Incoming_links Space USE
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
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Recognize stock adjustments
Definition
To record the identified stock discrepancies, create inventory adjustment documents. These stock discrepancies can be results of the inventory count and discrepancies detected during regular warehouse operations.
Use inventory count sheet data to automatically fill new inventory adjustment documents.
If you find inventory discrepancies during warehouse operations, create and fill manually inventory adjustment documents.
When you create inventory adjustment documents for a group of companies (centralized warehouse management), the actual and positive inventory of the company is monitored.
When it comes to inventory reclassification and quality change, goods receiving data are filled with the goods disposal data.
Once you create inventory adjustment documents, available inventory data are updated. These data show the physical available inventory.
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Paths
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| Path | Warehouse and delivery → Surplus, shortage, stock quality change → Inventory adjustments | ||
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How to check stock adjustments pending recognition
1. Go to Warehouse and delivery
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, then
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click Inventory
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adjustments under Surplus, shortage, stock quality change.
2.
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In the Inventory adjustments workplace, select the Warehouse, then click the To register → Reports hyperlink.
3. In the Unregistered surpluses and shortages of goodsreport,
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check the list of stock
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adjustments pending recognition in financial accounting.
How to
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recognize stock adjustments using a wizard
1.
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In the Inventory adjustments
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workplace, click Create → By using wizard.
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2. In
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the Inventory adjustment wizard workplace, on the Setuppage,
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specify the Physical inventory register
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period, the Inventory adjustment date
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5. Click Set filter to customize the selection.
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, click Next.
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3. On
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the Reclass stock or change quality page, select a line in the Stock shortage table
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, select a
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corresponding line in
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the Stock surplus
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table, click Process selected items
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, Specify the quantity
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.
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Click Reclass all stock and Process stock quality... to automatically reclass all matched lines. |
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4. Check data in the Stock reclasses and quality changes table
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below. Click Next.
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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. |
10. Click Next.
5. On the Assign company stock for adjustment page
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, click the Operation type, select the relevant operations.
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The following scenarios are available:
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12. Review the information in the Stock discrepancies pending company stock assignment table.
6. Select lines, click Company remaining goods report.
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In the Company stock balancereport,
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check the list of companies in columns that have the selected item in available stock.
15. Go back to the Assign company stock for adjustment page.
7. Select lines, click Assign company stock
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automatically, select a Company, click Ok. Click Next.
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Click Assign company stock automatically to assign company stock automatically to all lines.
You may define the priority for the list of companies. |
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If the item is identified in several companies' stock, the system will select the first specified in the order of priority. |
The system will automatically fill the Stock discrepancies assigned to company stock table with the inventory assigned to company stock.
18. Click Next.
The system will automatically create and fill all necessary inventory adjustment documents.
It is also possible to select the line, click Assign company stock manually, and select a Company. |
8. On
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the Review generated inventory adjustment documents page,
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check the list of created and posted inventory adjustment documents
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. 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.
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20. Open the document and fill the required fields if the document is not posted.
21. Select the documents, click Print and choose the necessary print forms.
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All necessary print forms shall be customized during the implementation project. |
How to change goods quality
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2. Click Create and choose the Stock quality change (by custom price) or Stock quality change (by cost) business transaction.
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The Stock quality change (by custom price) business transaction allows you to define a custom price for the inbound stock, which is different from the price of the outbound stock of the original quality. The Stock quality change (by cost) business transaction accepts inbound stock of a new quality at the same price as the outbound stock of the original quality. |
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4. Fill the Company, Business unit, Warehouse, Price type, Expense item, and Expense dimension fields.
5. Click the Stock tab.
6. Add a new line and fill all required fields: original Item, original Item variant, other quality Item, other quality Item variant, Quantity, and other.
7. Specify the Price field manually or click Fill in prices → by cost/price type depending on the business transaction.
How to reclass inventory
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2. Click Create and choose the Stock reclass business transaction.
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4. Fill the Company, Business unit, Warehouse, Price type.
5. Leave the Receive goods at writing off cost check box cleared.
6. Do one of the following:
- Specify the Expense item, Expense dimension, Income item, Income dimension fields to record cost differences of the reclassified goods.
- Select the Receive goods at writing off cost check box to avoid any differences in the cost of the reclassified goods.
7. Click the Stock tab.
8. Add a new line and fill all required fields: original Item, original Item variant, other Item, other Item variant, Quantity, and other.
9. Specify the Price manually or click Fill in prices → by cost/price type.
How to recognize inventory shortage
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2. Click Create and choose the Stock shortage recognition business transaction.
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4. Fill the Company, Warehouse, Price type, Expense item, and Expense dimension fields.
5. Click the Stock tab.
6. Add a new line and fill all required fields: Item, Item variant, Quantity, and other.
The Price will be defined within the cost calculation procedure.
How to recognize inventory surplus
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2. Click Create and choose the Stock surplus recognition business transaction.
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4. Fill the Company, Business unit, Warehouse, Price type, Income item and Income dimension fields.
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6. Add a new line and fill all required fields: Item, Item variant, Quantity, and other.
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