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C
CARWISE
January 16, 2024
Question

How to apply a supplier credit as a price adjustment on an inventory item? I would need to change price, cogs, reduce my inventory account

  • January 16, 2024
  • 1 reply
  • 0 views
I usually do a supplier credit and use the category of inventory account as opposed to crediting the actual product as that creates a negative qty. I then manually edit the price in the products page. I just realized that this is not reducing my cogs. Do I need to do a manual journal entry? how can I select a specific product in the journal entry?

1 reply

T
Trish_T
January 16, 2024

Hi CARWISE,

 

Thanks for reaching out to us here.  Entering a Supplier Credit can be done seamlessly in QuickBooks Online.  However, based on the details you've provided, I suggest speaking with an accounting professional.  They will be able to provide their expertise and best course of action, to ensure a positive outcome in all areas of your books.  If you don't have an accountant, we can help you locate a ProAdvisor in your local area.

 

If you have any other questions, feel free to reach out.  We would be glad to help!

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