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November 21, 2019
Question

Returning Inventory Assembly components to Stock

  • November 21, 2019
  • 4 replies
  • 28 views

Many of our products are set up as inventory assemblies and we use the build assembly process to control inventory an d process the items. Often times when we sell and item months later we may get a product back from a customer in exchange for another product. We would like to return all the components of the inventory assembly to stock instead of the top level item. I understand that we can do this by "deleting the original build" but when its months later its not an option as our books for that month are closed. We also do not allow for negative inventory so the invoice that the original build was tied to would cause an issue. 

 

Is there another way without deleting a build to return all the components to stock without making it a manual process?

 

Thanks! 

4 replies

IamjuViel
Level 8
November 21, 2019

Hello, @William Cummings.

 

You can create an inventory adjustment to return all the components to stock. This kind of adjustment won’t affect the quantities or value of your product's components.

 

Here's how:

  1. Decide what kind of adjustment you need.
  2. Set up your inventory adjustment account.
  3.  Adjust your inventory.
  4. Make sure your inventory status is now correct.

Just a heads-up, this may affect your previous month's reconciliation, especially for your inventory asset account. You can read through this article for more detailed steps: Adjust your inventory quantity or value in QuickBooks Desktop.

 

To learn more about managing your inventory in QuickBooks, you can check these articles:

Let me know if you have other questions. I'm always here to help.

Rustler
Level 15
November 21, 2019

No there is not

 

 the problem with this scenario is cost, specifically average cost for the assembly and each components average cost too.

 

one way to do it, return the assembly to stock when you get it back

then use inventory adjust, set the adjusting account to a clearing expense account,

 

lower the qty of the assembly item - that puts the assembly item average cost in the expense account, it is shown on the bottom right of the assembly screen too, write it down and save

 

use inventory adjust again, set the adjusting account to the same clearing expense account, set he adjustment type to qty

for each component item, increase the qty as appropriate

 

when finished, check the clearing expense account it should be zero, if not journal the pennies to COGS, debit COGS, credit the clearing account

 

 

November 21, 2019

Thank you both for your help. 

Currently the assembly goes back into stock via a credit memo for the customer that has returned the item. Sometimes we keep it in stock and sometimes we re-stock the components if the top level is a smaller volume sale. What we have been dong is adjusting the Assembly item out then all the components back in. As you can imagine this is tedious when you have 30 items in a BOM and you have multiple items to work on.