QuickBooks Enterprise - Manufacturing and Wholesale 24.0
Quick question on what time of day inventory adjustments in QuickBooks take place.
Scenario:
1. We do inventory on 8/30/24 after we have finished making and shipping everything for the day. Say 5 pm on 8/30/24.
2. On 9/2/24 we crunch all of the inventory numbers.
3. On 9/2/24 Accounting generates variances
4. On 9/3/24 we go through and identify any data entry errors, etc. and come up with the final, corrected inventory numbers for the end of the day on 8/30/24. Obviously, there will some adjustments that will need to be made by Accounting.
5. On 9/3/24, Accounting does inventory adjustments for 8/30/24. The screen for inventory adjustments just has Adjustment Date, but no time of day.
My question is: What time of day, on the adjustment day (8/30/24), does the adjustment occur by QuickBooks? First thing in the morning? End of day? Some random time?
The reason for the question is that:
1. If QuickBooks adjusts the inventory in the early morning of 8/30/24, that adjusted inventory number will be wrong since we counted at the end of the day, but made and shipped things all day long.
2. If it happens at some random time of the day on 8/30/24, that adjusted inventory number also will be wrong because we counted inventory at the end of the day after we stopped building and shipping things.
3. Only if the inventory adjustment "takes effect" at the end of the day on 8/30/24, will the inventory be correct after adjustment.
Anyone have any answers?
Thanks in advance!
