WorkingPoint adjusts your inventory quantities automatically after every purchase and sale, but from time to time, you might have to adjust them yourself. For example, during an inventory count, you discover a box of t-shirts that you did not enter when you first set up the item. Or, you might need to make an adjustment after taking inventory.
When you increase a quantity, WorkingPoint increases the value of the items on hand and the quantity available. For example, if the current average cost is $5 and you increase the quantity by 10, WorkingPoint increases the value of the items on hand by $50 and increases the quantity by 10. WorkingPoint adjusts the average cost of the item as needed.
To add to the available quantity of an item:
Click the Items tab to open the Items List.
In the sidebar, click Inventory Items to narrow the list to show only items you track inventory for.
Locate the item and click the item's name to see its details.
On the item's detail page, click Add Inventory in the right sidebar.
In the Qty to Add field, enter the number that you are increasing the item by.
If the cost per unit has changed, enter the new cost.
WorkingPoint enters the current average cost of the item but you can change it if you know the exact per unit price of the items you are adding.
Select the date of the adjustment, if you need to.
Choose the account you use to track inventory adjustments.
You must select an adjustment account before you can save this adjustment. You can use one account for all adjustments, both increases and decreases. WorkingPoint recommends that you use the Cost of Goods Sold account but you could create an expense account for inventory reductions and an income account for inventory additions. Check with your accountant to see what would work best for your business.
(Optional) In the memo field, enter the reason for the adjustment to remind yourself later.
Note: You can also add to an item's available quantity when editing an item. To edit an item, click Edit Item from the view details page and then click Add Quantity.
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