Overview
Stock adjustments registered during warehouse operations, such as physical inventory counts or instant stock adjustments without inventory counts, require recognition in financial accounting.
Periodically, the company analyzes registered stock adjustments, finds out each cases, the reasons for the deviations, determines the stock owner company, evaluates the goods, determines the guilty party, makes decisions about the financial consequences for the company. All such decisions must be documented according to enterprise policy.
Depending on the decisions made, stock adjustments are recognized in financial accounting as profit and loss items in the current period.
At the next step, the cost of goods is evaluated. Cost evaluation is especially important in cases of stock reclassification or stock quality changes. For simplification purposes, data on the cost of goods can be filled in with data from disposed goods.
As a result of the process, stock adjustments are correctly recognized in financial accounting.
Video guide
Recognize stock adjustments flowchart
Paths
| Path | Warehouse and delivery → Surplus, shortage, stock quality change → Inventory adjustments |
|---|---|
| In-app link EN code |
e1cib/command/DataProcessor.WarehouseGoodsIssueReceipt.Command.WarehouseActs
|
| In-app link RU code |
e1cib/command/Обработка.ЖурналСкладскихАктов.Команда.ОткрытьФормуСпискаСкладскихАктов
|
How to check stock adjustments pending recognition
1. Go to Warehouse and delivery, then click Inventory adjustments under Surplus, shortage, stock quality change.
2. In the Inventory adjustments workplace, select the Warehouse, then click the To register → Reports hyperlink.
3. In the Unregistered surpluses and shortages of goods report, check the list of stock adjustments pending recognition in financial accounting.
How to recognize stock adjustments using a wizard
1. In the Inventory adjustments workplace, click Create → By using wizard.
2. In the Inventory adjustment wizard workplace, on the Setup page, specify the Physical inventory register period, the Inventory adjustment date, click Next.
3. On the Reclass stock or change quality page, select a line in the Stock shortage table, select a corresponding line in the Stock surplus table, click Process selected items, Specify the quantity.
Note
Click Reclass all stock and Process stock quality... to automatically reclass all matched lines.
4. Check data in the Stock reclasses and quality changes table below. Click Next.
Note
You can reclass stock only for goods with a common unit of measure as during the offset the quantity of outbound and inbound goods is the same.
You cannot make a stock reclass transaction for items that have different VAT rates.
The stock quality change transaction is made only for the goods that have different quality attributes.
5. On the Assign company stock for adjustment page, click the Operation type, select the relevant operations.
Note
The following scenarios are available:
- Select the Stock quality change in the Operation type to process the data related to changes in quality and generate the Stock quality change document.
- Select the Stock reclass in the Operation type to process the data related to item reclassification and generate the Stock reclass documents.
- Select the Stock shortage in the Operation type to process the data related to inventory shortages and generate the Stock shortage recognition documents.
- Select the Stock surplus in the Operation type to process the data related to inventory surplus and generate the Stock surplus recognition documents.
6. Select lines, click Company remaining goods report. In the Company stock balance report, check the list of companies in columns that have the selected item in available stock.
7. Select lines, click Assign company stock automatically, select a Company, click Ok. Click Next.
Note
You may define the priority for the list of companies. If the item is identified in several companies' stock, the system will select the first specified in the order of priority.
It is also possible to select the line, click Assign company stock manually, and select a Company.
8. On the Review generated inventory adjustment documents page, check the list of created and posted inventory adjustment documents. Open the stock adjustment recognition document.
How to define prices for reclassification and quality change
1. In the stock adjustment recognition document, click Main tab, check if valuation option requires different valuation for goods. Maintain default expense item or income item relevant to the stock adjustments recognition, then select relevant Dimension.
2. Click Advanced settings tab, select Currency, fill in the Cause for stock adjustment.
3. Click the Goods tab, fill in Price column. Post the document.