Adjusting Inventory Quantities in QuickBooks

Adjusting inventory quantities in QuickBooks is essential to maintain accurate records of your stock levels, especially when there are discrepancies due to theft, damage, spoilage, or other factors. Here’s how you can adjust inventory quantities in both QuickBooks Online and QuickBooks Desktop:

QuickBooks Online:

1. Log in to QuickBooks Online: Log in to your QuickBooks Online account using your credentials.
2. Access the Inventory Adjustment:
   • Go to the “Sales” or “Purchases” tab on the left-hand side.
   • Select “Inventory Quantity Adjustment.”
3. Create a New Adjustment:
   • Click the “New Adjustment” button.
4. Enter Adjustment Details:
   • Select the adjustment date.
   • Choose the product you want to adjust from the “Product” dropdown menu.
   • Enter the adjustment type:
     • “Quantity Increase” if you are adding items to your inventory.
     • “Quantity Decrease” if you are removing items from your inventory.
   • Specify the quantity adjusted.
   • Add any necessary notes or explanations in the “Description” field.
5. Save the Adjustment: Click the “Save and close” button to save the inventory quantity adjustment.

QuickBooks Desktop:

1. Open QuickBooks Desktop: Launch QuickBooks Desktop and open your company file.
2. Access the Inventory Adjustment:
   • Go to the “Vendors” menu.
   • Select “Inventory Activities.”
   • Choose “Adjust Quantity/Value on Hand.”
3. Create a New Adjustment:
   • Click the “Adjust Quantity” button.
4. Enter Adjustment Details:
   • Select the adjustment date.
   • Choose the product you want to adjust from the “Item Name” dropdown menu.
   • Enter the adjustment type:
     • “Quantity Increase” if you are adding items to your inventory.
     • “Quantity Decrease” if you are removing items from your inventory.
   • Specify the quantity adjusted.
   • Add any necessary notes or explanations in the “Memo” field.
5. Save the Adjustment:
   • Click the “Save & Close” button to save the inventory quantity adjustment.

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After creating an inventory quantity adjustment, QuickBooks will update your inventory records to reflect the changes. These adjustments are crucial for accurate financial reporting and maintaining the integrity of your inventory records. Make sure to keep supporting documentation for your adjustments in case of audits or reconciliation needs.