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Inventory Adjustment

Inventory adjustment refers to the process of modifying the quantity or value of inventory items recorded in an organization's inventory management system to reflect the actual physical inventory levels or the financial value of the inventory.

What is Inventory Adjustment?

Inventory adjustment refers to the process of modifying the quantity or value of inventory items recorded in an organization's inventory management system to reflect the actual physical inventory levels or the financial value of the inventory. Inventory adjustments are typically made to correct discrepancies between the quantities or values of inventory items as recorded in the system and the actual counts or values observed through physical inventory counts, inspections, or other inventory audits. Within NetSuite, inventory adjustment is possible through a native SuiteApp like ZoneBilling.

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Inventory Adjustment

What is Inventory Adjustment?

Inventory adjustment refers to the process of modifying the quantity or value of inventory items recorded in an organization's inventory management system to reflect the actual physical inventory levels or the financial value of the inventory. Inventory adjustments are typically made to correct discrepancies between the quantities or values of inventory items as recorded in the system and the actual counts or values observed through physical inventory counts, inspections, or other inventory audits. Within NetSuite, inventory adjustment is possible through a native SuiteApp like ZoneBilling.

Related terms

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Data mining is the process of uncovering patterns and extracting valuable information from large sets of data. It's like sifting through a gold mine of information to find hidden gems of insights.
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Extract, Transform, Load (ETL)
Extract, Transform, Load (ETL) is a fundamental process in financial data management. It refers to the steps involved in collecting financial data from various sources, preparing it for analysis, and storing it in a central location for easy access and reporting.
HR & Operations
ERP
ERP stands for Enterprise Resource Planning. It's a type of software system that businesses use to manage and integrate essential parts of their operations. An ERP system functions as a central hub for data and processes, aiming to streamline information flow, improve efficiency, and provide a unified view of core business activities.
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Timesheets
Timesheets are documents used by organizations to track and record the amount of time employees spend on various tasks, projects, or activities during a specific period, typically a week or a month.