Entering records for inventory shrinkage

Over time inventory can be lost, misplaced, or used without any records having been made. After a physical inventory count, determine how much inventory has been lost to shrinkage. To maintain an accurate count in the inventory system, enter an adjustment to the quantity on hand for the affected items.

To enter a record for inventory shrinkage:

1. Open 12-2 Inventory Allocation.
2. In the Ticket# text box, enter the tag or ticket number/letters.
3. In the Date text box, enter the date of the transfer.
4. In the Status list, click the record status.
5. In the Description text box, enter a brief statement about the transaction.
6. In the grid, for each item:
   1. In the Part cell, enter the part number.
   2. In the Quantity cell, enter the quantity of parts.
   3. In the Cost cell, enter the cost of the part.
   4. In the Source cell, enter the location where the part is coming from.
   5. In the Account cell, enter the overhead expense account number.
   6. In the Subaccount cell, enter the subsidiary account you want.
7. Click File > Save.