Problem: I have excessive amount occurred because of Inventory Write off done by Average Cost, how can I fix it?
Solution: The reversal entry for excessive expense and register correction for the inventory should be done.
1) . Item has excessive amount - 267,823.99 occurred because of Inventory Write off off:
The item was purchased by different prices:
And then it was written off by Average Cost Price (since the Inventory Write off automatically picking the average cost price): 
but later on the part of the items were returned to the supplier (by Purchase price):
That's why the excessive amount has occurred o item's balance.
2) . Check the transactions for Inventory Write off: 
3) . Enter reversal Other Expense document for the same : 
4) . Check Inventory and Expense Register in the Inentory Write off for the same Item:
5) . Enter register correction for the above as Receipt: 
fill as below and save:
| Period |
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| # |
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| Activity |
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| Register records type |
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Entity |
|---|
Warehouse / Department / Company |
|---|
GL Account | GL Account |
|---|
| Item |
|---|
| Batch | Quantity | Amount |
|---|
| Corr. Structural Unit | Corr. GL Account | Corr. GL Account | Corr. Item | Corr. Batch | Corr. Order | Specification | Corr. Specification | Order Sales | Sales Document |
|---|
| Sales Department |
|---|
| Responsible | VAT Rate | Fixed Cost |
|---|
| Production Expenses |
|---|
| Return |
|---|
| Return Type | Content of Transaction | Business Activity Sales | Expense Item | Corr. Expense Item | Cost Of Goods Sold GL Account | Project | Project Task | Sales Item | ||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31/12/2021 00:00:00 | 1 | Yes | Receipt | AMISTAD OILFIELD ENGINEERING SERVICES LLC | AMISTAD OFES _ ACT SITE OFFICE | Goods | SS Plate-A240 GR.304L-12000X2000X6.00 | 267,823.99 | Inventory Write Off AM0021-00000108 dated 04/11/2021 00:00:00 | AMISTAD OFES _ ACT SITE OFFICE | No | No | No | SS Plate-A240 GR.304L-12000X2000X6.00 |
6) . Check the statements and reports: The register correction fixes the negative values-:
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