Inventory Balance Adjustmentsadmin
- Clickentry allows you to apply the inventory adjustment to increase or decrease the quantity you have for a tracked inventory item. It is also used for revaluing the item.
- It is highly recommended to consult with your accountant before making an adjustment.
- You must have the user role of either Adviser or Standard User to access inventory items.
About Inventory Adjustments
If you have to rearrange the quantity, the average cost or the total value of the tracked inventory item then you can make an adjustment. There might be some reasons for entering an adjustment for example if you have to write off an item (Damaged goods) or there may be some instances where you can not make a normal sale or purchase transactions then you have to enter the adjustment.
Clickentry has two types of adjustments you can make:
- Increase Quantity: While entering an adjustment you can increase the current quantity on hand of the item, and can also adjust its total value using either the current average cost or the cost price you have entered in the adjustment.
- Decrease Quantity: In Clickententry you can decrease the current quantity on hand of the item, and can also adjust its total value using the current average cost.
If you want to make changes in other details for an item like the purchase or sale price, you can edit the item(Link) instead.
Some Things to be Aware of:
- Clickentry doesn’t allow you to adjust an inventory item so that its quantity or value gets below zero.
- The entered date will be treated as the journal date, ie the date the adjustment will be included in reports. Clickentry updates the item quantity and values immediately that’s why you can enter transactions using the updated quantity and value as soon as the adjustment is entered.