What’s the best way to deal with negative inventory? We have small quantities such as negative half kg for a couple of inventory items. Since this is immaterial, I want to get rid of this by taking this to other income P&L account. Any thoughts on how this can be achieved?
Inventory can be written off if you have less of an item by actual count than Manager reports. See Manager Cloud.
Upwards adjustments must be entered by journal entry. Debit Inventory on hand > Inventory item and credit a suitable income account.
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