How do I adjust inventory quantity?

To adjust the quantity of your inventory in QuickBooks Online, you typically use the inventory quantity adjustment feature. This allows you to increase or decrease the number of items on hand without recording a sale or purchase.

To adjust inventory quantity:

1. Go to the Settings (gear icon) and select Products and Services.
2. Find the inventory item you want to adjust. Select Edit from the Action column.
3. In the edit window, select Quantity Adjustment (usually found in the upper right corner).
4. Enter the Adjustment Date.
5. Select the Inventory Adjustment Account from the dropdown. This is usually an asset account or a specific Cost of Goods Sold account, depending on your accounting preference.
6. Enter the New Quantity. QuickBooks will automatically calculate the difference in the “Quantity Difference” column.
7. (Optional) Enter a reference number or memo to explain why the adjustment was made (e.g., “Damage,” “Theft,” or “Physical Count”).
8. Select Save and Close.

Note: If you need to adjust the value or cost of your inventory, rather than just the count, you may need to use an inventory value adjustment or revalue your inventory differently, as standard quantity adjustments focus on the item count.