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Inventory - how can we start again?

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Inventory was migrated from an old system but not ratified and the opportunity to ensure items were set up correctly was not taken. 
 
We are coming to the end of a financial year, and would like to start again with a clean inventory. Is this possible? Is our best ioption to set up up new 'locations' ?
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    KasparsSemjonovs Profile Picture
    KasparsSemjonovs 3,926 Super User 2024 Season 2 on at
    Inventory - how can we start again?
    There are two reasonable options:
    1) As ZHU suggested, through physical Inventory create adjustments to quantities. And afterwards with Revaluation Journal You can adjust the value of items. This would need to be done for each Location.
    2) Through Physical Inventory - zero out all Your inventory in all locations (or one by one). And afterwards through Item Journal - import through Configuration package or paste from excel lines for all items in all locations with the correct Unit Cost.
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    YUN ZHU Profile Picture
    YUN ZHU 73,565 Super User 2024 Season 2 on at
    Inventory - how can we start again?
    Hi, even if you create a new Location, the inventory quantity is still saved in the system. So please use the Physical Inventory Journals function or Item Journals to adjust your inventory quantity, and use Item Revaluation Journal to revalue inventory.
    And if you want to start completely new, you can create a new company, and then transfer the master data and settings to the new company, which is of course quite troublesome.
     
    Hope this helps.
    Thanks.
    ZHU

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