Item Adjustment

Item Adjustments are used to record changes to the quantity and or dollar balance of items stocked in inventory that result from damage, theft or shrinkage other than standard sales or purchases.  ObjAcct automatically reduces inventory quantities and value when you sell products and increases inventory quantities and value when your receive items into inventory.

The inventory quantity on hand is adjusted by Qty entered on the item adjustment transaction.  Qty may be positive or negative.  The dollar value of the item is adjusted by the positive or negative Amount field on the item adjustment transactions.

If a dollar value adjustment is made to an item, journal transactions are generated to update the appropriate inventory and adjustment account for each item adjustment transaction line.   One General Ledger journal entry is generated for each item adjustment document.

Start by filling in the item adjustment header section.  The required field is Adjustment Date.  Next fill out the item adjustment transaction section.  You can enter as many transaction details as you need.  When you have entered all the transactions for the item adjustment, click on the Save button in the toolbar to save the adjustments to the database. 

To see a list of all existing item adjustments, click on the Find button in the toolbar.

See also Item Adjustments screen.

Fields

Adjustment Date

Batch Nbr

Description

Enter Date

Hold

Job

Reference Nbr

Item Adjustment Transactions

Item Adjustment Footer