OVERCOUNTED INVENTORY - WANT TO ADJUST WITHOUT CREATING A JOURNAL ENTRY
I miscounted some inventory items. How do I adjust without creating a journal entry? It was a simple over counting so I don't want any entry in the journal, etc.
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07/22/09 6:49pm PDT
Viewed by asker 07/30/09 5:10pm PDT
Viewed by asker 07/30/09 5:10pm PDT
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jheerman
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07/23/09 6:47am PDT
The software is going to create a journal entry whenever a change is made unless you restore a backup from before the inventory count was entered. However you will lose all transactions made since then. I would adjust and in the memo section say "Adjustment due to counting error".
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07/23/09 6:52am PDT
even if I put a note stating counting error, won't this effect my bottom line?
jheerman
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07/23/09 7:14am PDT
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The solution
No, as you increased it by error and now you are correcting the increase. It should be a wash.
