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Best answer April 11, 2019
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Hi there, Rodney2!
It depends on the adjustment account you choose. Since this is an increase on the quantity, this should also increase the value of your inventory asset account in the Balance Sheet.
The account you will use for this adjustment should be Opening Balance Equity. If you notice when you create an inventory item, and you put a quantity on hand, the inventory value will automatically post to your opening balance equity account. At the same time, the amount of inventory asset account increases.
Thus, you'll want to edit your stock adjustment and select the mentioned account as shown in the screenshot.
After this, you can run your Balance Sheet report.
Please go back to this thread if you have other questions. Thanks!
Hi there, Rodney2!
It depends on the adjustment account you choose. Since this is an increase on the quantity, this should also increase the value of your inventory asset account in the Balance Sheet.
The account you will use for this adjustment should be Opening Balance Equity. If you notice when you create an inventory item, and you put a quantity on hand, the inventory value will automatically post to your opening balance equity account. At the same time, the amount of inventory asset account increases.
Thus, you'll want to edit your stock adjustment and select the mentioned account as shown in the screenshot.
After this, you can run your Balance Sheet report.
Please go back to this thread if you have other questions. Thanks!
