Reconcile Stock

Overview

This enables a user to verify whether the physical count and calculated stock values are the same or not.

Steps

• Click on the Stock Reconciliation card on the home screen.

• Input the Warehouse and select the product from the dropdown. The following details are available:

  • Date of Reconciliation

  • Received Stock

  • Issued Stock

  • Returned Stock

  • Damaged Stock

  • Stock Lost

  • Stock on Hand- The stock on hand is calculated as incoming stock minus outgoing stock. There is a hint icon for how the stock on hand is calculated. The received and returned stocks will be considered incoming stocks. The issued, damaged, and lost stocks will be considered outgoing stocks.

The date of reconciliation is system-generated and non-editable. Other values are calculated based on the data recorded in stock receipts, stock issued, and the stock returned screens. In the manual stock count, the user needs to enter the value for manually counted inventory. If the stock on hand does not match the physical count, then the latter must take precedence, provided the user has submitted the form with a proper reason. In the comments field, the user can add remarks and comments.