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Comments
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Back to confused...if I JE a credit to Inventory Asset for the initial debit, and debit Opening Balance. The Inventory Adjustment is only for the difference between the initial item cost and the new item cost. So, it leaves a balance in my Opening Balance: JE: Opening Balance $26,204.67 DR Inventory Asset $26,204.67 CR IA:…
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I think I just answered my own question...in the JE I should take care of the difference...
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We had 30 of the item I'm doing now. 6 were used last year so only 24 remain on hand. Do I only take out these remaining 24 and add back 24 at the inflated cost? If so, how is the difference accounted for with the the 6 that came out at the lower price?
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Example 1 additional question...with the inventory adjustment, the 1200 Inventory Asset account now has the $34,000 in there twice (2 debits). Do I do a JE to credit 1200 and debit COGS?
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I can't even figure out how to change my Sales Order (adjust column width, remove a column). When I go to Customization/Forms/Advanced PDF/HTML Templates and choose the Sales Order, it doesn't even show the same columns that print out!
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We are trying to get a PO out today and the Vendor information is not printing on the PO. It says "Vendor" in bold, but then the information is not there.