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Overview
The Inventory Adjustment Wizard allows an authorized user to make adjustments to Inventory in terms of both quantity and cost. Additionally, the overall average cost of an Item may be adjusted utilizing this tool. Use Case(s) When an Item is incorrectly received into Inventory, the Inventory Adjustment Wizard may be used to adjust/correct the Inventory quantities and costs to actual. |
Video
This video contains highlights from a training Webinar given on Inventory Adjustments & Corrections.
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Content
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Accessing the Tool
To access the Inventory Adjustment Wizard
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A. To review for unposted batches, within Items, click on the Approve Inventory Adjustment Batch. Set Posted filter to Unchecked to return all unposted batches. Contact Accounting to Post batches.
Q. What if I can’t access Approve Inventory Adjustment Batch?
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A. The Override Average Cost feature is to be used only when resetting the Item’s overall average cost, impacting all units of the Item. If an adjustment is being made to a subset of the total quantity of the Item (for instance 2 units when a total of 10 are on hand), the cost should be adjusted on screen 2 of the Inventory Wizard, and the Override Average Cost button should not be selected.
Downloadable Guide
Inventory Adjustment Wizard - Guide