What is on hand
Levels lists each counted product with what is on hand, its reorder level and where it sits. A row opens to its locations. Low is at or under the reorder level; Out is none; Negative is below zero on record, which means something was sold before it was received.
Where an online order is holding some of a product, the row and the location say how much is held for orders. It is part of what is on hand and still on the shelf; it is the amount that is not promised to another order.
Movements is every change, newest first: received, sold, returned, corrected, written off. A quantity is never typed over. It changes by a movement, with who and why.
Changing stock by hand
- Press Adjust stock.
- Choose what it is: opening stock, a correction after a count, or a write-off.
- Choose the store, find each product, and enter the quantity. For a correction, enter what was counted and the difference is worked out. Opening stock needs what one cost.
- Choose the reason. A write-off for something lost, stolen or used in the business also needs a few words.
- Record it.
For a product tracked by batch, a write-off may name the batch going out under Batch (optional). Choose the batch to write off one that has expired: left to the records, stock still in date goes first and a batch past its date after it. A product with serial numbers asks for the number of each unit under Serial numbers.
If a write-off limit is set under Retail setup › General, a write-off worth more is refused for anybody who does not approve exceptions, and the refusal says so. Somebody who approves exceptions records it themselves.
A correction here is for a product or two. On the Organizational and Enterprise editions a whole place is counted under Retail › Stock counts. Stock is moved between places under Retail › Transfers: inside a store on every edition, the damaged shelf back to the shop floor for example, and between stores on the larger editions.
What stock is worth
Stock is valued at its average cost across the company: each receipt at a new cost moves the average, and each sale leaves at the average of the day. The page shows the value of stock on hand beside the Retail inventory account in your books. The two are equal when every Retail entry has posted.
What reaches the books
| What you record | What is posted |
|---|---|
| Opening stock | Debit Retail inventory, credit the opening stock account (opening balance equity unless changed). |
| A count that found more | Debit Retail inventory, credit Stock count adjustments. |
| A count that found less | Debit Stock count adjustments, credit Retail inventory. |
| A write-off | Debit Stock losses and write-offs, credit Retail inventory. |