Page History: Adjust Transfers Examples and Process
Compare Page Revisions
Page Revision: 05/03/2011 10:20 AM
Shipment is correct receiver is wrong.
Transfers in transit
is the account to use in adjust transfers effect on hand.
Use when receiving was in error, do not effect inv and receiving store must do adjustment and book to transfers in transit.
If GL journal created then do not effect inventory use transfer in transit and store must still adjust but book to inventory asset.
Shipment incorrect, receiver correct. Receiver never to manually adjust. Sending store will need to effect inv with adjust transfer using inventory asset assuming they have not all ready adjusted manually
If they did all ready correct on hands then book the adjust transfer without effecting inventory and choose inventory adjustment as GL account.
If not effecting inventory or inventory was lost do not effect inventory and select inventory adjustment as account.
If GL journal all ready created then effect inv and book to transfers in transit if inventory was still in error (if manual adjustments all ready made, same account but do not effect on hand.)
Always look at one at a time if GL has separate accounts for each store location. Then the GL account selected in all scenarios must match the store GL account.
Any time above scenarios