Overview
An inventory adjustment would be processed to register any changes or differences among stock quantities in a given warehouse. The reason for such an adjustment could be to enter any variances of stock quantities based on the results of periodic stock taking. This functional section is used for that reason and also used to enter the opening balances of the existing stocks at the beginning of using the system.
This screen represents a transaction that affects the Inventory Items for a particular Warehouse based on differences in a stock taking process or due to a fortuitous event (accidental loss, damage, etc.). The reason for adjustments is to keep the consistency between the 'physical' and the 'on books' Inventory.
Navigation
Inventories ► Inventory Adjustment
Inventory Adjustment screen Fields and Tab
Field | Description |
ID | A unique value that is automatically generated by the system. |
| Fiscal Year | Fiscal Year when this voucher is created. Automatically assigned by the system with current fiscal year. If user has access to post transactions to prior periods, system will allow user to post a transaction to prior fiscal year (never to future fiscal year) as long as the selected fiscal year is not fully closed. |
| Fiscal Period | Fiscal Period when this voucher was created. Automatically assigned by the system with the current fiscal period. If user has access to post transactions to prior periods, system will allow user to post a transaction to prior period (never to future periods) as long as the selected period belongs to the fiscal year mentioned above and also it is closed for regular transactions (not fully closed) |
| Workflow Status | Workflow Status of the Inventory Adjustment. |
| Origin | Origin of the Inventory Adjustment. Possible values are: MANUAL (default), when user creates the adjustment on the entity DATA IMPORT, when user creates the adjustment using data import tool INVENTORY COUNT REQUEST, when system creates the adjustment automatically from an inventory count reques. This attribute is automatically populated by the system. |
Is Automatic Adjustment | For viewing purposes only. If selected, Automatic Adjustment specifies if this transaction has been issued automatically by a process, or if NOT selected, inventory adjustment has been entered manually by a user. |
Effective Date | Effective date applicable for this transaction. |
Warehouse | It represents the physical warehouse where the item is stored. |
| Journal Voucher | Automatically populated by the system when Inventory adjustment creates a Journal voucher |
Employee | Name of the person that is the intervenient in this transaction. |
Inventory Item Count Request | Contains the general information for the Inventory Item Count. |
Adjustment Type | Choose from either "Initial Inventory" or "Quantity. |
Language | Country Specific Language used to register reason. |
Reason | A brief reason for this transaction. |
Inventory Adjustment Item Tab | Information on the Inventory Item used in the adjustment. |
Overview
Field | Description |
ID | Automatically or manually generated unique identification code, depending on parameter setup. |
Inventory Item | Field represents the Inventory Item to be adjusted |
New Quantity on Hand | Change in quantity for the Item. |
Quantity Charge | Difference between values (calculated automatically). |
Unit Cost | Cost per unit prior to adjustment. |
New Unit Cost | Cost per unit after adjustment. |
Value Change | Difference between values (calculated automatically). |
Inventory Adjustment Item Perisable Lots Tab | A collection of zero or more quantities to be adjusted on one or more Perishable Lots. Detailed information for the Perishable Lot of the inventory item being adjusted. |
Overview
A collection of zero or more quantities to be adjusted on one or more Perishable Lots. Detailed information for the Perishable Lot of the inventory item being adjusted.
Inventory Adjustment Item Perishable Lots Tab Fields
Field | Description |
Code | Unique, system generated code that serves as the identifier for the perishable lot. |
Production Date | The date on which the perishable lot was produced. |
Expiration Date | The date on which the perishable lot is expected to expire. |
Quantity on Hand | The amount of items ‘on hand’, encompassing the lot. |
Received Quantity | The quantity received. |
Language | Country Specific Language used to register remarks. |
Remarks | Any details on the inventory adjustment. |
Manufacturer Lot Id | The identification of the manufacturer’s lot. |