Process Adjustments Automatically
Which
form should I use to process adjustments?
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Follow the instructions on this page for the Process Adjustments form to automatically create adjustments that:
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Write off the cost of items with zero quantities.
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Write off the quantities of items with zero cost.
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Adjust the total costs of items with non-zero quantities and zero total cost to a new cost.
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Use the Adjustments form to change item costs and quantities as needed.
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To update the quantity on hand at a location to agree with your physical inventory count.
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To return goods to a vendor after you have completed the receipt.
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To remove additional cost remaining on a receipt when you return the total quantity received for an item at a location to the vendor.
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Use the Post Inventory Reconciliation form to post the counts and costs that you entered in the Physical Inventory Quantities form. The program creates adjustment transactions when you post inventory reconciliations.
Can
I adjust material usage for a project?
If you use Project and Job Costing, material adjustment transactions created by Project and Job Costing will appear in Inventory Control showing adjustments to particular contracts, projects, job categories and overhead accounts.
Note, however, that you cannot adjust materials for jobs from the Inventory Control program.
Before
you start
Usually, you process adjustments after printing the Item Valuation Report and finding that your costs are out of balance with inventory amounts.
In other words, you use this form to automatically fix problems that you have already found.
We suggest that you:
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Print the Item Valuation Report.
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Physically check inventory quantities to make sure that the items will be adjusted properly.
To process adjustments automatically:
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Open Inventory Control > I/C Periodic Processing > Process Adjustments.
Click here for help on Process Adjustments fields.
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Enter the range of item numbers for which you want to create adjustments.
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Enter the range of locations for which you want to create adjustments.
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Choose one of the following types of adjustments:
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Total cost to zero for items with zero quantities
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Total quantity to zero for items with zero total cost
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Total cost for items with non-zero quantities and zero total cost.
If you choose "Total cost for items with non-zero quantities", you must also choose the type of cost to which you want the cost adjusted:
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Standard cost
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Most recent cost (includes the tax)
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Last Unit cost (does not include the tax)
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User defined cost 1
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User defined cost 2
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Click Process.
After
using
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Print the Item Valuation Report and compare it to the report that you printed earlier.
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Print the Adjustment Posting Journal to check the actual posted adjustments.