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Using TurboCASH

 







STOCK ADJUSTMENTS
INTRODUCTION TO STOCK ADJUSTMENTS
  
When trading in Stock Items, and you have an existing business, you first need to take on your closing stock quantities and values (prices) from your previous accounting system's records, unless you have converted your data from a previous version of TurboCASH or Pastel version 5.2. This is necessary before you start processing any transactions for your Stock Items.

Should you have started a new business, and start to use TurboCASH as your accounting system from the start, you first need to setup your Stock Items and process the purchases, before you can start selling Stock Items. In this case, you will not use the Stock Items Take-on Adjustments option.

It may happen from time to time that you have to do some adjustments regarding your Stock Items regarding the average and latest cost and quantities. To view more on each of these Stock Adjustments, click on the Adjustment Options on the Stock Item screen in this Help topic.

 

B> To adjust 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 Sock Item screen displaying all of the Adjustments Options and listing all your available Stock Items will be initiated.

Title bar - double-click to display this screen in full size. double-click again to return to the original size. Close button - click to close or exit this screen. Select to create, edit or delete a Stock Item. If selected, you may edit the data in the columns for each Stock Items. If selected, all the adjustments options are listed. Select, if not already selected to adjust Average and Latest Cost. Select to adjust Stock Quantities and Average Cost. Select to adjust Stock Quantity and Latest Cost. Select to adjust Selling Prices of Stock Items. Scroll bar - scroll to view more columns for the Stock Items. Scroll bar - scroll to view more Stock Items. Select this Option and click on the folder icon to select a valid Lotus Spreadsheet File. Enter or select a valid date using the Date Picker. Select to adjust Selling Prices by a specified percentage. Click OK to save your changes and to process this screen. Click to close or exit this screen. Select to apply the Selling Price Adjustment to all Stock Items. Arrow - indicates the selected Stock Item. The Codes for all the available Stock Items. The Descriptions for all the available Stock Items. The Average Cost for your Stock Items. Unit Cost - The cost price per Stock Item unit. Barcodes will be displayed if you use barcodes. The minimum level for Stock Items before you need to re-order. Quantity of Stock Items on hand. Click on the down arrow to select to take-on Opening Stock Quantities and Cost or to select a Stock Item on the Stock Item search facility. Minimise button - click to minimise this screen. Restore button - click to restore this screen to its original size.
Select the Adjustment Option. The screen will change to reflect the applicable fields for the selected adjustments.

The following is a brief description of the available adjustment options:

Option Description
Average and Latest Cost This option allows you to adjust either the average cost or the total cost of a particular line item. If you change the average cost, TurboCASH will change the total cost for you (depending on your quantity on hand), and if you change the total cost, TurboCASH will change the average cost.
Quantity and Average Cost This option allows you to change the quantity of stock on hand. The total cost price will remain unchanged, but the average cost price will be changed due to the change in quantity.
Quantity and Latest Cost This option allows you to change the quantity of stock on hand. The average cost price will remain unchanged, but the latest price will be changed due to the change in quantity.
Selling Price This option allows you to change the selling price of a range of stock items or a selected stock item by a percentage or change the selling price for a specific stock item.
Stock Take-on This option allows you to take-on stock before you begin trading. It is like entering your stock quantity opening balances.

It is very important that you either do a take-on of each of your stock items or that you enter a purchase for each item, before selling any stock. If you create an invoice for a stock item, before having done a stock take-on, TurboCASH will not know the item's cost price and will update your cost of sales with a zero amount. This will over-inflate your profits.