Adjustment Journals

Inventory and Purchasing

Adjustment journals are used to record changes to both the stock on hand and inventory cost price for products that have been damaged stock, received as bonus stock or need to be returned to the vendor for a specific reason.

Create an adjustment journal

  1. From the Fred NXT Head Office Area page, navigate to Inventory and Purchasing and click Inventory adjustment.

  2. Click New to create a new adjustment journal.

  3. From the Name column heading select the adjustment journal Reason Code.
  4. In the Store Inventory tab, select the Warehouse to the store the adjustment is to be made against.

    Once the Warehouse is selected, the Site field is automatically set. This, in turn, automatically populates all products that are added to the adjustment journal. There is no need to store details each time you add a line product to the adjustment journal.

  5. Click Lines to open the form to add products to the adjustment journal.
  6. In the Item number column, enter the item number.
  7. In the QTY field, enter the value to be either added or subtracted.

    If you have 3 units of bonus stock from the vendor, enter 3. In the case of damaged stock, enter a negative value -3.

  8. Enter the cost price in the Cost column.

    For bonus stock, the Cost is $0.00. For damaged stock, enter the price that you paid for the product.

    The Cost value is used to calculate an average inventory price based on what you have received over time for the products you currently have stock on hand for.

  9. Repeat this process for all other products you would like to add to the counting journal.
  10. Click Post to finalise the adjustment journal.

    The SOH and the inventory cost for this product is updated.

  11. Click Close.

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