Stock adjustments allow you to directly manage the stock on hand quantity and value of your products. It is an important administrative tool that ideally shouldn't be needed if purchases, material usage and sales are processed accurately in a timely manner. WorkGuru recommends that should stock adjustments only be available to a limited amount of staff in your organisation.
To add a stock adjustment, click Add Stock Adjustment from the Stock Adjustment Dashboard (Stock-> Stock Adjustments).
When prompted with a new stock adjustment, complete the following. You can move products in (Stock In) or out (Stock Out) on the same adjustment - such as an exchange etc.
- Name - Name of adjustment
- Reason - Why are you making this adjustment?
- Effective Date - Stock movement date for FIFO and Xero SOH journal.
- Warehouse - The location the stock will be adjusted. If you can't add a product, check you have a warehouse selected.
- Add Product- Adds a line to search for the product to be adjusted. Only FIFO products will display.
- SKU - Adjusted product code
- Name - Adjusted product name
- Description - Adjusted product description
- Quantity - The amount the product will be adjusted either up or down.
- Unit Cost - will prefill with the default product cost. Can be modified to change the value of the products being adjusted in or out.
- Direction- Pay close attention to which direction you are adjusting stock
- Stock Out (default) - decreases stock on hand quantity and stock value
- Stock In - increases stock on hand quantity and stock value.
Confirm you have set the direction correctly and click Save to save the stock adjustment
Once saved you can confirm the stock on hand values in the stock dashboard.