Need assistance with an inventory adjustment
We've an issue where we can't make an inventory adjustment and I can't figure what's going on/wrong. I can't isolate where I unit cost has been pulled from. Would appreciate any assistance. ...
Forum Discussion
It looks like you're trying to increase your inventory by 9 units, but with a negative dollar value per unit.
The Unit Cost needs to be a positive number, and if you want to remove stock from MYOB you would say -9 in Quantity.
Hope this helps.
Yes, trying to adjust/increase the stock on hand. It makes sense that the unit cost should be positive. Have you any advice as to how to locate where the negative and very much inflated Unit Cost is being pulled in from?
From your screenshot, it looks like this has been going on for a while.
You'll need to go back until the Current Value shows a positive value and work out what has happened from that point.
Depending how far back this goes, you may need to get an accountant to assist you.Hi ClareSP10
Don't bother trying to work out what went wrong. And the Item Register Details as well as some of the Inventory reports are also a waste of time - riddled with errors, esp if you have more than one inventory Location.
Remember that an inventory adjustment journal (IAJ) adjusts by the figures you are using, not to the figures you are using. So if the current on hand count is 10 and you want to adjust to 2, the Quantity in the IAJ should be -8.
Look at the Item Profile or generate an Inventory Value Reconciliation report if you want to see the current value and on hand count. The unit cost is derived by dividing one by the other. If the current value is say $7000.01, then your IAJ cannot be for -$7000.02 as this would make the value less then zero.
However sometimes even if you use -$7000.01 (which matches the current value) MYOB may still report the same problem. This is usually because your IAJ will trigger other adjustments which will reduce the value of your item. A typical example is where you have any Orders with a Received tick under the Orders tab of the Purchases Register. These should be 'cleared' first.
Do what you need to do to get the 'current' value and on hand count correct. Trying to undo and fix errors caused by bugs will waste time, and the error might repeat anyway. Not sure exactly what you are trying to do, for example set value to $0 or some other value. If trying to set to a specific amount (such as $0), often you need to do this as a 2 step process. First aim for an on hand count that is positive (for example 1) and a value that is positive, say $1 or $100 or $10000. Once you get that IAJ accepted, then do another one to adjust to the 'correct' figures. And once you have finished, don't forget you may need to do a GJ to correct the balance of the COGS amount being claimed, esp if MYOB has overstated or understated this.
Regards
Gavin
