how to do inventory adjustments without GL impact?
# inventory
m
how to do inventory adjustments without GL impact?
l
If it increases your inventory, you can assign a 0 cost. Effectively, no GL impact. If it reduces your inventory, I highly doubt it's possible to remove the GL impact unless the inventory value of the on hand is currently at 0 which is unlikely and absurd. You can create a JE to reverse the GL impact though. However, why would you do that? Is there a valid reason?
m
for our netsuite account, we imported all our journal entries since beginning (5-yr old company). Hence, inventory adjustments will duplicate prior entries in inventories.
we didn't use the beginning balance approach for setting up netsuite
p
Same approach as open AR/AP should work here. Post the CR offset of the inventory adjustment to a wedge account and then post a JE that DR that account and CR inventory to address the double entry from your historical JE.
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