Inventory unit cost and on-hand quantity are incorrect

Section I: Verify the Purchase/Receive invoice is correct

1. Select Tasks, and then select Purchase/Receive Inventory
2. Select Lists, and then select the item needed
3. Verify the quantity and amount are correct, or there is not a duplicate invoice
4. If the invoice is incorrect or a duplicate, delete or modify the invoice to resolve the issue

Section II: Adjust Quantity

Note: If adjusting cost, these steps must be performed first.

1. Select Tasks, and then select Inventory Adjustments
2. Select the needed Item ID
3. If desired, enter a Reference number
4. Enter effective Date

Note: If also adjusting unit cost, select the date one day prior to the effective date (for example, if the cost is changing 5/15/17, select 5/14/17).

5. If desired, enter Job ID
6. If desired (this is not recommended), change GL source acct
7. Enter the amount to Adjust quantity by, as a positive number to raise, or negative to lower

Note: If also adjusting unit cost, the quantity on-hand must be reduced to zero (for example, if the current quantity is 5, adjust it by -5); the correct quantity will be re-entered in the next Section.

8. If desired, enter Reason to adjust
9. Click Save
10. If only adjusting quantity, repeat these steps as necessary, and then close Inventory Adjustments
11. If also adjusting unit cost, do not close the window, and proceed to the next Section

Section III: Adjust Cost

1. Select Item ID
2. If desired, enter Reference number
3. Enter effective Date
4. If desired, enter Job ID
5. If desired (this is not recommended), change GL source acct
6. Enter new Unit cost
7. Enter amount to Adjust quantity by, to restore the quantity to the correct level
8. If desired, enter Reason to adjust
9. Click Save
10. Close Inventory Adjustments
11. Verify the cost and quantity is correct, if not proceed to next Section

Section IV: Run Integrity Check

Run Inventory/Journal Synchronization Test, follow Article ID 10248: "How to run Inventory / Journal synchronization test" in Related resources section

DocLink: How to run the Inventory / Journal synchronization test