Entering information in the Adjust Inventory window

Keep in mind that only adjustments should be entered in the Quantity column field; in other words, enter the quantity by which your inventory has changed, not the actual quantity of your inventory. For example, if your actual quantity is 100 items, but your MYOB AccountEdge records show that your quantity is 125 items, enter a quantity of -25 in the Quantity column.

The entry you make in the Account field of the Adjust Inventory window depends on the type of adjustment you're making. Here are a few typical situations; choose the option that most closely matches your situation:

Warning: Be very careful choosing the account to enter in the Account column!

If you choose Option A, B or C in the list below, keep in mind that the item's inventory asset account's value will change when you record this transaction. This is probably the most common entry to make in this type of inventory adjustment.

If you choose Option D, however, the inventory asset account's value will not change. In most cases, you will want the value of the inventory asset account to change, so be very sure you want the account's value to remain the same before you enter that account in the Account column.

Enter the account you usually use to track loss. In this situation, most businesses use an expense account called "Shrinkage," or a similar name, to track this type of loss.

Option B: If you didn't record an item invoice when you sold the item

Enter the account you usually use to track the cost of sales for this item. If you're not sure what this account is, display this item in the Item Information window, then check the Cost of Sales Account field; the entry in that field is the account you should enter in the Account column.

Option C: If you didn't record an item purchase order when you purchased the item

If you used AccountEdge to write a check for the purchase, use the same expense account that you used when you wrote the check to buy the item. See Finding, changing, deleting and reversing Spend Money transactions to learn how to find a check you've written in AccountEdge.

Option D: If you're fixing an error you made when you entered your original item count when you set up AccountEdge

If you made a mistake when you first entered your item information into AccountEdge, use this item's inventory asset account. If you're not sure what this account is, display this item in the Item Information window, then check the Asset Account for Item Inventory field; the entry in that field is the account you should enter in the Account column.

Step by step
To adjust item quantities