Stock adjustments are crucial for businesses, especially when dealing with damaged goods, stocktakes, or discrepancies in inventory. With OptyERP, managing stock adjustments becomes a streamlined process. This guide will walk you through how to effectively use the Stock Adjustment feature in OptyERP to keep your inventory accurate and up-to-date. Whether you're dealing with damaged stock, recovering losses, or updating your Profit & Loss reports, OptyERP makes it simple and efficient.

What is Stock Adjustment?

Stock Adjustment is the process of manually updating your inventory to reflect changes such as damaged goods, discrepancies, or losses discovered during stocktaking. With OptyERP, you can easily decrease the quantity of goods in stock while keeping your records accurate.

Why is it important?
Businesses often face situations like damaged stock, theft, or even misplacement, which can lead to inventory discrepancies. Stock adjustments allow you to account for these issues, ensuring your reports are accurate and that your business remains efficient.

How to Use the Stock Adjustment Feature in OptyERP

OptyERP simplifies stock adjustment by making it a step-by-step process. Here’s how you can perform a stock adjustment in just a few clicks:

1. Add Stock Adjustment

Start by navigating to the “Add Stock Adjustment” section in OptyERP. This is where you’ll begin the process of adjusting your inventory levels.

2. Select the Business Location and Date

Choose the specific business location where the adjustment will apply and set the correct date for the adjustment. Keeping these details accurate ensures your reports and records reflect the changes correctly.

3. Select Adjustment Type: Normal or Abnormal

OptyERP allows you to classify stock adjustments into two categories:

• Normal Adjustment: Used for standard reasons like leakages, minor damages, or wastage.
• Abnormal Adjustment: Used for more significant losses like fire damage, accidents, or major theft.

Selecting the right adjustment type helps in organizing and categorizing stock adjustments properly.

4. Add Products and Quantities

Enter the specific products and the quantity that needs to be deducted. This helps ensure that your inventory reflects the actual stock levels.

5. Enter Total Amount Recovered (If Any)

Sometimes, even after stock is damaged or lost, a business can recover some value, such as through insurance claims or selling scrap material. Enter the amount recovered here. If there’s no recovery, you can enter “0”.

How does this impact your reports?
The recovered amount is factored into your Profit & Loss (P&L) reports. It reduces the overall loss by adding the recovered amount to the profits, providing a clearer picture of your financial health.

6. Review Stock Adjustment Report

After completing the stock adjustment, you can review the details in the “Stock Adjustment Report”. This report provides a summary of all adjustments made, helping you track changes and maintain transparency in your inventory records.

7. Profit & Loss (P&L) Impact

The total stock adjustment amount is deducted from your Profit & Loss Report, while the recovered stock amount is added to your profits. This ensures that your financial reports reflect the true state of your business.

Show/Hide Price During Stock Adjustment

In some cases, you might not want certain users (e.g., warehouse staff) to see product prices while performing stock adjustments. OptyERP allows you to hide prices from specific users by following these steps:

1. Go to User Management > Roles.
2. Select the role of the user, such as Warehouse Worker, and click Edit.
3. Under the Product Section, uncheck the View Purchase Price box. Once disabled, users assigned to this role won’t be able to view product prices while making stock adjustments.

This feature enhances control over sensitive data while ensuring that only authorized users have access to crucial financial information.

Correcting Stock Mismatches with OptyERP

Stock mismatches can happen due to various reasons—manual database updates, system errors, or even human mistakes. OptyERP provides a built-in solution to easily correct these discrepancies.

Common Errors

• Mismatch between sold and purchased quantity: This happens when the quantity sold does not match what was recorded as purchased.
• Mismatch in stock reports: Stock shown in the sales screen might be different from what’s in the stock report.

Solution 1: Using Stock Details Report

1. Go to the Product Stock Details page on OptyERP’s reporting module.
2. Select the business location and press Search.
3. Review the list of mismatched products and click Fix for each product.

Solution 2: Using Product Stock History

1. Go to List Products > Actions > Product Stock History.
2. Select the business location and product variation where the mismatch occurred.
3. The system will automatically fix the mismatch issue for that location.

Conclusion

Mastering stock adjustment in OptyERP is essential for maintaining inventory accuracy and streamlining business operations. Whether you're handling damaged stock, making adjustments after stocktakes, or correcting stock mismatches, OptyERP makes the process seamless and easy to manage.

Want to see how OptyERP can transform your inventory management?
👉 Request a demo today at www.optyerp.com.