abctax55
Level 15
12-06-2019
04:50 PM
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There should be no difference of "professional" opinion. The way QB works (or any accounting software) is to adjust purchases when inventory is adjusted. This is basic Accounting 101
If the "professional" picks up the already adjusted purchases number, then allows Lacerte to also do that adjustment by the math of the delta between beginning inventory and ending inventory.....well, that said "professional" should hang up their professional shingle.
I use "inventory delta" as a specific line item in the purchases area to track this adjustment.
"*******Tax software is no substitute for a professional tax preparer*******
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