Setup Example – Stock Adjustments
- Stock Adjustments are made when a stock count is performed and the counted numbers differ from the system numbers.
- The system number is calculated by summing all the stock movements from transactions.
💡This page provides an example of a Transaction Type setup for Stock Adjustment transactions.
In this example, stock variances are posted to the ledger.
Header
- Description: Stock Adjustments
- Code: STK ADJ
- Entities: All
Settings (tab)
- This section lists the compulsory and optional settings that can be used to customise Stock Adjustment transactions.
- Settings with Default as part of the name can be changed when capturing a transaction.
- In this example:
- Stock variances are posted to the ledger to record any stock losses or gains. Stock on Hand is credited and Stock Losses / -Gains is debited for a stock loss, and the other way round for a stock gain.
- Stock is posted to Stock on Hand and not split between departments or categories (e.g. Raw Materials and Finished Goods).
- To choose the stock account, add the setting Credit Account Filter (Enter string contained in Accounts > Lookup) and enter a string that is common to all stock accounts. For example, name the accounts Stock: Raw Materials and Stock: Finished Goods, and enter Stock as the Credit Account Filter.
- On each entry, enter the Count. BOS works out the Qty as Count − In Stock, and then the prices. On an entry with a batch number, the batch balance is read again when you change the batch number, the entry’s location or the transaction date, or select Actions > Update In Stock Qty.
- If there are typically stock shortages, Stock Losses / -Gains should be an expense account. If there are typically stock gains (e.g. offcuts are returned to stock but not recorded until a stock count is done), Stock Losses / -Gains should be an income account.
| Setting | Description | Value | When Required |
|---|---|---|---|
| Accounting > Credit Type | Select from a dropdown list of account types. The options are:
| Ledger | If you want to post stock adjustments to the ledger. |
| Accounting > Debit Type | Select from a dropdown list of account types. The options are:
| Ledger | If you want to post stock adjustments to the ledger. |
| Accounting > Default – Credit Account | Select a default account from the dropdown list. | Stock on Hand | If you want to post stock adjustments to the ledger. |
| Accounting > Default – Debit Account | Select a default account from the dropdown list. | Stock Losses / -Gains | If you want to post stock adjustments to the ledger. |
| Accounting > Enable Accounting | A checkbox. If checked, accounting is enabled. If unchecked, transactions are created in the module and not posted to the ledger. | Check the box. | If you want to post stock adjustments to the ledger. |
| Accounting > Pricing | Select a pricing option from the dropdown list:
Stock Price prices each entry at the Stock Price of the entry’s location on the transaction date (the cost price when there is no Stock Price), so the adjustment is valued at the stock value. See Item Prices Explained. | Cost Price | Always. Select Stock Price instead if you use the General Setting Inventory > Auto Update Stock Price (Weighted Average), or want adjustments valued at the Stock Price. A positive adjustment at the current Stock Price does not change the weighted average. |
| Defaults > Default – Data Filter | The default filter when you view a list of transactions for the Transaction Type. The options are:
| Select an option from the dropdown list. | The default filter is:
|
| General > Add Items from the following Categories | Limits the items that can be added to those in the selected categories. Click Edit in the Value column and select the categories. | Click Edit. Move the categories from the Available to the Selected section to include them. Move the categories from the Selected to the Available section to exclude them. | If you want to limit the items that can be added. |
| General > Enable Entities | Select an option from the dropdown list:
| Branch | If you want to allocate stock adjustments to a branch. |
| General > Enable Staff | Select how transactions are assigned:
| Select the applicable option from the dropdown list. | If you want to allocate the transaction to a staff member. |
| General > Reference Lookup | Enter Reference lookup lists. | Click the Value column and enter the lookup entries, one per line. Check the Auto Height box to show the full lookup list. | If you want staff to select a reference from a lookup list instead of entering one. |
| Inventory > Default – Inventory Location (Transactions) | Select a default inventory location for the Transaction Type. (Inventory locations are created under Entities.) | Select a location from the dropdown list. | If you want to specify a default location. |
| Inventory > Enable Stock Adjustment | Checkbox. If checked, features for stock adjustments are activated. | Check the box. | Always for stock adjustment transactions. |
| Inventory > Enable Tracking | Select a tracking option from the dropdown list. Stock Adjustment Transaction Types can use Batches or no tracking only. Serial Numbers or Serial Number (Unchecked) shows the Transaction Setup error Stock Adjustment can not use Serial Number tracking, use Batches or no tracking (also in the transaction’s warning bar). With Batches, the Batch No. and Expiry Date columns appear on the entries:
See Inventory Tracking. | Batches | If you want to count and adjust stock by batch. |
| Mobile > Enable in Mobile App | Checkbox. If checked, the transaction can be accessed from the mobile app. | Check the box. | If you want to manage the transactions from the mobile app. |
| Transaction Items > Enable Adding Items | Specify which type of items can be added to a transaction. The options are:
All the buttons to add items still appear. A disabled feature shows an error message when clicked. | Items | Always (Custom items are not tracked as inventory items.) |
Statuses (tab)
- You may create an unlimited number of statuses.
- However, there are only four Status Groups:
- Pending
- Active
- Complete
- Cancelled
- The first status should allow editing.
- The final status should ideally not allow editing.
- If the setting Accounting > Enable Accounting is checked, at least one status should have the Accounting column checked.
- If inventory is used, at least one status should have the Inventory column checked.
- If editing is allowed when the inventory or accounting columns are checked, any accounting or inventory reports should be considered provisional.
Categories (tab)
- Use categories to sort records.
- The categories you choose should be meaningful to your business.
- Using categories is optional but recommended.
- Categories can be copied from another Transaction Type. The existing categories are replaced by the copied categories.
This example has no categories. If you want to sort your Stock Adjustments (e.g. by reason, such as stock count, damage, theft or expired stock), create your own categories. See Transaction Categories Tutorials.
Copy Rules (tab)
- Copy Rules determine when transactions may be copied.
- Although two transactions are involved in the copy, you only need to create one Copy Rule.
- User access must be set for each Copy Rule.
- You can automate copying transactions by selecting a Trigger status.
Output Templates (tab)
- Output Templates are the forms you need to print, preview or email a transaction (e.g. invoices).
- Default templates are included. They automatically show your company name, logo and bank details, as filled in on the Output tab of a registered entity.
- You may edit these templates to include or exclude information.
- You may also create your own forms and templates from scratch.
