Hi everyone,

We have started a fresh in Jan1 2022 to Sage accounting with all opening balances from 2021.

When we entered the inventory opening balances total values of each item were entered correctly but the quantities were duplicated for some reason so the same correct total inventory value was divided into a bigger number resulting in half average cost for those which are wrong.

There is no transaction on any of these wrong quantity items and basically our TB and Income statement is totally correct because the total values are correct, but when I invoice obviously this brings half COGS and when I finish the physical stock, there will still be stock showing in the inventory.

My question is if I do an item adjustment by increasing the average cost by doubling and reducing the quantity by half, does it still affect the item adjustment account and post COGS on P&L?

i.e. total cost of an item is 1000 and opening quantity in hand was entered 4, so each item average cost is 250. Now if I adjust the quantity as 2 and average cost as 500, theoretically total inventory value will be the same, does this affect any other COGS and/or supplier balance accounts?

I don't want to register item adjustment COGS as our quantity in hand is correct and there is no theft/broken etc..adjustment, this is just to correct the system with correct average cost and quantity.

Thanks.

Cem