Setting Up Inventory Adjustment Accounts
Follow the link "Settings > Adjustments" to set up the various Inventory Adjustments that is typical for your business. The system comes with a pre-defined set of "Adjustment Reasons" as shown below.
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If you click on the link for an adjustment, you get the screen shown below. Here you can choose to
- "Delete" an adjustment not applicable to your business
- Select a General Ledger "Account Name" that should be used to account for the inventory adjustment in accounting.
- If an "Expense" account is chosen, the adjustment is assumed to reduce inventory
- If an "Income" account is chosen, the adjustment is assumed to recover and increase inventory
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You can add to these adjustments by clicking the "New Adjustment" button. The fields available are the same as detailed above.
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Updated 20 days ago