Inventory and AgriStability > Inventory adjustments > Entering an inventory adjustment
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Entering an inventory adjustment
Adjustments are used:
- to correct opening or inventory balances
- to record births, deaths, crops used for seed and feed, harvest and inputs usage
- as year-end adjusting entries by accountants for tax purposes
- to transfer inventory from one account to another (transfer in/transfer out)
- as transfers between grades of the same commodity (transfer) as required by AgriStability
- to record a change in value
To adjust your inventory:
- Select Inventory Adjustment from the Inventory menu. The Select Postable Account - Inventory dialogue box opens.
- Select an inventory account from the list and click Select. Note: If the account isn’t listed, click Addto create it.
- The Inventory Adjustment dialogue box opens, displaying four tabs. Each tab features:
- Select the Adjust Balance tab to enter the account’s opening quantity and unit value. This tab is only available if the account’s quantity is zero.
- Select the Adjust Quantity tab to change the quantity on hand. This tab is available if the account’s quantity is greater than zero.
- Select the Adjust Value tab to change the unit value. This tab is available if the account’s quantity is greater than zero.
- Select the Transfer tab to record a transfer between classes, grades or commodity types for AgriStability purposes. It’s available if the account is a detailed inventory account.
Last updated on August 22, 2014 by FCC AgExpert