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Stock Disposal

Caroline Buckland Updated by Caroline Buckland

The Process

Inventory Management provides a means of disposing of stock quantity in a store where the stock is redundant, damaged or surplus to requirements.  The account that acts as default when raising a Stock Disposal is used to record such disposals.

In Financials from the Main Menu go to – Inventory Management – IM Processes – IM Data Entry and select the Create Stock Disposal option 

The following screen will be displayed, if your Purchasing User has the Usual Store field populated it will default into this screen, otherwise you will need to enter the Store that is disposing the stock.

Select the Save action, and this will default entries into the Movement Reference and Element fields, and you will prompt to enter a Reason Code to explain why the stock is being disposed.

You can click on the Search icon next to the Reason Code field to see available reasons.

Select the Reason and select OK button to return to the Stock Disposal header, select the Save button again and this will remove the previous message and leave the error that at least one line must be entered.

Select Lines.

Enter the Item and the Quantity being disposed, you can use the Search icon and start typing the Item Code or the Item name to find the Item.

Once you have found the correct Item, tick the selection button next to the Item Description.

Then select OK to return to the lines.

Click the Save option, this will default in the QUOM (Quantity Unit of Measure for the Item, and the Price will display the Average Cost (provided there is Stock in Store).

GL details will default into the Stock Disposal Control Account.

Enter the Quantity to be disposed.

Select Save to update, at which point you will return to the Main Menu and be advised that a Movement Reference has been created.

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