Adjustments and modifications to your tracked inventory are a breeze using QuickBooks. Made a mistake while making adjustments, then find “How to Delete, Edit, and Adjust Inventory in QuickBooks”.
QuickBooks business accounting software is recommended by top accounting professionals. It is one top-class software to maintain your accounts online. You not only can record financials but can track your physical inventory as well.
Table of Contents
- 1 Inventory Adjustment in QuickBooks
- 2 Steps on How to Delete Inventory Adjustment in QuickBooks
- 3 How to Edit the Inventory Adjustment?
- 4 How to Adjust Inventory Quantity on Hand?
- 5 FAQ’s
Inventory Adjustment in QuickBooks
QuickBooks is loaded with numerous features and tools that have made business accounting management simple and easy. The software helps in
- Generating reports,
- Tracking sales,
- Tax planning,
- Inventory management and much more.
There are times when QuickBooks users need to deal with inventory adjustments. Though some find it hard and for others, it’s a cakewalk. It is especially new QB users that find it extremely complex and confusing to deal with such a problem.
Though the process is not difficult if you know it if you are not familiar with the process then check out this guide on how to Delete, Edit, and Adjust Inventory in QuickBooks.
Steps on How to Delete Inventory Adjustment in QuickBooks
Follow the below-mentioned steps for deleting the inventory adjustments in QuickBooks.
- Launch QuickBooks in your system.
- Log in to the program by entering the required credentials.
- Click on the new button and choose the Inventory part.
- Move below the list in the Inventory part and locate the items you want to delete.
- Choose the items to be deleted.
- Select Quick Reports from the display window.
- Click on the All Tab and set the date range.
- Right-click on the entry next to the product entry which you want to delete.
- Finally, choose the delete option.
- In case you need to delete several adjusted inventories, you can follow the same steps and delete multiple inventories at once.
- Save your preferences and your inventory adjustments will be completely deleted.
How to Edit the Inventory Adjustment?
The QuickBooks user has the flexibility not only to delete the inventory adjustment in QuickBooks but also you can edit it if there is a requirement. To follow you have to search the Inventory Adjustment as mentioned in the above steps. Once the Inventory Adjustment is located you can easily view options to Edit or Delete options. If you need to edit, you just have to click on the Edit option and do the editing as per your requirements.
- Choose the Find + button.
- Now click on the advanced search tab.
- From the All Transactions drop-down button, select Inventory Quantity Adjustment.
- When the Adjustment is found, click on the edit option and modify your adjustment.
How to Adjust Inventory Quantity on Hand?
People always are not concerned about how to delete inventory adjustments in QuickBooks but even want to know how to adjust the inventory at hand. If you want to adjust your stock without recording a sale or purchase transaction then below are the steps that will help you do so.
- Choose the Plus Icon and select Inventory Quantity Adjustments.
- Type the Adjustment Date.
- Enter Inventory Adjustment Account.
- Choose the product and you will see product info and the quantity at hand automatically displayed.
- Enter new Description (optional).
- Mention the new quantity.
- Add additional products (optional).
- Enter the Memo (optional).
- Click Save.
QuickBooks records appropriate adjustments automatically to your stock Asset. Thus making it simpler to work with QB. Hope you now have a much better idea of “How to Delete, Edit, and Adjust Inventory in QuickBooks”. But in case you are still not able to figure out and know how to add Inventory in QuickBooks, then talk to our customer care executive.
The QB Consultant team is approachable via phone, email, or live chat mode. They assure quick and responsive Consultant through the QuickBooks Consultant Experts. Thus wait no longer and give us a call now.
What to do if I am unable to delete Inventory Adjustment in QuickBooks?
If there is a workaround and you’re unable to delete Inventory Adjustment in QuickBooks Desktop. You’ll want to create a new adjustment to offer the duplicate entry and then you can add a memo in order to avoid confusion if any. Here is how:
● First, go to the Vendors menu and then select Inventory Activities
● Next, choose the “Adjust Quantity Value on Hand”
● Fill out the information that is required
● Make sure that QTY Difference should be negative if you’re decreasing the quantity
● Otherwise, it should be positive if it’s an increase
● In the Memo field, enter a note
● At last, select Save & Close.
Once done, you can take a look at your Inventory Valuation Detail report to make sure they are now correct.
● Go to Reports and then Inventory
● Select the Inventory Valuation Detail report
● Look for the items you adjusted and make sure everything is correct.
Why do we use QuickBooks Inventory?
QuickBooks Inventory is a feature used to manage all track inventory that contains complete details in the form of directories, registers, statements, or checklists. Inventory plays an important role in running and managing business requirements/demands and helps in handling most of the administrative work. Moreover, it helps you in making decisions over purchasing and sales as well as analyses which product your customers requirement. It also cuts your costs and saves a lot of time.
What are the steps involved in deleting an Inventory Adjustment using the Advanced Search feature?
If you’re using QuickBooks Online then this feature is very helpful in deleting an Inventory Adjustment. You need to apply the below steps:
● First, go to the Search tab on the Toolbar
● Next, select the Advanced Search tab
● From the All Transactions drop-down list, you have to choose the “Inventory Quantity Adjustment”
● Set the other filters and then click the Search tab
● After that, choose the transaction and click Delete at the bottom of your screen.
How to Remove duplicate “Inventory Adjustment” entry in QuickBooks Desktop?
First, go to the Chart of Accounts and then double-click on the “Inventory Asset”. Go to the date that you made the adjustment and select the line item (here you don’t need to open the entry). Do a right-click and delete the entry by selecting the Delete option. It will remove duplicate Inventory Adjustment entries.