Chapter 7 – Stock Adjustment Transaction

Chapter 7.4 – Stock Written Off

Stock write-off means to reduce the quantity of stock that are damaged, expired, or obsolete.

The cost of the written-off items will be shared by other stock. Thus, stock write-off is only used for stock items that use the weighted average costing method.

It is not suitable for items with other costing methods such as fixed cost, most recent cost, LIFO, and FIFO.

1. To access Stock Write-Off, go to Stock > Stock Write-Off.

2. Click New to create a new stock write-off.

3. Image below shows the function in New Stock Wrtite-Off.

1. Home: Can copy from or to a new stock write-off.

2. Edit: Can copy and paste the whole document or highlighted details to and from the clipboard. You can also save the entries to the K.I.V. folder.

3. Stock Write-Off No.: <<New>> means to follow the auto-running numbering maintained in the Document Numbering Format Maintenance window. The next possible number is displayed at the top bar of the window. You can click to change.

4. Description: this is the document description.

5. Reference Document No.: Enter the related reference document number, if applicable.

6. Date: System date is automatically captured. You can click to change.

7. Proceed New Stock Write-Off: If you check this box, a new screen will be ready for new entries after you save. If you don’t check this box, the transaction screen will close after you save.