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BenBlack

Contributor

02/09/12 10:19pm PST
Viewed by asker 02/10/12 3:12pm PST

Did the inventory adjustment process change somewhere between QBES 10 and 12?

US QuickBooks Enterprise Solutions : 12.0: Manufacturing and Wholesale

Did the inventory adjustment process change somewhere between QBES 10 and 12?

I always used to input the new qty when adjusting inventory in QBES 10 and prior and the new qty was the new qty period at that point in time. However, it now seems that QBES 12 always uses qty diff even after you have entered new qty. This is a big problem when entering end of month inventory and you don't want the inventory count to change after you do the final count. However, bills can still stream in after the month is past and those bills need to be received, but the inventory count at the end of the month should not change, but it does since QBES 12 is recording all inventory adjustments on the basis of qty difference. Did I bump my head or something? Did QB make a change between QBES 10 and QBES 12? Am I dreaming/ What is going on with this? Thank you.

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Rustler

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02/10/12 3:07am PST

I don't use QBES but in premier the concept has not changed from 06 thru 12

If you perform an adjustment and enter a qty that is different than that which is shown as being on hand, QB will calculate the difference and enter it in the difference column, and when you save the adjustment, the new qty on hand is final

If I've helped, mark it solved.

My QB tips Blog >> http://onsale-apparel.com/Rust...

When the majority, who cannot think for themselves, overwhelm the minority who can, you get ... convention.

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BenBlack

Contributor

02/10/12 9:22am PST

Assuming that the concept is the same in Enterprise, how does one make a FINAL end of month count at the end of the month when bills are still coming in that will affect cogs?

To illustrate, qb tells you at the end of the month that you have 1,000 widgets in stock. You physically count them and determine that you have 200. You make an end of month inventory adjustment such that you now have 200 widgets in inventory and the difference of 800 widgets is applied against cogs. All fine and good. Now, a week in to the new month, you get a bill from your supplier / vendor for 400 widgets that you bought the last week of the prior month. If I understand how qb is behaving, you receive that bill and your inventory for that month now goes up 400 widgets rather than the end of month inventory remaining fixed at 200 widgets and the newly received 400 widgets being applied against cogs. What am I missing? Thank you for your help.

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Rustler

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02/10/12 10:16am PST

Bills do not affect COGS unless you have sold to a negative on hand, and then it is an adjusting entry QB makes

In your example

yes when you adjust EOM inventory you have 200 on hand

yes when you reveive the bill for 400 widgets the inventory goes up

no, buying inventory does not hit COGS unless you have sold to a negative as I said

So on the date of the receive inventory transaction you will have 600 on hand assuming you have not sold any in between

Inventory is an asset, it sits on the books until sold

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BenBlack

Contributor

02/10/12 10:57am PST

My mistake for not clarifying that we are a manufacturer. We buy materials to make stuff. In any case, I now realize that my problem is one of timing whereby we need to enter our receipts in to qb at the same time that we physically receive. It is no good to count one day and then enter bills the following week on materials that have already been physically received. Thank you for your insight and patience on this. You were very helpful.

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Rustler

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02/10/12 11:06am PST