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mark-l

How to Adjust Inventory Cost from a Refund

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Posted By

I received a partial refund for some inventory I purchased (and paid for). The inventory is usable, but not as promised.  I do not want to adjust the number of units in inventory, I just want to have the reimbursement applied to adjust the cost per unit. What is the best process to accomplish this? 

Thanks!

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    SUGGESTED

    Sage does not allow any Item transaction for a Stock Item without a quantity. Since the Item is usable but not the same, you could set up another Item and then issue a Vendor Credit Memo for that new Item with the new cost. Then Receipt your dollar return using a Vendor ID. Then through Payments apply the Receipt against the Credit Memo to finalize the process.

    All that being said, you could do all of the above using the same Item ID. That would increase the item Qty at the lower cost, thus affecting that item's overall cost (depending on the costing type for this item) then do an Inventory Adjustment to remove 1 at the new adjusted cost.

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  • 0
    SUGGESTED

    Sage does not allow any Item transaction for a Stock Item without a quantity. Since the Item is usable but not the same, you could set up another Item and then issue a Vendor Credit Memo for that new Item with the new cost. Then Receipt your dollar return using a Vendor ID. Then through Payments apply the Receipt against the Credit Memo to finalize the process.

    All that being said, you could do all of the above using the same Item ID. That would increase the item Qty at the lower cost, thus affecting that item's overall cost (depending on the costing type for this item) then do an Inventory Adjustment to remove 1 at the new adjusted cost.

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