Fields in the Inventory Adjustments window

Fields in this window

Inventory Adjustments window

Inventory Journal Number

Enter the journal number you want to assign to this transaction, or accept the default journal number. This number will be recorded in the Inventory Journal.

We recommend that you use the default journal number, because it ensures that you don’t use duplicate journal numbers, which may cause confusion in your recordkeeping. If you want to assign a different number, consider leaving the IJ prefix assigned to the number, so it’s easy for you to distinguish the transaction as an inventoried transaction.

Date

Enter the date of the inventory adjustment in this field.

Memo

Enter a description of the inventory transaction. This description will appear on various AccountEdge reports, as well as the Inventory Journal.

We suggest you use this field to indicate the quantity information for this transaction. When you record this transaction, only the value of the inventory items affected will be recorded in the Inventory Journal, not the actual quantities. If you enter the quantity by which an item is increased or decreased in this field, you can view the quantity changes in the Inventory Journal. For example, if you reduce flanges by 12 units, you may want to enter "-12 flanges" in this field; this description will then appear in the Inventory Journal.

Item Number column

Enter the item number of the inventoried item whose quantity you want to adjust.

Only inventoried items -- items for which you selected I Inventory This Item in the Item Information window -- can be entered in this window.

Name column

This field displays the name of the item you entered in the Item Number field.

Quantity column

Enter the quantity by which the selected item should be increased or decreased. To increase the quantity of an item, enter a positive number; to decrease the quantity of an item, enter a negative number by entering a hyphen before the amount.

Enter the quantity in individual units of measure, not buying units of measure or selling units of measure. For example, if you want to increase your soda quantity by one case of cans (24 cans), enter 24 in this field.

You can’t decrease the quantity of inventoried items to less than zero units.

Unit Cost column

Enter the value of each item added to or subtracted from inventory, or accept the default, which is the average cost of the item -- the total cost of the item’s quantities divided by the number of units on hand.

Amount column

Enter the total value of all the items added to or subtracted from inventory, or accept the default, which is the amount entered in the Quantity field multiplied by the amount entered in the Unit Cost field. If you enter an amount other than the default amount, the Unit Cost field will change to reflect the new amount.

If the amount that appears in this field is a positive number, the total value of your inventory is increased and the appropriate asset account (assigned to the item in the Asset Account for Item Inventory field in the Item Information window) is increased.

If the amount that appears in this field is a negative number, the total value of your inventory is decreased and the appropriate asset account (assigned to the item in the Asset Account for Item Inventory field in the Item Information window) is decreased.

Account column

Enter the account to which you wish to allocate this item’s change in quantity.

This account, known as an allocation account, is used to balance this transaction, and can often be used as an explanation of why the inventory adjustment occurred. A typical allocation account is a Shrinkage account, which explains that an item’s quantities were reduced due to shrinkage of some sort.

If the number that appears in the Amount field is a positive number, the total value of your inventory is increased and the appropriate asset account (assigned to the item in the Asset Account for Item Inventory field in the Item Information window) is increased. The account you enter here will then be decreased.

If the number that appears in the Amount field is a negative number, the total value of your inventory is decreased and the appropriate asset account (assigned to the item in the Asset Account for Item Inventory field in the Item Information window) is decreased. The account you enter here will then be increased.

Job column

If the inventory adjustment is associated with a job, enter the job number or click the search icon to display a search list of jobs to select.

Journal button

Click this button to display the Inventory view of the Transaction Journal window.

Record button

Click this button to record the inventory adjustment you’ve entered and close the window.

Cancel button

Click this button to clear the entries you made and close the window.

*Inventory Journal Number*	Enter the journal number you want to assign to this transaction, or accept the default journal number. This number will be recorded in the Inventory Journal. We recommend that you use the default journal number, because it ensures that you don’t use duplicate journal numbers, which may cause confusion in your recordkeeping. If you want to assign a different number, consider leaving the IJ prefix assigned to the number, so it’s easy for you to distinguish the transaction as an inventoried transaction.
*Date*	Enter the date of the inventory adjustment in this field.
*Memo*	Enter a description of the inventory transaction. This description will appear on various AccountEdge reports, as well as the Inventory Journal. We suggest you use this field to indicate the quantity information for this transaction. When you record this transaction, only the value of the inventory items affected will be recorded in the Inventory Journal, not the actual quantities. If you enter the quantity by which an item is increased or decreased in this field, you can view the quantity changes in the Inventory Journal. For example, if you reduce flanges by 12 units, you may want to enter "-12 flanges" in this field; this description will then appear in the Inventory Journal.
*Item Number column*	Enter the item number of the inventoried item whose quantity you want to adjust. Only inventoried items -- items for which you selected I Inventory This Item in the Item Information window -- can be entered in this window.
*Name column*	This field displays the name of the item you entered in the Item Number field.
*Quantity column*	Enter the quantity by which the selected item should be increased or decreased. To increase the quantity of an item, enter a positive number; to decrease the quantity of an item, enter a negative number by entering a hyphen before the amount. Enter the quantity in individual units of measure, not buying units of measure or selling units of measure. For example, if you want to increase your soda quantity by one case of cans (24 cans), enter 24 in this field. You can’t decrease the quantity of inventoried items to less than zero units.
*Unit Cost column*	Enter the value of each item added to or subtracted from inventory, or accept the default, which is the average cost of the item -- the total cost of the item’s quantities divided by the number of units on hand.
*Amount column*	Enter the total value of all the items added to or subtracted from inventory, or accept the default, which is the amount entered in the Quantity field multiplied by the amount entered in the Unit Cost field. If you enter an amount other than the default amount, the Unit Cost field will change to reflect the new amount. If the amount that appears in this field is a positive number, the total value of your inventory is increased and the appropriate asset account (assigned to the item in the Asset Account for Item Inventory field in the Item Information window) is increased. If the amount that appears in this field is a negative number, the total value of your inventory is decreased and the appropriate asset account (assigned to the item in the Asset Account for Item Inventory field in the Item Information window) is decreased.
*Account column*	Enter the account to which you wish to allocate this item’s change in quantity. This account, known as an allocation account, is used to balance this transaction, and can often be used as an explanation of why the inventory adjustment occurred. A typical allocation account is a Shrinkage account, which explains that an item’s quantities were reduced due to shrinkage of some sort. If the number that appears in the Amount field is a positive number, the total value of your inventory is increased and the appropriate asset account (assigned to the item in the Asset Account for Item Inventory field in the Item Information window) is increased. The account you enter here will then be decreased. If the number that appears in the Amount field is a negative number, the total value of your inventory is decreased and the appropriate asset account (assigned to the item in the Asset Account for Item Inventory field in the Item Information window) is decreased. The account you enter here will then be increased.
*Job column*	If the inventory adjustment is associated with a job, enter the job number or click the search icon to display a search list of jobs to select.
*Journal button*	Click this button to display the Inventory view of the Transaction Journal window.
*Record button*	Click this button to record the inventory adjustment you’ve entered and close the window.
*Cancel button*	Click this button to clear the entries you made and close the window.