Hi, made adjustments to my inventory quantities after we did a manual check. Problem is our expenses went up as we modified the inventory. Why? And hot to fix?

Anonymous · ‎April 10, 2020

vpcontroller · ‎April 10, 2020

"Hi, made adjustments to my inventory quantities after we did a manual check. Problem is our expenses went up as we modified the inventory. Why? And hot to fix?"

@Anonymous

You may want to review this article and follow the steps.

Set up and track your inventory in QuickBooks Online

https://quickbooks.intuit.com/learn-support/en-us/set-up-inventory-lists/set-up-and-track-your-inventory/00/186430

Make sure you are using the Item details section (not Category details) to enter inventory purchased items in QBO.

Rustler · ‎April 10, 2020

Hi, made adjustments to my inventory quantities after we did a manual check. Problem is our expenses went up as we modified the inventory. Why? And hot to fix?

If you reduced the qty on hand in your adjustment, then the cost of what is missing has to be posted to some expense account. The most typical is COGS>shortage/theft/loss. So if that is what happened, you reduced the qty on hand, then the cost is correct and there is nothing to fix

Anonymous · ‎April 10, 2020

Thanks Rustler, the only thing is that the mistakes in qty was just that, a mistake in input. Instead of 600 units, I registered 700 units. Then went back a few weeks later and corrected it when I realized it was wrong. So when I look at my dashboard, under Expenses I can see loss of inventory has gone up. But it should as this was a mistake of data input, not a loss or theft or poor inventory management at the storage unit. Hope I am explaining this well.

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Hi, made adjustments to my inventory quantities after we did a manual check. Problem is our expenses went up as we modified the inventory. Why? And hot to fix?