QB Issue Resolution:
here is the problem, yes you can do an inventory adjustment that is back dated
to do things correctly you have to also adjust total value, the value of the beginning inventory you are adding to the current inventory for the current qty on hand
to do that the the adjustment will need to you select the account that value is coming OUT of. Even if you just do a qty adjustment, value is still taken OUT of the adjusting account you select
If you do a complicated qty only adjustment, then average cost will decrease starting the date of the adjustment, skewing COGS and profit
and if you back date to before this tax year, you change the financial reports for the previous year(s)
You would be better off just using an other charge or service item to sell the qty not on the books, and accept a 100% profit on them, or discount the sales price for that qty only – fire sale or something
Resolution for Issue 'How do i enter opening inventory quantities after the fact?' available: Yes (Solved).
Source: Intuit Community forum.
How do i enter opening inventory quantities after the fact?: 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 Inventory
Quickbooks Repair Pro will resolve it efficiently and affordably. Guaranteed resolution of your issue, or you pay nothing!
Error Recovery for Inventory [Canada]
E-Tech is the #1 Quickbooks data migration and Conversion service provider.
Additional Support Options: