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Adjust inventory quantity on hand in QuickBooks Online

by Intuit•30• Updated about 16 hours 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 and QuickBooks Online Advanced, 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 or + Create.
  2. Select Inventory qty adjustment.
    Note: If you want to adjust multiple item quantities, select Adjust quantity in Products and services.
  3. Enter the Adjustment date.
  4. In the Inventory adjustment account â–Ľ dropdown, select the appropriate account.
  5. Enter the applicable fields, if any.
  6. Select the item from the Product/Variant â–Ľ dropdown that you need to adjust.
    Note: The Description and current Qty on hand auto-populate.
  7. For each item, enter either a New qty or a Change in qty.
  8. In the Memo field, enter the details about the adjustment.
  9. 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, then Advanced transactions search.
  2. From the Transaction type â–Ľ dropdown, select Inventory quantity adjustment.
  3. Select the appropriate filters and account from the Filters.
  4. Select Apply, 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.
    • 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.
    • To add new adjustments: 
      1. Enter the details in the New adjustments section.
    • 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.