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Level 1

QBO: When processing Other > Inventory Adjustment, I get the accounting I expect (Dr:Shrinkage Cr:Inventory), but also get duplicate entry with same accts but no amounts

 
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Best answer April 17, 2019

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QuickBooks Team

QBO: When processing Other > Inventory Adjustment, I get the accounting I expect (Dr:Shrinkage Cr:Inventory), but also get duplicate entry with same accts but no amounts

Hello @wz-lieberman,

 

Your inventory adjustments would show duplicated lines but they aren't necessarily duplicating the amounts of your inventories. Let me provide some details and get you familiarized the ins and outs of inventory adjustments.

 

When you create an inventory adjustment, the affected accounts are your Inventory Asset and Inventory Shrinkage. In the Transaction Journal of your inventory adjustment, it'll show two sets of the adjustment.

 

The adjustment wherein there are no amounts denotes the change in your inventory quantity. While the other denotes the change in the value of your inventory.

 

I've attached an article for more information about inventory.

 

Feel free to leave a comment below if you have any other concerns.

View solution in original post

3 Comments
QuickBooks Team

QBO: When processing Other > Inventory Adjustment, I get the accounting I expect (Dr:Shrinkage Cr:Inventory), but also get duplicate entry with same accts but no amounts

Hello @wz-lieberman,

 

Your inventory adjustments would show duplicated lines but they aren't necessarily duplicating the amounts of your inventories. Let me provide some details and get you familiarized the ins and outs of inventory adjustments.

 

When you create an inventory adjustment, the affected accounts are your Inventory Asset and Inventory Shrinkage. In the Transaction Journal of your inventory adjustment, it'll show two sets of the adjustment.

 

The adjustment wherein there are no amounts denotes the change in your inventory quantity. While the other denotes the change in the value of your inventory.

 

I've attached an article for more information about inventory.

 

Feel free to leave a comment below if you have any other concerns.

View solution in original post

Level 2

QBO: When processing Other > Inventory Adjustment, I get the accounting I expect (Dr:Shrinkage Cr:Inventory), but also get duplicate entry with same accts but no amounts

Hello, we're seeing the same thing happening with our adjustments. Why does it show the second set if there is nothing happening in that set? Is there a way to keep it from doing this? When we have to dig in to our inventory because of a discrepancy that this could easily start causing confusion, especially as we expect to be making weekly adjustments as a work around for our RMA process. I would definitely appreciate some more information.

Moderator

QBO: When processing Other > Inventory Adjustment, I get the accounting I expect (Dr:Shrinkage Cr:Inventory), but also get duplicate entry with same accts but no amounts

Thanks for joining the thread, @GiuliettaM.

 

Happy to provide some additional insight into why you're seeing to entries when doing an inventory adjustment. As my colleague mentioned previously, the second entry with no amounts represents the change in your inventory quantity, while the other is the change in value of the inventory. Quantity represents the number of on hand product you have, while value is the dollar amount of the on hand product you have.

 

For more information on inventory adjustments in QuickBooks Online, you can check out: Adjust inventory quantity on hand in QuickBooks Online

 

Let me know if you have any other questions. I'm here to ensure your success.

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