To enter or edit average cost and inventory adjustments

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To Enter or Edit Average Cost and Inventory Adjustments

1. Select the Actions tab, Inventory module and double-click on the Adjust Item Quantities and Average Cost Module step.
2. The Inventory Adjustment - Setup screen is displayed.
3. Enter the Journal Entry date, set the Defaults and press OK. NOTE: Journal Entries are not made to adjust inventory until you Review the transactions and press the Commit button
4. After entering the options and pressing [OK], the Inventory Adjustments screen is displayed.
5. Type the first letters of the Location description and press enter to select one from the list. Any adjustments that have already been entered for this location are displayed and can be edited. New adjustment entries can be added to the last row of the list, which is blank. To enter or edit a location, return to the Main Module and select the Data Entry tab, Inventory Module and double-click on the Add/Edit Warehouse/Locations Module step.
6. Type the first letters of the product description and press enter to select one from the list. The UOM, Average Cost, Adjusted Cost, On Hand and Physical Count fields are filled in automatically when the item is selected. Items can be entered or edited by returning to the Main Module and selecting the Add/Edit Items Module step.
7. Enter or edit the Adjusted Cost field.
8. Enter or edit the Physical Count or the Change field.
9. Enter the reason for the adjustments.
10. Press the [Info] button to view information on this item and change the general ledger default accounts.
11. The Additional Information screen is displayed. Data displayed on this screen is supplied by the Add or Change Items Module step on the Data Entry tab, Inventory Module.
12. Modify the general ledger accounts as needed on the Additional Information screen. Press [OK] once the changes are completed.
13. Select another Location or Item, or press [Close Current Window] to return to the Inventory Adjustments - Setup screen.
14. These items have not been committed yet. Any additional items that are entered at this point will have the same batch number and journal entry date. To commit this batch, select the [Review] button on the Inventory Adjustments - Setup screen. Once you have reviewed the data, press the [Commit] button on the Inventory Adjustments Review screen. The transactions cannot be edited after they have been committed.