The Stock Adjustment module in Flovix allows businesses to correct inventory discrepancies, update quantities, and manage stock values in real-time. This tool is crucial for accurate accounting, inventory control, and operational efficiency, ensuring that warehouse data reflects the actual stock on hand.
Step-by-Step Guide to Create a Stock Adjustment:
Access Stock Adjustment Module
Go to Inventory in the Flovix.
Click Stock Adjustment from the Flovix dashboard.
Select Warehouse
Choose the warehouse where the stock adjustment will be applied.
Choose Adjustment Account
Select the Adjustment Account to record the financial impact of the change.
Assign Cost Center
Assign the adjustment to the relevant department or project for tracking purposes.
Enter Adjustment Date
Select the date when the stock adjustment is taking place.
Add New Item
Click Add New Item and select the Item Code from inventory.
Select the Batch if applicable.
Enter the New Quantity, New Price, and New Value.
Verify the Old Price and Old Value for reference.
Add Memo (Optional)
Include notes for clarification, such as reason for adjustment or reference documents.
Review Subtotal and Total Amount
Ensure all adjustments are correct before saving.
Save Stock Adjustment
Click Save to update the stock records.
The adjustment will reflect in both inventory and accounting reports.
Key Features:
Inventory Corrections – Adjust stock quantities and values for discrepancies.
Warehouse Selection – Choose the warehouse where the adjustment applies.
Adjustment Account – Specify the account for financial impact of adjustments.
Cost Center Allocation – Assign adjustments to a specific department or project.
Batch & Item Tracking – Track changes by batch and item code.
Price & Value Update – Update old and new prices and total values for accuracy.
Memo Field – Add notes or explanations for each adjustment.
Benefits of Using Stock Adjustment in Flovix:
Accurate Inventory Records – Maintain correct stock levels and values.
Financial Accuracy – Adjustments are automatically reflected in accounting records.
Operational Efficiency – Quickly correct discrepancies to avoid delays in production or sales.
Audit Compliance – Keep detailed records of stock adjustments for internal and external audits.
Batch Tracking – Monitor batch-specific changes for traceability.
Departmental Accountability – Assign adjustments to cost centers for better reporting.
The Stock Adjustment module in Flovix is an essential tool for businesses to maintain accurate inventory, streamline accounting, and improve operational control.