if an Inventory Adjustment was created to add a quantity of 10 with Est. Unit Cost of 30, the GL impact would be a debit to an Inventory Asset account and a credit to Adjustment Account of 300 each. Users may void the inventory adjustment above in Edit mode if Void Transactions Using Reversing Journals is disabled.
After voiding this adjustment, the Adjust Qty. By will be zero while Est. Unit Cost will still be 30. As a result, no GL impact will show.
The void button is only available on the following inventory-affecting transactions (in EDIT mode) when the “Void Transactions Using Reversing Journals” preference is disabled:
- Inventory Adjustment
- Inventory Worksheet
- Inventory Count
- Bin Putaway Worksheet
- Bin Transfer
- Inventory Transfer
- Transfer Order
For example, if an Inventory Adjustment was created with Adjust Qty. By of 10 and Est. Unit Cost 30, the GL impact would be a debit to an Inventory Asset account and a credit to Adjustment Account of 300 each. If the preference is enabled and the Void button is available, the system will create a journal entry to reverse the GL impact but the quantity and value of the item shown in the item record will still be the same. To avoid mismatches in quantity and values, Void button was not made available when the said preference is enabled.