INV: Creating an Adjustment

Use this procedure to enter adjustments for a specified Job. This may be a contracted job or a generic job such as Warehouse or Inventory.

Adjustments are commonly entered after a physical inventory count in order to adjust the Quantity On Hand information to make it equal to the actual quantity in stock. For more information on adjustments after performing a physical inventory, see Performing a Physical Count of Inventory.

To create an adjustment for a specified Job

  1. From the Inventory menu, click Adjustments.
  2. Enter the actual date the adjustment should be made.
  3. Select the Warehouse responsible for the Adjustment. The list contains only the valid warehouses set up in Warehouse Locations screen.
  4. Enter the Job # of the items to adjust.
  5. Click the Asterisk to add a new line to the grid.
  6. Enter the Item Number.
  7. Enter the Quantity to adjust.

Items entered as a negative number are subtracted from the Item Master file. Items entered with a positive number are added to the inventory for the specified item. Changes to items on this screen update the Quantity On Hand and Total Cost On Hand in the Item Master file. You may use decimals.

Example - If the unit of measure for the item is a case and you need to adjust only a half of a case, the Quantity may be entered as -.5 to signify that only half of a case is being adjusted out of inventory.

  1. The Price defaults from the Item Master File. The price displays based upon the Job Cost Method entered on the Item Master File for this item. Normally the Standard Cost is used to calculate the cost. However, the Average Cost can also be used.
  2. If the Quantity is modified, the Extension value is recalculated automatically. Negative adjustments display in parentheses (). The Extension amount can be entered without a Quantity, to reflect a dollar adjustment to the Total Cost On Hand in the Item Master File.
  3. The Extension value is calculated automatically, but may be manually adjusted, if needed.

Note:  If you are making a negative adjustment to the extension amount you must enter a negative number either before or after the new extension amount. Entry of a positive number will blank out the Price field and increase the Total Cost On Hand in the Item Master File.