There are two ways to adjust Inventory value of an item without affecting its quantity:
Note: however that this only applies to Regular Inventory Item and not applicable to Lot and Serialised Items
1. Use Adjust Inventory Worksheet (Transactions > Inventory/Items > Adjust Inventory Worksheet)
---Use COGS or any other GL account as the Adjustment Account. The account should not be the same account as the one assigned on the item's asset account column under the accounting sub tab.
--- Select a location in the location field.
--- Under NEW QTY column for the item select the same value as in QTY AS OF DATE ABOVE column.
--- Under NEW VALUE column select the new value of the items ( unit cost times QTY).
*This is not advisable if your Costing Method is LIFO/FIFO and will not work if the inventory item is lot numbered or serial numbered.
2. Adjust the particular transaction where you want the value change to happen
---View Inventory Valuation Detail Report (Reports > Inventory/Items > Inventory Valuation > Detail)
---Hover your mouse to the Inventory item
---Click the transaction you want to adjust
--- Once the transaction record opens, Edit the amount/quantity.
*This is not advisable if the transaction you will be editing is posted in a closed period, since this will trigger COGS Recalculation
You need to ensure that you have proper permission to be able to access the worksheet and the related reports mentioned above.
To Access Adjust Inventory Worksheet:
1.Navigate to Setup > Users/Roles > Manage Roles > click Edit beside the Custom Role.
2.On the Permissions tab, Transactions subtab:
Add the Adjust Inventory Worksheet permission, Level should be at least Create.
3.Click Save.
To Access Inventory Valuation Detail Report
1.Navigate to Setup > Users/Roles > Manage Roles > click Edit beside the Custom Role.
2.On the Permissions tab, Reports subtab:
Add Inventory > View.
3.Click Save.
Note: The role should also have access to the Transaction record.