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Level 1

Just wanna ask the difference in adjusting an inventory, if we use "Inventory"and "Transfer Out?

What will be the effect of both inventory adjustment account?
1 Comment
QuickBooks Team

Just wanna ask the difference in adjusting an inventory, if we use "Inventory"and "Transfer Out?

I'm here to share some details about inventory adjustment, orellanoc3682.

 

If you're referring to moving inventory items from one location to another, this isn't available in QuickBooks Online (QBO).

 

Additionally, once you save the inventory adjustment, QBO automatically records the changes to your stock Asset and Cost of Goods Sold (under stock Shrinkage) accounts.

 

Here's how:

  1. Go to the + New icon and then select Inventory Qty Adjustment.
  2. Enter the Adjustment Date.
  3. In the Inventory adjustment account drop-down menu, select the appropriate account.
  4. Select the products in the Product field.
  5. For each item, enter either a new quantity or a change in quantity.
  6. When you're done, click on Save and close.

 

For more information about inventory quantity in QBO, I recommend checking out this article: Track Inventory.

 

Lastly, I've included an article that'll help you update the inventory items. This is to ensure all the inventory products are track accurately: Edit an Inventory Quantity Adjustment.

 

Let us know if you have other questions or concerns by clicking the Reply button. Doing so helps us to provide assistance for you.