We are so delighted to welcome you on board, @hollyfb. Thanks for posting here in the Community. I'll assist you today in addressing your stock shrinkage.
You may find that you have more or fewer of an item than QuickBooks indicates. If you use QuickBooks Online Plus to track stock, you can manually adjust an item's quantity to match what you actually have in stock without recording a purchase or sale. Always remember that when you save the stock adjustment, QBO automatically records appropriate adjustments to your Asset and Cost of Goods Sold under stock Shrinkage accounts.
Here's how you can enter a stock quantity adjustment:
- Go to the + New.
- Select Stock Qty Adjustment.
- Enter the Adjustment Date.
- In the Stock adjustment account drop-down, choose the appropriate account.
- Select the products in the Product field. Note: The description and current quantity on hand auto-populate.
- For each item, enter either a new quantity or a change in quantity.
- In the Memo field, enter the details about the adjustment.
- Once done, Save and close.
For more detail, refer to this article: Adjust stock quantity on hand in QuickBooks Online.
Additionally, you can utilize this article to run a report that will provide you with information about your inventory in QuickBooks: Use reports to see your sales and inventory status. Later on, you can customise your report to the details you need.
You can always post here again if you have further questions. The Community is available to handle all your queries. Have a great day!
