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Adjust inventory quantity on hand in QuickBooks Online

by Intuit Updated 4 weeks ago

Learn how to adjust inventory quantity in QuickBooks Online.

Sometimes you might discover that you have either more or fewer of an item than QuickBooks shows. If you track inventory in QuickBooks Online Plus, you can manually adjust an item's quantity without recording a purchase or sale, to match what you actually have in stock.

Enter an inventory quantity adjustment

  1. Select + New.
  2. Select Inventory qty adjustment. (Note: If you want to adjust multiple items’ quantities, select Batch actions in Products and services.)
  3. Enter the Adjustment date.
  4. In the Inventory adjustment account dropdown, select the appropriate account. (Note: The description and current quantity on hand auto-populate.)
  5. For each item, enter either a new quantity or a change in quantity.
  6. In the Memo field, enter the details about the adjustment.
  7. Select Save and close.

Note: When you save the inventory adjustment, QuickBooks Online automatically records appropriate adjustments to your Inventory Asset and Cost of Goods Sold (under Inventory Shrinkage) accounts.

Edit or delete an inventory quantity adjustment

Important: Be very careful when editing inventory adjustment entries. This can greatly impact your accounting. If you're not sure if you should do this, reach out to your accountant.

  1. Select Search icon, then Advanced Search.
  2. From the All Transactions dropdown, select Inventory Quantity Adjustment.
  3. Select the appropriate filters and account from the ▼ dropdown.
  4. Select Search, then select the adjustment you want to edit. This opens the inventory quantity adjustment. You can add new adjustments, edit previous adjustments, or delete them.
    1. To edit previous adjustments:
      1. Change the Adjustment date and the Inventory adjustment account if necessary.
      2. Edit the details in the Previous adjustments section.
    2. To add new adjustments: 
      1. Enter the details in the New adjustments section.
    3. To delete: 
      1. Select Delete.
  5. (Optional) Enter a note explaining why you edited the adjustment in the Memo field.
  6. Select Save and close.
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