QB Issue Resolution:

You control this, top left of your Adjustment screen: “however the adjustment account is set up as an “other expense””

 

Change that to Equity. Prior inventory Assets on hand are part of Equity.

Resolution for Issue 'Creating New Books and Accounting for Inventory' available: Yes (Solved).
Source: Intuit Community forum.

Creating New Books and Accounting for Inventory: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

Support for Adjustment Screen
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Error Recovery for Adjustment Screen [Canada]
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