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Hello, @userwongjk28.
Let's edit your Starting Value by going to the Product and Service page to adjust the quantity. Once adjusted, there's an automatic Journal Entry (JE) created corresponding to that transactions.
Let me guide you how:
- Go to the Sales tab on the left side.
- Click the Product and Services button, then find the product name.
- Hit Edit, then tap Starting Value under Quantity on hand.
- Click Continue.
5. Enter your Initial quantity on hand and As of date.
- Example: 1,950 (goods have on hand) + 50 (goods that were on delivery and arrived) = 2000 pcs.
6. Make sure to select your equity account in the Inventory adjustment account drop-down.
7. Hit Save and close.
After that, go to the search icon, then find the Inventory Starting Value in the Advanced Search. Next is, hit the Transaction journal at the bottom part.
After saving the inventory adjustment, it automatically records appropriate adjustments to your stock Asset and Cost of Goods Sold in the stock Shrinkage accounts. For more information about the process, check out this article: Adjust inventory quantity on hand in QuickBooks Online.
Also, JE won't affect the inventory balances in QBO. That's why you don't allow you to create one.
I've attached articles that can help you manage your products in QBO, like notify if your products are out of stock, resolve negative inventory amounts, and may more.
- Fix negative inventory issues in QuickBooks Online
- Get alerts for low or out of stock products
- Change product and service item types in QuickBooks Online
- Edit an inventory quantity adjustment
Let me know if you have other questions. I'm always here to help. Take care!
