Use the form to adjust the cost value of the on-hand inventory quantities after an inventory close was performed.

Note Note

The form is accessible only when you select the record of an inventory closing that has already completed.

Example

You have the the following transactions in February:

  • February 1: Inventory financial receipt for a quantity of 2 at a cost of USD 10.00

  • February 5: Inventory financial receipt for a quantity of 1 at a cost of USD 13.00

  • February 19: Inventory financial issue for a quantity of 1 at a running average cost of USD 11.00

This item was set up with the FIFO inventory model, and inventory close was performed as of February 28. The financial issue transaction of USD 11.00 will be settled to the financial receipt dated February 1 and a USD 1.00 adjustment will be made.

The following inventory receipts will then contain open inventory quantities:

  • February 1: Quantity of 1 for a cost of USD 10.00

  • February 5: Quantity of 1 for a cost of USD 13.00

To set the cost of these two items to USD 15.00, use the on-hand adjustment option to adjust the open on-hand quantities as of the last inventory close period.

Note Note

The posting date of the on-hand adjustment transaction will be the date of the last inventory close. This date value cannot be edited.

See Also