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Adjust Item Quantities and Average Cost

This Module step is most commonly used to make adjustments to inventory average cost or physical count.  Adjustments may be necessary due to things such as shrinkage or damage to inventory.  Adjustments can also be used to move the quantity on hand from one location to another location.

This screen should not be used to initialize the beginning average cost and physical count for items.  This step will create journal entries to your inventory account and inventory adjustment account.  It will also affect your general ledger balances if it is used.  Instead, enter beginning balances through journal entries.  The average cost and physical count for initial inventory items can be entered by selecting the Data Entry tab, Inventory Module and double-clicking on the Initialize Item Quantities Module step.  

For step-by-step instructions, see the common inventory procedures section.