Hello - Is it possible to make inventory adjustments against balance sheets? Accounting is asking for this...
a
Andrew Cohen
06/02/2022, 8:33 PM
could you elaborate a bit more? Inventory accounts are balance sheet accounts, therefor adjusting inventory + or - would impact your balance sheet
j
JC
06/02/2022, 9:01 PM
I'd like to elaborate more but I'm not familiar with this request
JC
06/02/2022, 9:01 PM
They are getting that error when trying to do this
a
Andrew Cohen
06/02/2022, 9:04 PM
That's because they're trying to offset the adjustment to the same account. The offset should go to an income statement account under Cost of Goods Sold
j
JC
06/02/2022, 9:12 PM
Thank you. The error does say that, not sure why they couldn't understand