STEPS TO CORRECT THE SOLD ASSET ACCOUNT

In the example below, the item quantity field was modified to 0 and increased back to 1.  When this happens the purchase line detail updates this item as sold and an adjustment is made in the sold asset report.   The user’s attempt to correct the quantity adjustment does not solve the problem as it only creates a new purchase line for $0.00 and the sold asset report remains the same. 

The following steps will balance the adjustment in the Sold Asset report:

1.      Increase the quantity to 2

2.      Double-click the price column to update the Sold = Qty for all purchase lines except the top one

(the user will need to have an owner level password to modify this field)

3.      In the top purchase line, set the adjusted amount in the price column as a negative value as seen below

4.      Decrease the quantity back to 1

5.      All purchase lines will show as sold, so they will need to be zeroed out as seen below

STEPS TO CORRECT THE COGS ACCOUNT

In the example below, the item quantity field was decreased by 3 and an adjustment for $90 is made in the COGS account (History>Cost of Goods Sold).  

The following steps will balance the adjustment for the COGS account:

1.      Increase the quantity by 1

2.      Double-click the price column to update the Sold = Qty for all purchase lines except the top one

(the user will need to have an owner level password to modify this field)

3.      In the top purchase line, set the adjusted amount in the price column as a negative value as seen below

4.      Decrease the quantity by 1

5.      The purchase lines will show all quantities as sold, so they will need to be corrected to be consistent with the quantity on hand