Setting "inventory adjustment account" quickbooks

I highly appreciate the details you've included in your post and the screenshot you've provided, @Akervin. I've got a way to help you change all the items in bulk. No worries, let's work together to achieve this.

In QuickBooks Online (QBO), we can utilize the Advanced Search feature to streamline the process of adjusting your inventory quantities. This way, you can quickly identify the items that need adjustments. This feature allows you to search and filter through your inventory items efficiently.

1. Look for the Search tab, then click Advanced search.
2. From the All Transactions dropdown, select Inventory Quantity Adjustment.
3. In the Inventory adjustment account dropdown, select the appropriate account.
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.

To edit previous adjustments:

• Change the Adjustment date and the Inventory adjustment account if necessary.
• Edit the details in the Previous adjustments section.
  
  

To add new adjustments: 

• Enter the details in the New adjustments section.

To delete: 

• Select Delete.
• (Optional) Enter a note explaining why you edited the adjustment in the Memo field.
• Once done, select Save and close.

For visual reference, I've added a screenshot below:

By doing this, you can optimize your workflow, making the task of updating inventory levels more manageable and less time-consuming.

In addition, I'll be dropping this helpful article for you to learn how to check your inventory so you can always have an accurate inventory count: Fix negative inventory issues in QuickBooks Online.

Should you need further assistance or have additional queries about your inventory adjustment, please don't hesitate to reach out, @Akervin. I want to ensure that everything is taken care of just for you.

@Sherrie_F  Okay, from the top.

@Akervin  said "I have since learned that all 1617 inventory items are being adjusted to this paid in capital account because the subaccount matched the preferences set by QBO (see screenshot)." and "How do I correct this to have all 1617 items point to the right account without taking a week vacation to do ever single item individually."

You, @Sherrie_F , replied, in part "This feature allows you to search and filter through your inventory items efficiently. This way, you can quickly identify the items that need adjustments without having to manually search through your entire inventory list."

Do you see why your solution doesn't really accomplish anything?

It's okay, take as long as you need.

@Akervin 

I'm not sure if this is answering your question but try going to Settings > Products and services.  Click the filter (funnel) icon and under 'Type' select Inventory.  Then click the 'Batch actions' drop-down and select 'Adjust quantity'.  That will allow you to adjust all 1,617 items on one screen using the same inventory adjustment account.  You can try other filters as needed to make it more manageable.     

Sherrie, 

Thanks for the reply but this does not solve my problem, or even begin to touch it. I have to change the Starting inventory of EVERY ITEM. This shows me past inventory adjustments but does not allow me to adjust them all at once, I still have to click each one individually. Nor does it solve the problem of the default inventory adjustment account defaulting to whatever the hell it wants to because QBO doesn't allow me to set that in the inventory settings.

I DO NOT CREATE INVENTORY in QBO. It is done in my practice management software and when it pushes those items over to be created in the system, QBO takes it upon itself to shove them wherever it dam well pleases and I don't know how to fix it other than look for a different bookkeeping solution. 

I'm here to help you sort this out, @Akervin. I assure you that your concerns will be addressed appropriately.

This way, you can point the 1,617 inventory items into the right account all at once in just 10 clicks without any hassle.

Here's how:

1. Go to Sales in the left corner of the website.
2. Choose Products and Services.
3. Select the filter icon, then click the dropdown icon beside Type.

       4. Choose inventory.

       5. Tick the box beside name to check all the inventory items.

       6. Click batch actions, then adjust quantity.

       7. Hit the dropdown arrow under Inventory Adjustment Account, then choose what's your preferred account. 

       8. Once, done click Save and Close.

By utilizing this technique, you can improve your workflow, ensuring that the task of updating inventory levels becomes more straightforward and less time-consuming.

If you desire to edit or delete an inventory quantity adjustment you can always access this article to learn more: Adjust inventory quantity on hand in QuickBooks Online.

Furthermore, I will provide you with this informative article for future use, which will guide you on how to audit your inventory effectively, ensuring you maintain an accurate count at all times: Fix negative inventory issues in QuickBooks Online.

If you require additional support or have further inquiries regarding your inventory items and adjustment, please feel free to respond. I am dedicated to ensuring that all your needs are precisely catered to.

Thank you for the reply and attempt to solve the problem. This still does not fix my issue that I have with all my starting inventory going to the wrong account. If my starting inventory goes to account A and I'm adjusting my inventory in account B then now I have 2 accounts that aren't balanced.

The solution to the problem is allowing users to define their default inventory starting account. Until that happens my issue will not be resolved. 

I see how much time can be saved by transferring all inventory items at once instead of addressing each item separately, Akervin. I’m here to offer insights that will enhance your experience.

At this moment, the option to change inventory adjustment accounts in batches is unavailable in QuickBooks Online (QBO). However, I encourage you to share your thoughts and recommendations with our Product Development Team, as your insights are vital for our ongoing development.

Here's how:

1. Go to the Gear icon, then choose Feedback.

2. Enter your comments or product suggestions.

3. Select Next to submit.

Furthermore, this resource enables you to run a variety of reports that will allow you to assess the products and services you buy and sell, as well as keep an eye on your inventory levels:  Use reports to see your sales and inventory status in QuickBooks Online.

Your feedback is vital, and we are here to assist you in maximizing your QuickBooks experience and ensuring that QBO meets the unique needs of your business and enhances your operational efficiency. If you have any questions or need additional support, please feel free to reach out.

@Akervin 

"This shows me past inventory adjustments but does not allow me to adjust them all at once, I still have to click each one individually."

Is there a reason you aren't making a batch inventory adjustment?  There's no need to adjust each item individually.  Go to Settings > Products and services.  Click the funnel (filter) and under 'Type', check the Inventory box.  Then (I forgot this step in my last post), click the box to the left of 'Name' to select all items.  When you do that, you will see a 'Batch actions' drop-down appear on the right.  Click 'Adjust quantity' and you can adjust all inventory items at once.         

@LouiseG 

"At this moment, the option to change inventory adjustment accounts in batches is unavailable in QuickBooks Online (QBO)."

Yes, you can make batch inventory adjustments in QBO:

Go to Settings > Products and services. Click the funnel (filter) and under 'Type', check the Inventory box. Then, click the box to the left of 'Name' to select all items. When you do that, you will see a 'Batch actions' drop-down appear on the right. Click 'Adjust quantity' and you can adjust all inventory items at once.