Creating an Inventory Adjustment
Process
Inventory Adjustments (IA) are used when the quantities of a given commodity or unit cost of a stock item need to be adjusted for accuracy. An Inventory Adjustment (IA) transaction is used if Inventory quantities do not match the physical count, an adjustment to cost is needed, Inventory is damaged and no longer considered in stock, or, Inventory has been sent back to the vendor due to recalls.
When creating an Inventory Adjustment transaction, it will be required that all documents are selected for auto numbering. To create an Inventory Adjustment (IA) transaction, follow the steps below:
1. Enter IA in the Jump to field.
2. Select Create
3. Create Transaction
Enter Dept in the Dept field
Check mark the the auto numbering field
Select Continue
4. Under the Header section, on the General Information tab, enter the Transaction Name, Record Date, Transaction Description, and Warehouse.
5. Click Commodity from the Transaction Navigator
General Information tab, select Insert New Line
Insert new line by Selecting the + sign
Enter Stock Item, Stock Item Suffix (if used)
6. Click Adjustment Information tab.
Enter Change in Quantity, or Change in Unit Cost, and Adjustment Code.
Note: Changes in Quantity and Changes in Unit Cost can’t be entered on the same line. If you need to adjust both quantity and cost on one stock item, enter Change in Quantity on line 1, then enter Change in Unit Cost on line 2.
7. Select Save
8. Select Validate and Submit
