I am having a problem adjusting my inventory. Can someone tell me how to adjust it?
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Is it for one item? Are you going through item maintenance?
Could you elaborate more, Is it regarding "Adjustment Documents" , or Variances when performing a stock count ?
We do not typically keep the inventory but I was needing to adjust it so as the report matches what we send to the bank.
You mean you want to adjust the quantities on hand so your stock status report total equals your general ledger total, which you report to the bank as one of the covenants of a loan or some other types of financing?
Yes, sir.
inventory versus GL varies for several reasons, you might have posted IV transaction without posting to GL or posted a journal entry affecting inventory account directly with no original IV document. In addition, cost adjustment is one of the moat essential reasons.
If your GP version is 2013, then the inventory reconcile utility is the solution
Otherwise, you could check my blog as I have provided a script that match inventory versus GL per account per module
Thank you for all of your help. I will check out your blog. I am new to GP and have had no formal training. Learning as I go.
please never hesitate to share your concerns and questions.
Has a physical inventory been done at you company? Your comments suggest you don't really track inventory. The correct way to handle this is to conduct a physical inventory, value it, then determine what the difference is between your stock on hand and your GL. Then, normally you would adjust the GL balance to reflect the value of stock on hand. It sounds like you want to do the reverse - adjust your inventory quantities to match your GL balance. Is that correct?
Frank,
You are correct. I just recently was hired and the gentleman that was here before me had been here for 12 years. There are a lot of things that haven't been done correctly. I am new to GP, so I am learning as we go. At some point, I hope to have everything done correctly.
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