View Financial Information

This page allows you to view the financial information for an adjustment transaction. Tell me more

Select “Financial Information” link” at the bottom of the “View Adjustment.” page.

The “View Financial Information” page appears.

The system displays the following:

Status	The status of the adjustment transaction.
Transaction No.	The number identifying the adjustment transaction.
Transaction Date	The date on which the transaction took place.
Warehouse Code	A unique code identifying the warehouse in which the items adjusted through stock correction are stored.
Warehouse Desc.	A textual description of the warehouse.
	Zoom facility available
Adjustment Type	The type of stock adjustment. The system displays one of the values, “General”, “PI Plan” or “CC Sheet Based”.
PI Plan No.	The number identifying the physical inventory plan.
Cycle Count Sheet No.	The number identifying the cyclic count sheet.

The system displays the following in the “Financial Information” multiline:

Item Code	A unique code identifying the item.
Variant Code	Variant Code of the item.
Item Variant Desc.	A textual description of the item/variant.
	Zoom facility available
Costing Method	The valuation method used to find the rate or value of item at an inventory location. The system lists any one of the following costing methods, “Standard Cost”, “LIFO” (Last In First Out), “FIFO” (First In First Out), “Weighted Average Rate” or “LFL”.
Lot No.	The number identifying the lot in the warehouse.
Adjustment Qty.	The number of units of the item to be adjusted. It is the difference between the system stock and the actual physical stock.
Adjustment Value Method	The method of specifying the adjustment value. The system displays the options, “Default”, “Specify Value”, and “Specific Receipts”.
Adjustment Value	The value of the item to be adjusted based on the adjustment value method selected.
Cost Center	The cost center to be credited for the items corrected as a result of the stock adjustment transaction.
Account Code	The account code to which the value of the item being received must be credited.
Analysis Code	The analysis code of the account to which the value of the item being received must be credited.
Sub Analysis Code	The sub analysis code of the analysis code to which the value of the item being received must be credited.

Check the box in the “Select” column of the multiline for viewing specific adjusted receipts.

To proceed, carry out the following

Select “View Specific Adjusted Receipts” link at the bottom of the page to select the receipt for viewing the adjusted quantity and value from the list of receipts.

View Financial Information – An Overview

Stock correction is an ongoing process in inventory management usually carried out when there is difference between the system and physical stock quantities. In case of positive adjustment, the rate is defaulted with the standard cost of the item. If the costing method is Wtd. Average/LIFO/FIFO, then the value entered by the user is taken as the new value. If the costing method is standard cost and if the rate at which the adjustment is made is more or less than the standard cost of the item, then difference in amount will be posted to the item variance account.

If the item is lot controlled, then either a new lot can be created or items can be added to the existing lot. If the costing method is LFL, value of the new lot will be considered if items are added to a newly created lot. Else, the weighted average of the existing and new lot item quantities would be considered.

If the costing method is LFL, the two ways in which value can be adjusted are specify requests and default. If the valuation method if LIFO/FIFO, the two methods of adjusting the stock value are specify default and value. For the default option in LIFO, the value and quantity will be taken from the latest receipts followed by the earlier receipts in chronological order. For FIFO costing, the value and quantity are taken from the earliest receipts followed by the later receipts in chronological order.

In case of zero quantity or value adjustments, quantity cannot be adjusted and only value of the stock or serial numbers of stock can be corrected. This type of adjustment cannot be done for standard cost items, as the value adjustment must be performed through standard cost revaluation for such items. For other costing methods, the same procedure as for negative adjustment is followed.

This page will be deployed only if at least one of the items is not having positive adjustment and the parameter “Allow modification of value during positive adjustment” is set as “Yes”. Also, the “Analysis/Sub Analysis Code applicable” parameter must be set as “Yes” and account codes mapped to analysis/sub analysis codes. Else, the system will not launch the page and an error message gets displayed.

If the adjustment value is positive, the stock account is to be debited and adjustment account is to be accredited. If the adjustment value is negative, the stock account is to be credited and adjustment account is to be debited.