At the end of the financial year, (on 28/29 February), a
physical count of our stock items (stock-taking) was done and it was found that
only 10 items (drill presses) valued a R(£) 5 000 (10 items at R(£) 500 each)
was on hand in the stores.
To Adjust the Stock Items:
Click on the Input - Adjust Stock menu option or press the and keys on your keyboard. Alternatively you may press the and and
keys on your keyboard. The Stock Item
(Adjustments tab) screen will be displayed.
Select the Quantity and Latest Cost or the Quantity and
Average Cost option (depending on whether you have selected to use Latest or
Average Cost of Sales in the Setup - System Parameters - Stock Information menu
Select the Date on which you need to adjust the stock
quantities. This would in this case be the last day of the financial year (28/29
Click on the button to save your changes.
Click on the button or the Close button to close or exit this screen. You may also press the key on
your keyboard to close or exit this screen.
Generate the Stock Item Listing Report to check
that the adjustments and totals are reflected correctly. The Stock Item Report
should reflect the correct adjusted total or R(£) 5 000 in this