Chapter 7 Cost Adjustment Transaction

CHAPTER 07.01 STOCK ADJUSTMENT

This is to make adjustment to stock quantity and value.

a) Go to Stock – Stock Adjustment

b) Click on New to Create a New Stock Adjustment

c) (i) Create a Stock Adjustment for Package

c) (ii) Create a Stock Adjustment for Value

c) (iii) Create a Stock Adjustment for Quantity & Value

Question:
Do I have to key in the value when I creating a Stock Adjustment Reduce? Can I just key in the quantity reduced?

Answer:
When doing Stock Adjustment Reduce by quantity, it does not matter whether you specified the stock value because the system will obtain the unit cost in accordance to the item’s costing method.

However when doing Stock Adjustment Increase by quantity, you must specify the stock value so that the costing will be correctly updated.

CHAPTER 07.02 STOCK ISSUE

This is to record the issuance of stock item (that was taken out from store/warehouse) for any reason other than sales. Eg:Sample,Testing, sponsor etc

a) Go to Stock – Stock Issue

b) Create new stock issue

c) Create a Stock Issue as sample to send out

CHAPTER 07.03 STOCK RECEIVE

This is to record the receiving of stock item (that was received into store/warehouse) for any reason other than purchase.

a) Go to Stock – Stock Receive

b) Create new Stock Receive

c) Create a Stock Received from supplier for food testing purpose

CHAPTER 07.04 STOCK WRITTEN OFF

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

The cost of the items that are written off will be shared by other stock (remaining stock)…. and thus Stock Write Off is only used for stock items that are using costing method of Weighted Average.

It is not suitable for items with other costing methods such as Fixed Cost, Most Recent Cost, LIFO, FIFO….

a) Go to Stock – Stock Write-Off

b) Create new Stock Write-Off

c) Stock Write-Off

1. Home: You may go to Home menu to Copy From/To a new Stock Write Off.

2. Edit: You may go to Edit menu to copy/paste the whole document or highlighted details to/from clipboard; you may also save the entries to K.I.V. folder.

3. Stock Write Off No: <<New>> means to follow auto-running numbering (maintained at Document Numbering Format Maintenance), and the next possible number is displayed at the top bar of the window. You may click on it to key in any number you like.

4. Description: this is the document description.

5. Ref. Doc. No: key in the related reference document number if any

6. Date: system date is automatically captured, you may click to change.

7. Proceed New Stock Write Off: when this is checked, a fresh screen will be ready for new entries upon Save; if unchecked will exit the transaction screen upon Save.

CHAPTER 07.05 STOCK UPDATE COST

Update the Standard Cost and Real Cost, either by key in a new cost or use Auto Update Item Cost.
Compare to directly change the standard cost at Stock Item Maintenance, this Stock Update Cost can update the standard cost for several items at one go, and can be saved as historical record.

a) Go to Stock – Stock Update Cost

b) Create new Stock Update Cost