Inventory Adjustments can be used to modify the value and/or quantity of stock in your business.
Some examples are:
- Damage
- Revaluation
- Stolen Goods
- Writing off stock
- Stocktake results
To add an inventory adjustment
- Click Items >> Inventory Adjustments.
- Click the plus icon or Add link in the Inventory Adjustments screen.
- Enter the Quantity and Item Code for the item you wish to adjust
- Under Category, choose an Account. This will often be an expense account or a cost of sales account that indicates the accounting treatment for the loss of value
- Enter the Unit Price to calculate the total amount for the line item. If you are trying to adjust the quantity on hand but the value has not changed then this may actually be zero.
- Add more Inventory Adjustment line items as required until you have all the adjustments you need.
- Save and close the transaction
Inventory Adjustments Screen
This screen lists all your Inventory Adjustment transactions. Use the filters to reduce the list displayed. Alternatively you can add or delete Inventory Adjustments transactions using the links at the top of the displayed list.
The Accounting
When you perform an inventory adjustment Saasu takes care of the accounting including completing the journal entry. In the Inventory Adjustment screen the quantity field adjusts the Asset account (eg: Asset: Stock) and the category field adjusts the expense or cost of sales account (eg: Expense: Stock) so there is no further action required.
