How to correct unit cost. Invoice entered incorrectly.

I could use some assistance on making an adjustment in inventory management. There was an invoice entered incorrectly last month. The unit of measure was incorrect as entered which is causing issues in our unit price for the item. The previous month is already closed, so the adjustment will need to happen in the current. Any advice would be greatly appreciated.

  • 0

    What kind of invoice?  Purchase or sale?

    Purchase: how easy it is to correct depends on Valuation... and what really matters is the receipt of goods, not the invoice.

    Sale: again, how easy this is depends on Valuation and what version of Sage you are using.  (The current version helps with a new feature to do a credit with the original invoice's costs).

  • 0 in reply to Kevin M

    Thank you for your reply! It is a purchase. The item should be in the system with a Unit of Measure of "Each" representing an 18lb pail, unit cost $76.02. Instead it was entered in Lbs, resulting in a unit price of  $4.22. I need to correct the amount on hand and unit price. Then I would need to correct the incorrect amount charged to CoGS last month for usage.