Adjusting Item Quantities and Costs

You use the I/C Adjustments screen to:

• Update the quantity on hand at a location to agree with your physical inventory count.
• Return goods to a vendor after you have completed the receipt.
• Remove additional cost remaining on a receipt when you return the total quantity received for an item at a location to the vendor.

To adjust item quantities and costs:

1. Open Inventory Control > I/C Transactions > Adjustments.

2. Accept "***NEW***" as displayed in the Adjustment Number field to start a new assembly.

   Tip: If "***NEW***" does not appear, click the Create New button.

   The program automatically assigns a document number when you save or post the transaction.

   Alternatively, you can enter a new transaction number yourself, and then press .

3. Use the Adjustment Date field to specify the date for the adjustment.

   The session date is displayed by default, but you can change it.

   You can also enter a separate posting date, which determines the fiscal year and period to which a transaction is posted in the general ledger.

   You can change the document date and the posting date, but you cannot directly change the fiscal period.

4. In the Posting Date field, enter the date to which to post the transaction in the general ledger.
5. Enter an optional description and reference for the adjustment.
6. Click the Add/Edit link beside the Optional Fields check box to add optional field information for this adjustment.

7. Add the detail lines, specifying the item number, adjustment type, and location for each, then:

   • If the item uses the FIFO or LIFO costing method, specify the bucket type, receipt number, and cost date. More...

     Select a bucket type from the list to specify the way in which the program is to process the adjustment. Inventory Control automatically displays Offset Bucket.

   • If the adjustment type is Quantity Increase, Quantity Decrease, Both Increase, or Both Decrease, specify the quantity and unit of measure.
   • If the adjustment type is Cost Increase, Cost Decrease, Both Increase, or Both Decrease, specify the cost adjustment and adjustment/write-off general ledger account.
   • Enter any comments you want to keep with the detail.
   • Use the Optional Fields column (or check box) to add optional field information for this adjustment detail.
8. When you are finished, click Post or Save.
   • If you click Save, the transaction is saved so you can edit and post it later.
   • If you click Post, the transaction is posted immediately.

     Important! When you click Post, if the Prompt to Delete During Posting option is selected (on the Processing tab of the I/C Options screen), the program asks you if you want to delete the transaction. Click No unless your company always deletes posted transactions. If you delete the posted transaction, you will not be able to drill down to the transaction details from General Ledger.