBooks automatically keeps track of this number for all the invoice items on your Item list.
Adjustment
Account |
The name of the account where you track adjustments to inventory. For shortages and losses, the account is usually an expense account. If you discover inventory you didn't know you had, you may want to use an income account.
You must enter the name of an account before you can record the adjustment. |
Class | (Optional) The class you want to assign to the adjustment transaction. This field appears only if you have selected the “Use class tracking” preference in the Transaction Preferences window. |
Current Qty | The current quantity on hand for each inventory item. You cannot enter information into this column. |
Current Value | The current value of each inventory item. You cannot enter information into this column.
This column appears only when you select the “Value adjustment” checkbox. |
Customer:Job | Use this field when you sell an inventory item to a customer, but do not include the item on the invoice. For example, you might have entered a single line item to cover the cost of the entire job without listing separate line items for each inventory part you sold. By entering an adjustment here and assigning it to the customer (or job), you ensure that (1) QuickBooks is aware of the change to your inventory, and (2) the inventory item appears as a job-related cost in job profitability reports. |
Date | The date of the adjustment transaction. QuickBooks automatically puts today's date into this field. Shortcuts for dates |
Description | The sales description for each inventory item. You cannot enter information into this column. |
Item | The item codes for each inventory item. You cannot enter information into this column. |
Memo | (Optional) A short phrase that describes the adjustment. The memo appears on reports that include the adjustment. |
New Qty | The new inventory quantities. When you enter a number, QuickBooks automatically displays the quantity difference in the Qty Difference column.
You can enter the quantity difference instead of the total quantity. See “Qty Difference” below. |
New Value | The new values for your inventory stock. Entering a new value changes the average cost of the items in stock.
This column appears only when you select the “Value Adjustment” checkbox. |
Qty Difference | Quantity differences. To enter a difference that reduces the quantity, be sure to type a minus sign before the number (for example,
-25).
You can enter the total quantity instead of the quantity difference. See “New Qty” above. |
Ref No | The number of the adjustment transaction. The number is provided by QuickBooks — but you can change the number if you wish. |
Total Value
of Adjustment |
The value of the adjustment. To calculate the value, QuickBooks multiplies the average cost of the item by the quantity difference. |
Value
Adjustment |
Select this checkbox if you want to change the value of the inventory after you have adjusted the quantity. |