Entering inventory adjustments

Product inventory adjustments allow you to adjust your inventory records for stock items when you need to make corrections. For example, you may need to enter a product inventory adjustment after taking inventory of all products and discovering loss or damage that has decreased a product's physical inventory.

Inventory adjustments are entered just as inventory receipts are entered, and the only difference between the two is that negative quantities can be entered for inventory adjustments. Adjustments can be entered only for products with an Active, Inactive, or Out of Producton status, and iMIS automatically updates and adjusts your product inventory records when adjustments are posted.

As with all inventory transactions, manually posting inventory adjustments is recommended. To post inventory adjustments manually, disable the Automatically Post Inventory Receipts/Adjustments option on the Inventory System Setup window (from Orders, select Set up module, and click Inventory).

As with inventory receipts, your method of storage determines how inventory adjustments are entered. In order to record inventory adjustments for a product stored in multiple warehouses, the Enable Multi-Warehouses option must be enabled on the Inventory System Setup window.

To enter inventory adjustments

  1. From Enter and edit receipts and adjustments window, click New.
  2. (optional) Enter the Date of the inventory adjustment, or accept the default system date.
  3. Enter an Invoice # for the inventory adjustment.
  4. Enter a brief Description of the product inventory adjustment.
  5. Enable the Inventory Adjustment option.
  6. Enter the code of the Product for which you are entering an inventory adjustment (select the Find icon to look up a product code). Adjustments can be entered only for products that have an Active, Inactive, or Out of Production status.
  7. Press Tab. The product's Description and Unit Cost display by default. The Description can be overridden if necessary.
  8. Enter the quantity of the inventory adjustment:
    • Enter a positive amount in the Quantity field to increase a product's inventory.
    • Enter a negative amount in the Quantity field to decrease a product's inventory.
  9. Enter the Unit Cost of the product, or accept the default unit cost.
  10. Press Tab, and repeat this process for each additional product adjustment.
  11. Click Save to enter the inventory adjustment.

To enter inventory adjustments for multiple warehouses

  1. From Enter and edit receipts and adjustments window, click New.
  2. (optional) Enter the Date of the inventory adjustment, or accept the default system date.
  3. Enter an Invoice # for the inventory adjustment.
  4. Enter a brief Description of the product inventory adjustment.
  5. Enable the Inventory Adjustment option.
  6. Enter the code of the Product for which you are entering an inventory adjustment (select the Find icon to look up a product code). Adjustments can be entered only for products that have an Active, Inactive, or Out of Production status.
  7. Press Tab. The product's Warehouse, Bin (if applicable), Description, and Unit Cost display by default.
  8. Enter the Warehouse for which you are entering the inventory adjustment (select the Find icon to look up a warehouse), or accept the product's default warehouse.
  9. Enter the warehouse Bin in which the product is stored, or accept the default bin.
  10. (optional) Enter the product's Description, or accept the default product description.
  11. Enter the quantity of the inventory adjustment:
    • Enter a positive amount in the Quantity field to increase a product's inventory.
    • Enter a negative amount in the Quantity field to decrease a product's inventory.
  12. Enter the Unit Cost of the product, or accept the default unit cost.
  13. Press Tab, and this process for each additional product adjustment.
  14. Click Save to enter the inventory adjustment.