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HOW TO ADJUST INVENTORY IN QUICKBOOKS

In this presentation we try to describe that how to adjust inventory in quickbooks. Through this presentation you can easily adjust the inventory in quickbooks.We describe each step with help of images through this you can easily understand the presentation.

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HOW TO ADJUST INVENTORY IN QUICKBOOKS

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  1. HOW TO ADJUST INVENTORY IN QUICKBOOKS

  2. 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.

  3. STEP-1Select "Lists" or "Vendors."

  4. STEP-2Select "Items" under Lists or "Inventory Activities" under Vendors.

  5. STEP-3Select "Adjust Quantity/Value on Hand" in the drop-down list under either Lists or Vendors.

  6. STEP-4Enter the date that you made your physical count of your inventory.

  7. STEP-5Select an expense account (an inventory item) from the adjustment list you opened up. 

  8. STEP-6 Identify the customer job and class, if applicable, from the drop-down list.

  9. STEP-7Type 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.

  10. STEP-8Check 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.

  11. STEP-9Enter the new count in the "New Qty" column if using the expanded method for value adjustments.

  12. STEP-10Use 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.

  13. STEP-11Click the button marked "Save & Close" or "Save & New" to record your revisions.

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