Stock Adjustment Module
The Stock Adjustment module in Flovix enables businesses to correct inventory discrepancies, update stock quantities, and adjust inventory values in real time. It is an essential tool for maintaining accurate inventory records, ensuring precise financial reporting, and improving overall warehouse efficiency. By using this module, businesses can ensure that the inventory recorded in the system accurately reflects the actual stock available.
Step-by-Step Guide to Create a Stock Adjustment
1. Access the Stock Adjustment Module
Navigate to the Inventory module in Flovix.
Click Stock Adjustment from the dashboard.
2. Select the Warehouse
Choose the warehouse where the stock adjustment will be applied.
3. Select the Adjustment Account
Choose the appropriate Adjustment Account to record the financial impact of the stock adjustment.
4. Assign a Cost Center
Select the relevant Cost Center to allocate the adjustment to a specific department, branch, or project for reporting purposes.
5. Enter the Adjustment Date
Select the date on which the stock adjustment is being performed.
6. Add New Items
- Click Add New Item and complete the following details:
- Select the Item Code from the inventory list.
- Select the Batch Number, if applicable.
- Enter the New Quantity.
- Enter the New Price.
- Review the Old Price and Old Value for comparison.
- Verify the New Value before proceeding.
7. Add a Memo (Optional)
Enter a memo to provide additional information, such as the reason for the adjustment, damaged stock, physical stock count differences, expired items, or any supporting reference documents.
8. Review the Adjustment
Carefully review the Subtotal, Total Amount, and all entered information to ensure the adjustment is accurate.
9. Save the Stock Adjustment
Click Save to complete the transaction.
Once saved, the inventory records will be updated immediately, and the adjustment will automatically be reflected in both inventory and accounting reports.
Key Features
- Inventory Corrections – Correct discrepancies in stock quantities and inventory values.
- Warehouse Selection – Apply stock adjustments to a specific warehouse.
- Adjustment Account – Record the financial impact of inventory adjustments.
- Cost Center Allocation – Assign adjustments to departments, branches, or projects for accurate reporting.
- Batch & Item Tracking – Track inventory adjustments by item code and batch number.
- Price & Value Updates – Update unit prices and inventory values while maintaining accurate records.
- Memo Support – Add notes or explanations for future reference and audit purposes.
Benefits of Using Stock Adjustment in Flovix
- Accurate Inventory Records – Ensure stock quantities and inventory values accurately reflect physical inventory.
- Improved Financial Accuracy – Automatically update accounting records with every stock adjustment.
- Enhanced Operational Efficiency – Quickly resolve inventory discrepancies and maintain smooth warehouse operations.
- Audit Compliance – Maintain detailed adjustment records for internal controls and external audits.
- Batch Traceability – Monitor batch-specific inventory changes for complete product traceability.
- Departmental Accountability – Allocate inventory adjustments to cost centers for better financial analysis and reporting.
Conclusion
The Stock Adjustment module in Flovix is a powerful inventory management tool that helps businesses maintain accurate stock records, improve financial accuracy, and streamline warehouse operations. By enabling real-time inventory corrections and automatic accounting updates, Flovix ensures better inventory control, enhanced operational efficiency, and reliable audit compliance.