Stock quantity discrepancies
I have a number of imported items that we purchase separately, however they are combined together and coded with a new item number so when we sell them we can sell them as a complete item. This has...
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G'day Mike_James thanks for your help on that 1 - now how do I change my current quantities without affecting my journal? If I do a inventory quantity change, it will allocate the cost to a particular cost account, however I don't want to allocate costs for this as it is just a stock reset/confirmation.
Thanks again
Hi CameronL93 , I presume that all 6 items in your screenshot have costs as well as quantities, so I would really need to see costs as well.
In your screenshot you have 9 onhand of item 41 and 70 onhand of item 42, and larger quantities of the related items.
So for example if 9 is the true onhand stock quantity of item 41, then you would need to prepare an inventory journal which (a) brings that item up to its full cost, via a zero quantity line with the appropriate dollar amount (this amount will be added to the existing onhand value), and (b) removes the quantity and cost of the related items, via negative qty lines. Every line should be coded to an inventory adjustment account in the cost of sales.
Depending on the current unit costs of each item, overall stock value may reduce, possibly because prior sales were not recorded at the correct cost of sale.
