Financial Exchange: Adjustment Memos

Overview | Inventory Adjustments Overview

Basic

Point of Sale adjustment memos are sent to QuickBooks financial software as General Journal transactions. A single journal entry is made for the aggregate inventory adjustments for each day. The journal entry typically will show an adjustment to the Inventory Asset account and a balancing entry in the POS Inventory Adjustment account.

Many activities in Point of Sale result in the creation of adjustment memos, and thus a general journal transaction in QuickBooks, including:

- Manually editing an items average unit cost or on-hand quantity

- Updating a physical inventory with changes in on-hand quantities

- Deleting an item with an on-hand quantity

- (Pro) Building or breaking assembly items

To learn more:

- Read the overview: How QuickBooks handles Point of Sale data

- You can view the specific document created In QuickBooks for an adjustment memo via a link in your Point of Sale adjustment history list.

- Read about various ways to customize Financial Exchange