Problem:
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How to write off an excessive amount occurred because of Inventory Write
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Off done by Average Cost
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?
Solution:
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Add the reversal entry for excessive expense and register correction for the inventory
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as shown.
1) . Item has excessive amount - 267,823.99 AED occurred because of inventory write off:
The reason of this mismatch is the purchase of Inventory Write off
2) the item by different prices:
And then it was written off by Average Cost Price (since the Inventory Write Off document automatically picking the average cost price from purchase documents):
Later, the part of the items was returned to the supplier (by purchase price) so the excessive amount has occurred on item's balance:
2. Check the transactions for Inventory Write offOff: 
3) . Enter reversal Other Expense document for the same GL Accounts: 
4)
See also 7.5.4. Other Expenses
4. Check Inventory and Expense Register in the Inentory Inventory Write off Off for the same Item: 
5) . Enter register correction for the above as Receipt: 
fill as shown below and save Register Correction:
| Period |
|---|
| # |
|---|
| Activity |
|---|
| Register records type |
|---|
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:
Thank you for being a FirstBIT customer!