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Add Stock Adjustments

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Points to Note

Add a Stock Adjustment

Accounting Integrations

Stock Adjustment Tutorial Videos

A Stock Adjustment is a transaction you can complete to update the current stock on hand quantity of a product, for any number of reasons such as write-offs, stock takes, donations etc. You can also adjust the value of a product with a Stock Adjustments, for more details, see How to conduct a value-only adjustment.

Points to Note

  • Stock Adjustments are predominantly designed to take immediate effect, but you can save them in Parked status if they're a transaction in progress. Just note, if a product's been added to a Parked Stock Adjustment, any changes to the product's Average Landed Cost will not update in the Stock Adjustment's Value field. 
  • Stock Adjustments do not count towards a product's Allocated Quantity

Add a Stock Adjustment

There are three different ways to create a new Stock Adjustment in Unleashed:

  1. Select Add Adjustment from the Stock Adjustments page in the Inventory, Transactions menu.
    • A blank Stock Adjustment is created.
  2. In the View Products page, use the Action Cog along the product's line to select Adjust.
    • A Stock Adjustment is created with the selected product pre-populated.
  3. In a product record, use the Product drop-down button to select Create Adjustment
    • A Stock Adjustment is created with the selected product pre-populated.

Once the Stock Adjustment's been created, follow the below steps to action it and update your product's Stock on Hand and/or value;

  1. In the new Stock Adjustment select the Warehouse your stock will be adjusted for, a Reason for the adjustment and if integrated with an accounting software an Account the adjustment will be made to. 

    • Warehouse: This is the warehouse that the stock you are adjusting is in. If you only have the one warehouse then this should be defaulted for you.
    • Reason: This is the adjustment reason you associate with this stock adjustment. For more details on creating and managing the available reasons, see Adjustment Reasons.
    • Account: When you have an accounting provider integrated, this account field becomes available and can be used to create a journal in your accounting provider. For example, a wastage account.
      This account defaults to the Cost of Goods Sold account that you have configured in your integrated accounting provider's configuration page.

  1. Add the Product, Quantity and Value you are adjusting, selecting Add once all the fields are filled in:

    • Product: This is the product you are adding the adjustment line for. If you cannot find it by typing in the code or description, try using the magnifying glass icon to search for the product.
    • Quantity: This is the total quantity that you are adjusting by. You can increase it (e.g. 5) or decrease it by typing a minus before the number (e.g. -5).
    • Value: This value will automatically default to the adjustment quantity times your Average Landed Cost (ALC), however you can also override this to change it, but make sure to advise the total value that needs to be adjusted. You can also enter a value-only stock adjustment by entering 0 quantity, if you only want to adjust the product's ALC. 
    • Available: The Available field is not an editable field, but advises how many units are available in the product's stock on hand, in the selected Warehouse. 
    • Comments: If there are any specific product details needing to be recorded for the adjustment, add them to the adjustment line's Comment field.
      Tip: When you enter a quantity of 1, the value is per unit. It is taken from the Average Landed Cost for that product; i.e. $2.00. If a quantity of 10 is entered then the value shows as a total for all 10 items at $20.00. When a quantity and value is entered, then view it in the 'Global Values' section; this shows what effect that line has on the overall Quantity, Value and Average Landed Cost of the product.

  2. After adding all the stock adjustment lines, you will be able to see them listed in a grid, showing the affect the adjustment will have on your Warehouse and Global Stock on Hand quantities and values. Check the Global Quantity, Value and Average Landed Costs that have been calculated for the Adjustment, whilst it's in Parked status. This provides an opportunity to edit the Quantity and Value given for the product, before completing. 

    • Click on the Qty or Value field of the added product to edit each detail. Just note that updating the Qty will not automatically recalculate the Value field to match.
    • Use the bin icon on the far right of the adjustment line to remove it from the Stock Adjustment.

  3. Underneath the adjustment lines grid, you will see the Total Adjusted Quantity and Total Adjusted Value.
    • Total Adjusted Quantity: The total cumulative number of units being adjusted within your Stock on Hand. 
    • Total Adjusted Value: The total cumulative value that is being adjusted against your total stock value. If integrated with an accounting provider, the Total Adjusted Value will be the value that's exported within the journal, once the adjustment is complete.

  4. If all Products, Quantity and Values are correct for the adjustment's requirements, select Complete in the top right of the Stock Adjustment. The Stock on Hand quantity and/or stock value of your adjusted products will then be updated. 

Accounting Integrations

If your adjustment includes value, it will automatically send an adjustment journal to your integrated accounting provider for approval. For Xero users, Journals show in Xero as nil value Accounts Payable drafts and should be Approved regularly. This would keep the drafts list clear and helps to ensure your Balance Sheet, and Profit and Loss, stay accurate.

Ensure that your accounting provider is setup for Stock on Hand and Cost of Goods Sold. Also ensure it is up-to-date and correct. You will need to change the account for the stock movement to the relevant account if the Cost of Goods Sold account is not appropriate.

Stock Adjustment Tutorial Videos

 

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