A stock adjustment modifies the quantity and value of your stock.
Depending upon your setup, you can perform quantitative Stock Adjustments from either the WMS or the main application, but not both.
- If you’re not using the WMS adjustments to the Stock Quantity are performed in the main application.
- If you’re using the WMS adjustments to the Stock Quantity are performed in Warehouse Management Console or the Barcode Scanner Application.
Modifications of value (accounting) and quantity (physical) can be done independently.
The stock adjustment changes the total quantity of SKUs ‘on hand’.
When you create a Stock Adjustment, the system will use the Average Cost if it’s available on the Item Master. If there is no Average Cost and previously recorded Stock for the Item being adjusted, the system will use the Unit Cost.
Optionally you can alter this derived cost value. See below.
Without WMS
If you do not have the WMS Installed, quantitative Stock Adjustments including changing the monetary value of the Stock can be made from either the Action on the Stock Item or the Stock List.
With WMS - from the WM Console
If you have the WMS installed, quantitative Stock Adjustments can ONLY be made from the WMS Console ‘Stock Actions’ Tab.
When you make a Stock Adjustment in the WMS console you alter the quantity. When you complete this action, a Stock Adjustment transaction is posted to the Stock Asset and relevant Profit and Loss account.
The Stock Adjustment from the WMS uses the Average Cost multiplied by the Quantity to calculate the Stock Value. If the Average Cost is not yet calculated, the formula will use the Unit Cost as set on the Item Master.
Once saved, you cannot edit the resulting Stock Adjustment in either the WMS or the main application. To subsequently change the stock value you’ll need to create another Stock adjustment from the Stock LIst in the main app.
.Stock Value
A checkbox on the Stock Adjustment screen ‘Edit Stock Values’ enables/disables your ability to edit the stock value.
The monetary value of the stock adjustment is calculated from the quantity of stock multiplied by the average cost. The average cost is stored on the Stock Item.
If you need to make a change to the calculated monetary value of the Stock you can do so by locating the Stock Adjustment. Remember to check the box ‘Edit Stock Values’ to allow editing.
To find a Stock Adjustment search the Stock Adjustments list, the Stock Asset account, or use the Find Transactions tool.
Stock Adjustment default Expense account is set in:
Setup>Configuration>Accounting>Accounts>Default Accounts ‘Stock Adjustment’.
Changing the Account to which the Expense is posted.
This default account appears on the Stock Adjustment. Users can change the ‘Account Mapping’ by editing the Stock Adjustment transaction.