Stock journal: transfer, production, consumption and adjustment

Record stock movements that are not sales or purchases: transfers between places, simple production, wastage or own use, and stock found or lost.

A stock journal records a stock movement that is not a sale or a purchase. There are four types: Transfer, Production, Consumption and Adjustment.

Before you start

• The products must exist in Products.
• For regular factory production with recipes, use Production entry instead. The Production type here is for a quick, one-off entry.

Steps

1. Open Accounting > Stock Journal.
2. Click the type you need at the top: Transfer, Production, Consumption or Adjustment. Hold the mouse over a type to see what it is for.
3. Set the Date.
4. Leave Journal No (auto) blank. The app gives the next number.
5. Type a Narration. For an Adjustment the box is called Reason (required) and must be filled.
6. Fill the lines for the type you chose (see the sections below).
7. Check the totals strip: Total IN qty, Total OUT qty, Total IN value and Total OUT value.
8. Click Save Stock Journal. A message shows the journal number it was saved as.

Click Reset to clear the form and start again.

Transfer stock between places

1. Choose Transfer.
2. Under Stock Transfer between locations, choose the product.
3. Type the Qty. The Rate (auto FIFO) fills in from your stock cost.
4. Type the From Location and the To Location, for example "Shop" and "Godown".
5. Save. The same product and quantity leave one place and arrive at the other.

If you have switched on location-wise stock, see Location-wise stock for transfers between godowns.

Record simple production

1. Choose Production.
2. Under Raw materials consumed, pick each raw material and its Qty. Click Add Raw for more lines. Rates fill in from your stock cost.
3. Under Finished goods produced, pick the finished product and its Qty. Click Add Finished for more.
4. The finished goods' Rate is suggested as total raw material value divided by finished quantity. You can change it.
5. Save.

Record wastage, own use or samples

1. Choose Consumption.
2. Under Items consumed (wastage / internal use), pick each product and its Qty. Click Add Line for more.
3. Save. The stock goes down; nothing comes in.

Record stock found or lost

1. Choose Adjustment.
2. Click Stock Found (+) for extra stock, or Stock Lost (−) for missing or damaged stock.
3. Pick the product and type the Qty and Rate. You can type a Location.
4. Type the reason in Reason (required), for example "Damaged in rain" or "Physical count 31 March".
5. Save.

When the IN value and OUT value are not equal (Production or Adjustment), the difference shows as Variance (posts to adj. account). It goes to your stock adjustment account.

Find, view or delete a journal

1. Scroll to Recent Stock Journals.
2. Filter by From and To dates, Type, or search by number or narration.
3. Turn on Show auto entries to also see the stock movements created by invoices, notes, challans and production.
4. Click a row to see its lines.
5. To delete a journal you made here, click Delete in that window, then OK. Its stock and accounting entries are reversed.

Opening stock entered on a product is saved as an Adjustment journal whose number starts with OPEN-. Delete it here if you need to delete that product.

Entries created by a sales invoice, purchase bill, credit note, debit note, delivery challan or production entry have no Delete button. To reverse them, cancel or edit that document.

Common problems

• Adjustment requires a narration (reason). — type the reason before saving.
• Transfer needs exactly one OUT and one IN line. / Transfer: From location is required. — a transfer is one product, one quantity, from one place to another. Fill both locations.
• Consumption cannot have IN lines (use Adjustment for stock found). — use Adjustment with Stock Found (+) for extra stock.
• Line 1: qty must be > 0. — type a quantity above zero on every line, or remove the empty line.
• Journal no '...' is already used by another stock journal in this business. Leave it blank to auto-number. — clear the Journal No (auto) box.
• ... was created automatically by ... and cannot be changed here — this entry belongs to a document. Change the document instead.

Related

• Product Register
• Products
• Production entry
• Location-wise stock
• Stock audit

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