What is Inventory Adjustment?
Inventory adjustment refers to the process of making changes to the recorded quantities of items or products in a company's inventory. These adjustments are made to ensure that the inventory records accurately reflect the actual physical count of items on hand
Why do we need Inventory Adjustment?
Inventory Control: Inventory adjustments help businesses identify and address issues such as shrinkage (loss due to theft, damage, or obsolescence) and discrepancies between recorded and actual inventory levels. This control over inventory can lead to better decision-making in terms of purchasing, pricing, and production planning.
Financial Decision-Making: Accurate inventory data is vital for making informed decisions related to ordering, pricing, and overall inventory management. It ensures that businesses have the right amount of inventory on hand to meet customer demand without tying up unnecessary capital.
Auditing and Accountability: Accurate inventory records are essential for internal and external audits. Auditors rely on these records to verify the financial position of a company and the accuracy of its financial statements.
How should we do it with Magestore Retail Management Software?
1. In-progress list
1.1. How to manage the Inventory Adjustment that is in-progress by the In-progress list
There will be a list of In-progress list after you access the Inventory Adjustment sub-menu. In this list, you can see all the inventory adjustments in the current source that is in progress, and you can also see some important information related to the adjustment such as the created date of the adjustment, the person who created the adjustment or the total SKU which is adjusted in the adjustment,…
In addition, you can click on View button to see the adjustment details.
1.2. How to create a new Inventory Adjustment?
To create a new inventory adjusment, you can click on the New Inventory Adjustment button. After that, you will be redirected to the Adjustment details, and it will be empty like this below picture.
1.3. How to add products to the Adjustment details
There are 3 ways to add products to the Adjustment details:
Click on the Add Product button to add selected products
Scan the product barcode
Import the CSV file
1.3.1. Add products by using the Add Product manually function
In the Inventory Adjustment details, you can click on the Add Product button to redirect to the Add product to Inventory Adjustment page
On this page, you must select the products that you want to adjust, then you need to click on the Add Selected Products button to add products to the details page successfully.
1.3.2. Add products by scanning the product barcode
To add the product to the details page, you can use the scanner to scan the product barcode
1.3.2. Add products by importing the CSV file
If you already have a plan or you have multiple products to add, you can use the importing function to add products to the details faster. After clicking on the Import button, a popup like the below picture will show.
After the popup shows, you only need to upload the CSV file that has the structure column like the below picture to continue the importing.
1.4. How to edit the Adjust Qty and New Qty of the product?
