How to add or correct price to inventory physical verified stock.
The cost of inventory on hand is established by entering a purchase, you do not assign the cost.
When you take a physical inventory, you use inventory adjust and set the current qty to the count you found during the physical inventory. That gets the qty on hand accurate and accounts for the loss/theft/breakage.
How to add or correct price to inventory physical verified stock.
Thanks. The quantity issue is resolved, but the cost is not captured and COGS shows 0 even after updating the cost of the inventory in the EDIT - cost section . On account of this the contribution is higher. Please help to resolve this matter.
The update will take effect on new transactions since editing the cost is not a retroactive process. As a workaround, you can delete and recreate the old transactions to show them on your COGS.
You can learn more about QuickBooks inventories in the following articles below:
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.
