I am trying to return an item, which inventory displays x22 on hand. I am trying to return this x22 in 'Purchases' to generate a credit/return however no matter how many times I try it comes up with an error message saying 'processing this purchase would leave the item with no items on hand and a non-zero value in inventory'. HELP!
Hi nicolehealey1 , without knowing what you have tried so far, my first suggestion is to make sure that the amount of the credit is the same as the current on hand stock value. This may not be the same as the original purchase value.
Hi Mike_James thanks for your reply! Yes the original purchase value was x72 but only x50 was received.
Hi nicolehealey1 , can you quote some more values:
There are 22 on hand, stock value is $???
So the purchase credit should be -22 at $??? (unit cost as per item information screen) = -(the same stock value).
Does this credit lead to the error message?
Mike_JamesYep - see attached. Thanks :)
Hi nicolehealey1 , thank you for these figures. Since you want to credit out all the remaining stock, and the supplier credit has to be -22 at $22.10 = -$486.20, then you are going to have to reduce the value of stock on hand (via an inventory adjustment) before you can record the credit.
The inventory adjustment should have:
NIL for the quantity
NIL for the unit cost
-$83.65 for the amount ($486.20 desired value less $569.85 existing value)
Use a cost of sales/expense GL code such as inventory adjustments (5-xxxx or 6-xxxx as you prefer).
After this correction, the on-hand stock will be valued at $486.20 and you can record the credit.
Mike_Jamesgreat thank you!! that worked :)
.png){kind=link}