Adjust inventory for a part return of a cash supplier item purchase

CT-56
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Trusted Cover User
Australia
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Adjust inventory for a part return of a cash supplier item purchase

I purchased 2 x items and paid supplier as a EFTcash transaction.

Items were entered into purchases register as a new purchase and entered payment to settle.

1 x item was returned to supplier so I created a manual debit and recorded to receive payment back to our bank account. Bank registered shows this ok.

Checked the item on the inventory and shows as item still in stock.

Now how do I adjust the item on the inventory.

CT

  

1 REPLY 1
Steven_M
MYOB Moderator
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MYOB Moderator
New Zealand
MYOB Moderator

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Re: Adjust inventory for a part return of a cash supplier item purchase

Hi @CT-56 

 

Generally, if the original transaction was an item based transaction you want to create a negative sale/purchase which does involve that item. By doing that it will place the item into stock when that credit/debit note has been recorded. See Help Article: Supplier returns, debits and refunds for more information on that topic.


If you have manually created a service layout based credit/debit note, you could look at recording an adjust inventory transaction to adjust the inventory to the required amount.

 

Although, it should be noted, that if you have returned stock to a supplier the value of that stock will likely reduce. For example, say I purchased an item for $100 and then found out it was faulty thus returned the stock back to that supplier you would record a negative purchase (debit note) of $100 thus reducing the inventory stock to zero.

Kind regards,
Steven

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