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Dvorak24
October 29, 2020
Solved

Inventory Shrinkage

  • October 29, 2020
  • 1 reply
  • 0 views

Hello, I'm looking for some help with the following issue;

I have started a new company and instead of adding the inventory to the first purchase order I added it as a starting quantity amount when I uploaded the inventory list. I then adjusted the amounts of each inventory to 0 and then added the amounts to the purchase order like I should have done originally. I now have a problem with Inventory shrinkage and it is effecting my Profit and Loss Report. 

How can I remove the Inventory shrinkage and original starting value in the Inventory Asset account on QuickBooks Online?

 

Thanks

Best answer by Rustler

You can try opening the register for inventory asset from the chart of accounts.  Scroll down to entries that say START and edit each one setting the value to zero, do not change the qty.

by not changing the qty to zero your previous adjustment will remove that qty but there will be no value associated 

1 reply

Rustler
RustlerAnswer
October 30, 2020

You can try opening the register for inventory asset from the chart of accounts.  Scroll down to entries that say START and edit each one setting the value to zero, do not change the qty.

by not changing the qty to zero your previous adjustment will remove that qty but there will be no value associated 

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Dvorak24Author
November 2, 2020

Perfect, thanks for your help. Much appreciated 

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