How To Make Inventory Adjustments
What you need to know:
An inventory adjustment is used to correct or update the quantity, value, accounts, or grades associated with inventory records. Adjustments may be required when inventory quantities change; unit values need to be updated, or inventory must be transferred between accounts. If you are enrolled in AgriStability, you may also need to adjust or transfer inventory by grade to ensure your records accurately reflect your inventory details. The adjustment types are available:
Adjust quantity: used to increase or decrease the quantity of inventory in an account due to activities such as harvest, seeding, or other inventory changes.
Adjust value: used for changing the unit value of a specific inventory account.
Transfer: used to move inventory quantity between accounts and/or change the grade of an inventory commodity. Grade transfers are used for AgriStability tracking.
What you need to do:
Before making your inventory, you need to gather some information:
The inventory account you need to adjust, including the current quantity, unit value, and balance shown in the account.
The type of adjustment you are making: adjusting quantity, adjusting value, or transferring inventory.
The adjustment date, reference number if needed, and the appropriate transaction type.
Depending on the adjustment type selected, you will need to enter either a new quantity or a new unit value.
When transferring inventory between accounts, you must identify the account the inventory is being transferred from and the account it is being transferred to.
Applicable grade information, if enrolled in AgriStability and transferring inventory between grades.
Any notes or supporting details you want to include with the adjustment.
How to (Step by Step):
To adjust inventory quantity:
Select Inventory.
Click Adjust inventory and choose Adjust quantity.
Click Choose and select the inventory account you want to adjust.
Select the Date of the adjustment.
Enter a Reference number, if desired.
Select the Transaction type using the drop-down menu.
Choose the Type of adjustment from the drop-down menu.
Use the drop-down menu to select the inventory Grade, if applicable.
Enter amount you wish to Adjust quantity by.
Enter Notes, if applicable.
Click Save.
To adjust inventory unit value:
Select Inventory.
Click Adjust inventory and choose Adjust value.
Click Choose and select the inventory account you want to adjust.
Select the Date of the adjustment.
Enter a Reference number, if desired.
Select the Transaction type from the drop-down menu.
Use the drop-down menu to select the inventory Grade, if applicable.
Enter value next to Adjust unit value to.
Enter Notes, if applicable.
Click Save.
To transfer quantity:
Select Inventory.
Click Adjust inventory and choose Transfer.
Click Choose to select the inventory account the quantity is coming From.
Select the inventory Grade using the drop-down menu, if applicable.
Click Choose to select the inventory account the quantity is going To.
Select the inventory Grade using the drop-down menu, if applicable.
Enter the Quantity to transfer.
Select the Date of the adjustment.
Enter a Reference number, if desired.
Enter Notes, if applicable.
Click Save.
References and Additional Resources
Still have questions? Contact support
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