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Quickbooks – Adjusting Inventory when Receiving Stock

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Quickbooks – Adjusting Inventory when Receiving Stock

Quickbooks – Adjusting Inventory when Receiving Stock

Client called – When I receive stock, to add to existing inventory, what is the best way to update the on-hand count – do I click on item from inventory list, click edit, then change the on-hand amount? Or do I always do a purchase?
Answer – never change the on-hand quantity in the item record.
When you receive new stock, you enter via Purchasing > Receive Items.
If you need to adjust your existing on-hand quantities, use either Inventory > New Quantity Adjustment or Inventory > Start Physical Inventory. You can print a physical stock worksheet from the second way.
If you haven’t been receiving your stock with purchasing, it is likely you need to adjust your average cost. You can do that at Inventory > New Cost Adjustment.
Got questions? Comments? Join the conversation, or call us direct in Australia 0407 361 596

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Author: accountkeepingplus

Administration, bookkeeping and compliance for small business, Training, trouble-shooting, or we can do the books and payroll for you! Self Managed Superannuation Fund Service Provider, free support MYOB Certified Consultant, Reckon/QuickBooks Professional Partner.

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