How To Adjust Inventory In Quickbooks

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HOW TO ADJUST INVENTORY IN QUICKBOOKS
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If your business involves any type of inventory,
whether a enormous amount or presently a few
items, the inventory needs to be tracked. You can
use QuickBooks for accumulate inventory
information and also for regulating inventory
counts and standards based on the current market.
You most likely count your inventory on an
ordinary basis and any changes should be proof in
your financial records. You don't want to pay
taxes on inventory that you don't have
therefore, you should always take an ordinary
count and adjust your records as required. It is
a very simple process to make these adjustments
with QuickBooks.
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STEP-1 Select "Lists" or "Vendors."
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STEP-2 Select "Items" under Lists or "Inventory
Activities" under Vendors.
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STEP-3 Select "Adjust Quantity/Value on Hand" in
the drop-down list under either Lists or Vendors.
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STEP-4 Enter the date that you made your
physical count of your inventory.
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STEP-5 Select an expense account (an inventory
item) from the adjustment list you opened up. 
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STEP-6 Identify the customer job and class, if
applicable, from the drop-down list.  
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STEP-7 Type in the new physical count in the
column named "New Qty" or enter a new value in
the "Qty Difference" column and QuickBooks will
calculate the adjusted quantity for you. 
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STEP-8 Check the box named "Value Adjustment" if
you want to see an expanded version of the open
window however, this is not necessary to change
or adjust your inventory. 
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STEP-9 Enter the new count in the "New Qty"
column if using the expanded method for value
adjustments. 
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STEP-10 Use the "Memo" text box to write a short
description or note to describe what you've done,
who was involved in counting inventory or other
notes, if necessary.
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STEP-11 Click the button marked "Save Close"
or "Save New" to record your revisions.
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