I appreciate you taking the time reaching out to us with correcting your inventory, @billhdz.
First, we would advise that you talk to your accounting professional. They can help further with the next steps to do or write off any amount.
You can also do an inventory adjustment, but we would still recommend that it be done with your accountant's approval. Here's how:
- From the Vendors menu, go to Inventory Activities.
- Choose Adjust Quantity/Value On Hand.
- From the Adjustment Type drop-down, select Quantity and Total Value.
- In the Adjustment Account drop-down, select the account you normally use.
- Enter the the Adjustment Date too.
- Add the items to adjust by clicking the Find & Select Items. If you have a lot, search for any product in the Find field. Select Add Selected items.
- Select Save & Close and repeat these steps for the next set of items.
Take a look at this article to learn more about the process and the implication of your inventory adjustments: Adjust your inventory quantity or value in QuickBooks Desktop.
After doing the adjustments, review your inventory status reports and make sure everything looks good.
- Go to Reports and then Inventory.
- To check your product’s value, select the Inventory Valuation Summary. To check your product’s quantity, select the Inventory Stock Status by Item.
- Look for the items you adjusted and make sure everything is correct.
Feel free to post here again if you need assistance with your inventory management. Also, we'd love to hear if you can share what method worked for you with this inventory concern. Have a good day.
