If you had not previously used lot numbers, and you have on hand balances of items that you now want to track, follow this procedure.

  • Use inventory adjustments to bring the balance of the item to zero.
  • Set the item as Lot Numbered or Serialized
  • Receive the items to bring items back to the correct balance.

The above procedure will perform a journal entry for the 2 receipts but they will net to zero as long as the cost of the item does not change before doing the second receipt.

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