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- Count Inventory
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- ÀáNote:Àá Before taking inventory, you may want to print an Inventory Count Sheet
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- Report. It’s a helpful form for writing down your inventory quantities.
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- ÀáThe Items ListÀá
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- Listed are all items in your item inventory. If an item is not listed and should
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- be, go to Items List, select the item and check 'I Inventory this Item.'
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- ÀáOn HandÀá
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- This is the number of inventory units M.Y.O.B. thinks you have.
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- ÀáNote:Àá The quantity is in inventory units, not buying or selling units (see the
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- Help for Items List). Say, for example, you buy soda by the six-pack and
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- inventory it by the single can. When you see a quantity of 24, you have 24 cans
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- in inventory.
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- ÀáCountedÀá
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- After counting your physical inventory, enter the quantity counted here.
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- ÀáNote:Àá The quantity is in inventory units, not buying or selling units. Say, for
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- example, you buy soda by the six-pack and inventory it by the single can. When
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- you see a quantity of 24, you have 24 cans in inventory.
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- ÀáDifferenceÀá
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- This is the On Hand quantity minus the Counted quantity.
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- ÀáDefault Account for Inventory AdjustmentsÀá
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- If your count disagrees with M.Y.O.B.'s records, you should adjust your M.Y.O.B.
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- inventory to reflect the real world.
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- Click Adjust Inventory to Reflect Count and M.Y.O.B. fills out the inventory
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- adjustment transaction for you. M.Y.O.B. enters for you as much of the
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- transaction as it can. Enter a default account before clicking Adjust Inventory to
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- Reflect Count (usually an expense account like 'shrinkage') and M.Y.O.B. can
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- better complete the transaction. As always, you may change the adjusting
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- transaction before recording it.
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- You are not required to enter a default account. If you don’t, you must enter an
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- account for each item in the Inventory Adjustments window.
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- ÀáNote:Àá Be sure to record any inventory transfers (see Inventory Transfers
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- earlier in the chapter) before counting your inventory. This avoids accidentally
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- expensing missing inventory that was really used to build another item.
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- ÀáAdjust Inventory to Reflect CountÀá
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- If your count disagrees with M.Y.O.B.'s records, you should adjust your M.Y.O.B.
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- inventory to reflect the real world.
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- M.Y.O.B. helps reconcile your counted quantity with your on-hand quantity. Click
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- Adjust Inventory to Reflect Count to zoom to Inventory Adjustments. M.Y.O.B.
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- enters for you as much of the transaction as it can.
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- ÀáNote:Àá Be sure to record any inventory transfers before counting your inventory.
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- This avoids accidentally expensing missing inventory that was really used to
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- build another item.
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