Contents

Stock Adjustments

Caroline Buckland Updated by Caroline Buckland

A Stock Adjustment provides a means by which alterations can be made to stock levels in order to reconcile discrepancies between the level of stock recorded on the system and that physically in the store.  This Adjustment can be either positive or negative.

A positive Stock Adjustment may be created in order to bring stock into the store.  A price is required to be entered, unless the ‘zero price’ flag is set, which means the price field defaults to zero.

 A negative Stock Adjustment is created to reduce the stock in store; no price is required to be entered.  If store controls has ‘mandatory reason’ flag set then a valid reason code must be entered which describes why the stock level is being reduced in the store.

In Financials from the Main Menu go to – Inventory Management – IM Processes – IM Data Entry and select either the Create Stock Adjustment In (to increase the quantity in stock) or Create Stock Adjustment Out (to reduce the quantity in stock).

For the purposes of this example, we will process a Stock Adjustment Out

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 adjusted, 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 Adjustment 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 the More button followed by Movement>Details.

Select the Lines tab.

Enter the Item and the Quantity being adjusted, 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 Adjustment Control Account.

Enter the Quantity to be adjusted.

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

Was this article useful?

Stock Disposal

Contact