Inventory Adjustments

Sometimes it is necessary to adjust the quantities on hand or cost of an item. Breakage, theft, loss or miscounting can cause the true quantity on hand to differ from what CustomBooks™ reports. Adjusting inventory counts is a necessary part of doing business in a product company. We’ve made it easy with our Inventory Adjustments document.

Creating a Single Inventory Adjustments

Navigate to Inventory → Inventory Adjustments.
Click Create → Single Item.
Change the date if necessary.
Enter a number for the adjustment or allow the system to enter it for you. This auto numbering sequence may be changed by going to Admin Panel → Auto Numbering.
Enter the item code to adjust. Once entered, the system will pre-fill the Cost of Goods Sold Account from the Item Card. This may be changed if necessary.
Enter or change the location of the item you are adjusting.
Enter Project and Class if necessary.
Enter a quantity in either the Adjustment or New Quantity field. If you are entering the adjustment number for the item, use the Adjustment field. If entering a new inventory total for the item, use the New Quantity field. You may use a negative number in the adjustment field if you need to decrease the new total.
Click Save to Save the Adjustment.

Creating a Single-item Inventory Adjustment

See How to Create an Inventory Adjustment

This video shows how to create an Inventory Adjustment in CustomBooks, including selecting a Single-Item or Multi-Item adjustment, choosing the item and optional dimensions, adjusting quantity or value, and saving the update.

Video Summary

To create an Inventory Adjustment, go to Inventory > Inventory Adjustments and select Create, then choose either Single-Item or Multi-Item. Select the item, update the date if needed, and optionally change the location or enter a project or class. You can adjust either the product quantity or the product total value, then enter the adjustment amount and save the update.

Key Takeaways

Create Inventory Adjustments from Inventory > Inventory Adjustments.
Choose either a Single-Item or Multi-Item adjustment.
You can update the date, location, project, or class when needed.
CustomBooks can adjust either product quantity or product total value.
For value adjustments, you can enter a new unit cost; quantity adjustments do not allow item value changes.

＋ Read the Full Video Transcript

In this video, we’ll guide you through creating an item adjustment in CustomBooks.

To begin, navigate to Inventory and select Inventory Adjustments. Click Create and choose either Single-Item or Multi-Item. For this example, we’ll use Single-Item.

The date will automatically populate with today’s date. If the adjustment needs to be posted to a different date, update the date field accordingly.

Next, select the item you want to adjust. If necessary, you can change the location, or enter a project or class in the provided fields.

By default, CustomBooks adjusts Product Quantity. If you need to adjust the Product Total Value, you can make that change here.

For value adjustments, CustomBooks allows you to enter a new unit cost. However, if you're making a quantity adjustment, you won’t have the option to modify item values.

Finally, enter the adjustment amount and click Save to update your inventory in CustomBooks.

That’s it. Your inventory is now updated.

Note: Click the overall quantities and valuation by item link to view inventory across all locations.

Multi-Item Inventory Adjustments

You can also create inventory adjustments for multiple items at the same location with the same date/account by using the multi-item inventory adjustment. This form allows you to add multiple items in rows.

Creating a Multi-item Inventory Adjustment