Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

How do we adjust a difference in physical & system inventory?

user-image
Question added by haris siddique , ASST ADMIN & ACCOUNTS , ECCO-SPT FZ LLC
Date Posted: 2017/08/12
Esfandiar Asadollahi
by Esfandiar Asadollahi , Logistics expert , Renault

Periodically, the inventory should be physically counted to confirm how much is on hand. It is common for the physical count to show lower amounts than in the accounting records for reasons such as theft and inventory shrinkage. Depending on how records are kept in your accounting system, you will either need to adjust inventory numbers or inventory values. Each is done in a different way

More Questions Like This