QuickBooks for Mac 2014 User’s Guide 193
Adjusting your inventory
Although QuickBooks automatically adjusts your inventory quantities after every purchase and sale, you may need
to adjust them yourself from time to time. If the quantities change because of, say, fire, theft, or breakage, you
need to adjust the quantity on hand for each inventory item affected.
To adjust your inventory:
1 Choose Vendors > Adjust Qty/Value on Hand.
Note: You can also adjust inventory using the Transaction Center.
2 Enter the name of the expense account where you track inventory loss and shortages. If you need to
assign the expense to more than one account, enter a separate adjustment for each account. You
can enter additional adjustments by clicking Next instead of OK.
3 (Optional) Enter the new quantity of each inventory item whose quantity has changed. You can also
enter the new quantity by entering the difference in the Qty Difference column. To enter a difference
that reduces the quantity, be sure to type a minus sign before the number (for example, -25).
4 (Optional) If you need to, edit the value of the inventory after adjusting the quantity. Most
businesses can accept QuickBooks' recalculation of the value, which is based on average cost. When
you edit a value, you change the average cost of the items in stock. To edit the value, select the
Value Adjustment checkbox. In the New Value column, enter the value for each inventory item whose
value you want to change.
Taking a physical inventory
You can use QuickBooks to create a worksheet for taking a physical count of your inventory stock.
To take a physical inventory:
1 Choose Reports > Inventory > Physical Inventory Worksheet.
2 (Optional) Use the report buttonbar to adjust the content and appearance of the worksheet.
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