Inventory Quantity Reconciliation

Usually at year end a physical inventory is performed and then reconciled with SME. Any adjustments required should be understood, however SME provides an inventory reconcile tool.

• NOTE* If you are tracking inventory quantities in QuickBooks, any adjustments made to SME inventory using reconciliation will also need to be made in QuickBooks inventory. Only invoices from SME automatically deplete inventory in QuickBooks. Only POs or Bills from SME automatically increase inventory in QuickBooks.

To adjust inventory quantities in SME based on your physical count:

1. Go to Inventory module and select the item you need to adjust.

2. Copy the Item Number.

NOTE – If your Item Names are unique, you can use that and substitute Name for Number for the remainder of the procedure.

3. Go to Utilities > Utilities (1)

4. Select Inventory. (2)

5. Select Inventory Reconciliation (3) and click Run It (4).

The Inventory Reconciliation window will open listing all of your inventory items.

6. Click in the Number column header and select (Custom..).

7. In the Custom Filter window, enter the Item Number in the field circled in the image below.

8. Click OK.

Notice the inventory list filtered down to the item you need to adjust.

9. Click on the inventory item row (1 in image below). The editing window will expand.

10. Click to expand the warehouse locations. (2)

11. Enter the accurate inventory count in the Physical Count'Bold text' column (3).

12. Check the box in the Accept column.

13. Click Post Changes (4).

14. Click Yes to message in Information window.

15. When the screen clears, click Close. The quantities will be adjusted.