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moosa-k
Level 1

Hello dears in quickbooks, in the report of last quarter, the inventory shrinkage shows in minus, any idea why is that?

 
4 Comments 4
Candice C
QuickBooks Team

Hello dears in quickbooks, in the report of last quarter, the inventory shrinkage shows in minus, any idea why is that?

Hello, @moosa-k

 

Inventory Shrinkage is the excess amount of inventory listed in the accounting records, but which no longer exists in the actual inventory. The Inventory Shrinkage account is created automatically once you adjust the quantity on hand in your inventory product. QuickBooks uses this account to record all the changes or adjustments. To give you the best answer to your question, what type of report are you running? You can look further into why it's showing a negative by following these steps. 

  1. Go to the Accounting tab. 
  2. Select the Chart of Accounts section. 
  3. Locate the Inventory Shrinkage account. 
  4. Click Run Report in blue writing under the "Action" column. 

This will allow you to see all the transactions that are posted to the Inventory Shrinkage account. 

 

Let me know if this helps. I value you and the success of your business. I'll be waiting for your response. 

moosa-k
Level 1

Hello dears in quickbooks, in the report of last quarter, the inventory shrinkage shows in minus, any idea why is that?

hello dear, thank you very much for your valuable answer. it helped me a lot.

godsgiftltd20181
Level 1

Hello dears in quickbooks, in the report of last quarter, the inventory shrinkage shows in minus, any idea why is that?

great information, i would like to know if there are other ways of doing inventory adjustment  without it been posted to inventory shrinkage account.

thanks.

RCV
QuickBooks Team
QuickBooks Team

Hello dears in quickbooks, in the report of last quarter, the inventory shrinkage shows in minus, any idea why is that?

Welcome to the QuickBooks Community space, godsgiftltd20181.

 

The option to do inventory adjustment without posting it to the inventory Shrinkage account is unavailable. QuickBooks Online (QBO) automatically records appropriate adjustments to your stock Asset and Cost of Goods Sold (under stock Shrinkage) accounts.

 

For more details about inventory adjustment, check out this article: Adjust inventory quantity on hand in QuickBooks Online

 

I've got a link here where you can find articles about managing your inventory: https://quickbooks.intuit.com/learn-support/en-us/inventory/07?product=QuickBooks%20Online.

 

Keep me posted if you need a hand with running inventory reports or ay QBO related. I'll be here to ensure your success. Take care always. 

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