Inventory adjustment means modifying the quantity or the price of the items that are available in your business. There are various reasons why the stock needs to be adjusted in a retail store, such as when goods are stolen, damaged, or written off, or due to an inventory revaluation or stocktaking results.
Damage due to fire, or stolen goods will result in reduction in the stock quantity that is available at the store.
Stocktaking is the process of manually counting the quantity of items. The results are compared with the records present in the system. Once stocktaking is completed, there are chances for the quantity of items to increase or decrease.
Creating Inventory Adjustments
There are two ways to adjust the inventory in Zakya.
- Adjust the inventory manually
- Import data
Adjust the inventory manually
The quantity or the price of the items can be modified from the Adjustments module in Inventory Management.
To adjust inventory
- Go to Inventory > Adjustments.
- Click + New.
- Select the Mode of Adjustment.
- To adjust Quantity, do the following:
- Select Quality Adjustment.
- Specify the Date, Account, and Reference Number.
- Specify a Reason from the drop-down list.
You can click Manage Reasons to add new reasons to the drop-down list. You can also mark a reason as inactive or delete it.
- Enter the New Quantity on Hand.
You can see the number of items available in the Quality Available field. The Quantity Adjusted will be calculated automatically.
- To adjust the value, do the following:
- Select Value Adjustment.
- Specify the Date, Account, and Reference Number.
Specify a Reason from the drop-down list. - Enter the Changed Value.
You can see the Current Value of the item. The Adjusted value will be calculated automatically.
- Click + Add another line to add another item.
- To add items in bulk, do the following:
- Click the drop-down next to + Add another line button and select + Add items in Bulk.
- Select the items from the left and specify the quantity of each item.
- Click Add Items.
- Click Save as Draft if more changes are expected to be made.
- Click Convert to Adjusted to adjust the stock.
Edit Adjustments
Changes can be made to the adjustments by clicking the edit icon in the details page. The mode of the adjustment can't be edited after it's been chosen.
Delete Adjustments
If there are any errors in the inventory adjustment created, you can simply delete it. Once the adjustments are deleted, the original stock value will be retained. For example, the quantity of an item available before the adjustment was 200 and later the new quantity is updated to 250. When the adjustment is deleted, the quantity of the item will go back to 200. To delete an adjustment, select a record from the Adjustments module and click Delete.
Filter and sort records
The inventory adjustments can be filtered based on the type (quantity or value) and period (time when the inventory was adjusted) from the drop-down list. Further, the records can be sorted based on date and reason for adjustment. You can click the up and down arrow in the column header to sort the records based on ascending or descending order respectively.