Forum Discussion

nicolehealey1's avatar
nicolehealey1
Contributing User
8 months ago

Returning a purchase

I am trying to return an item, which inventory displays x22 on hand. I am trying to return this x22 in 'Purchases' to generate a credit/return however no matter how many times I try it comes up with an error message saying 'processing this purchase would leave the item with no items on hand and a non-zero value in inventory'. HELP!

10 Replies

  • Mike_James's avatar
    Mike_James
    Ultimate Cover User
    8 months ago

    Hi nicolehealey1 , thank you for these figures. Since you want to credit out all the remaining stock, and the supplier credit has to be -22 at $22.10 = -$486.20, then you are going to have to reduce the value of stock on hand (via an inventory adjustment) before you can record the credit. 

    The inventory adjustment should have:

    NIL for the quantity

    NIL for the unit cost

    -$83.65 for the amount ($486.20 desired value less $569.85 existing value)

    Use a cost of sales/expense GL code such as inventory adjustments (5-xxxx or 6-xxxx as you prefer).

     

    After this correction, the on-hand stock will be valued at $486.20 and you can record the credit.

  • Mike_James's avatar
    Mike_James
    Ultimate Cover User
    8 months ago

    Hi nicolehealey1 , without knowing what you have tried so far, my first suggestion is to make sure that the amount of the credit is the same as the current on hand stock value. This may not be the same as the original purchase value.

  • Mike_James's avatar
    Mike_James
    Ultimate Cover User
    8 months ago

    Hi nicolehealey1 , can you quote some more values:

    There are 22 on hand, stock value is $???

    So the purchase credit should be -22 at $??? (unit cost as per item information screen) = -(the same stock value).

    Does this credit lead to the error message?

  • nicolehealey1's avatar
    nicolehealey1
    Contributing User
    8 months ago

    Hi Mike_James the item was purchased at 22.10. I do the credit at the same unit cost but still get the purchase error. 

  • Mike_James's avatar
    Mike_James
    Ultimate Cover User
    8 months ago

    Hi nicolehealey1 , what is the current stock value of the item being credited? Can you attach a screenshot of the item information window?

  • nicolehealey1's avatar
    nicolehealey1
    Contributing User
    8 months ago

    Hi Mike_James Ahh it's now $20.40 at last cost. Is that the reason why the system won't let me process it? 

  • Mike_James's avatar
    Mike_James
    Ultimate Cover User
    8 months ago

    Hi nicolehealey1 , indirectly this may be relevant. It's the on-hand cost that determines whether the credit will go through. Can you attach a screenshot of the item information window, which you can get to via the item list, or by drilling down from the item in the purchase. On the right-hand side of the item information window, it displays the on-hand quantity, the average unit cost, and the total value. Once I know these 3 figures I can advise further.