When you have a discrepancy with the quantity of a Product, you can make a Manual Adjustment. The Business Edge enables you to manually adjust both tracked and non- tracked inventory without recording a purchase or sale. The Manual Inventory Entries & Adjustments option is located at the top of The Business Edge under Actions or on the right-hand side under Inventory System, Manual Inventory & Adj.
You can adjust multiple Products in a single batch. The Heading screen is shown below.
Posting Date is the date the transaction will show as an adjustment in the cardex and post to your General Ledger.
Branch will default to your Branch but can be changed by clicking on the blue box if you have multiple branches.
User Name defaults to your user name in The Business Edge.
Reference for G.L should be filled in with the reason for the adjustment is being made and can be viewed in the General Ledger Reports as well as the Manual Adjustment reports and Cardex.
Balancing G.L. Account automatically defaults from your Income Statement Control Accounts in your General Ledger. There is a system flag that will force the use of that account or not. You may want to change it if for instance you removed inventory for internal use. You could change it to Warehouse expense or some other GL account.
Change Default PO cost to be – based on a system flag you may not see this question. This Inventory Flag is located in: Utilities System Administrator System System Set Up Miscellaneous Setup Enter & Edit Entity Flags Inventory Flags
If the Inventory flag is set to – Do not Change Default PO Cost it will not be shown and the system default will be used. The System flag will allow you to choose to change the Default PO Cost in the Master file to Raw Cost, Landed Cost or not to change it at all.
Manually Adjusting Tracked Products
If the product you would like to adjust is a location/lot tracked in The Business Edge you will follow the instructions below.
First, select the Product you would like to adjust as seen below
If you have on hand inventory, The Business Edge will display the lots that are currently on hand.
If you need to correct an on-hand quantity for an existing lot for this product, you will locate the lot number in question from the list of on hand lots and enter or double click on the line to adjust it. If you are adding a lot/location that is not already in the system you can press enter or click New Line to add a new line.
When you are adjusting the on-hand quantity either into the system or out of the system, you will type the actual quantity on hand in the Adjust Quantity to be field. You can also type in -10 to remove 10 pieces or +10 to add 10 pieces. The end result is the Adjust Quantity to Be is the Quantity that you will end up with. When adjusting on hand quantities you cannot change the Cost.
When you are finished with the entry, click OK or press escape and you will see the screen below. This is a summary screen that will display the as of quantity and the adjustment quantity. As you can see below the as of quantity is 15 and the adjustment quantity is 10 so 5 were removed.
If the product in question was found in a different lot and or location or if it has a different Cost, click New Line to add the Inventory. Below is what the screen will look like when you go into a New Line. Fill in the information and press Esc or Click Ok.
The next screen is the Manual Inventory Entries and Adjustments-Detail which will give you the option adjust another product by clicking new line or you can change the existing entries by double clicking on the line. If you would like to completely remove an adjustment, there is a Remove option on the right-hand side.
If you select a product that is not lot and location tracked you will see a screen like the one below. You will enter the Quantity you are adding or removing. In this case we are adding 500 pieces. The system will use the Default PO Cost to fill the Asset Account Value. This is the value of the Quantity you are adding. You can override it by simply entering the value you would like the Inventory to go into the system as. In this case the total Value of the 500 pieces is $60 so that is entered in the Asset Account field. The offset is typically the Adjustment Account which is defaulted. In rare cases you could choose to put it into Cost of Goods sold, shown below the Asset Account.
If you were removing a Quantity you would type in the amount you are removing with a negative sign i.e. -20 to remove 20 pieces. The system would default with the Average Cost in the Asset Account field and you can again over-ride it with the value you would like to remove from inventory
When you are done you can press Esc or Click Ok.
When you are finished with your adjustments press Esc or Click Ok. The Final screen will allow you to optionally print an adjustment report located on the right-hand side or press esc or Click Ok to update the adjustment.
If you have printed your adjustment report and are ready to update, click OK on the message that will appear when you click OK or hit escape on this screen
There are a number of Manual Adjustment Reports which can be found below Inventory System Inventory Reports Adjustment Reports
The Adjustment reports can by viewed by User, Product, Date or by Lot Number and will show the Product, Date, Reference for G.L., Quantity and Unit Cost.