You can create manual inventory movements from the Inventory adjustments menu option under Inventory > Inventory books > Inventory adjustments.
This option can be used to enter your initial stock or create adjustments to the stock already situated within the system.
Your initial inventory/opening balances can be entered via this option, you can see how this achieved by taking a look at the Initial Inventory article.
To create an adjustment, for example, to write off certain items that maybe lost, damaged or obsolete you can create an inventory by clicking on New adjustment:-
Enter your details...
Type - select which type of adjustment
Product no. - select the product number
Location - if you have created locations you can select the location
Quantity - enter the number if units prefixed with - (minus) if you are removing stock from the system, if you are adding stock leave as a positive number
Currency - your base currency will appear, you can change this
The entry screen will also show you the unit price which cannot be changed along with the current quantity held
Save or save and new to continue
Once saved your draft can be edited and is ready to be booked.
To book the entry, select the row by ticking the box to the left and click Book adjustment, a popup box will appear:-
Booking date - this is the date the entry is booked into the system
Booking text - enter easily identifiable text for future reference
Additional text - this is optional
Obsolete inventory - here you enter the account code you are charging the adjustment to, this can be an account already created in your default chart of accounts, or you can create a new one specifically for stock write offs.
Click ok to book
The item can then be viewed within the product ledgercard to confirm the reduction in stock...
You can also check the stock account within the balance sheet to see the amount being removed and the account you charged the write off to within your P & L accounts...
