To adjust quantity-on hand and sales amount information

1 On the Inventory Maintenance Main menu, click Transaction Entry.

2 At the Transaction Type field, select Sales. Click the Lines tab.

3 At the Item No. field, enter the item number.

4 At the Quantity field, enter the number of items returned as a negative quantity.

5 At the Unit Price/Cost field, enter a positive sales price.

6 Click Accept. The extended sales amount is calculated as a negative number. The cost of goods sold is calculated as a normal sales transaction. For LIFO/FIFO items, the quantity returned is added to the first cost tier.

NOTE If the original sales entry was entered using the Sales Order module, you must enter the return as a credit memo using the Sales Order module. This enables inventory quantities to be adjusted at the same time.