Adjusting Stock and Managing Stock Adjustments

Derek Torres
Derek Torres
  • Updated

Important Note: PartsLedger is now PartsManager. PartsManager retains all of the parts purchasing and warehouse management automation benefits of its predecessor. To read more about this exciting change, click here.

 

The Stock Summary Page allows you to view and manage your Stock across all of your Warehouses. Here you can adjust your stock.

This article will walk users through manually adjusting stock and managing your Stock Adjustments.

Prerequisites

  • Must be an Admin User in PartsManager, formerly known as PartsLedger.
  • Must have more than one Warehouse in PartsManager

How to Manually Adjust Stock

  1. On the Navigation Bar, click Inventory, then click Stock.
  2. Clicking the + Adjust Button to open the Adjust Stock Menu. You can use this to manually add or remove Stock from the inventory of a specific Warehouse.
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  3. Enter all required fields on the Adjust Stock Menu. See below for field definitions.
    Field Name
    Field Definition
    Date Select the date the stock adjustment is made and is preset to today’s date.
    Posted Date Select the date the adjustment will be posted to the inventory sub-ledger. This will also be preset to today’s date.
    Item Select the item that you want to adjust.
    Warehouse Select the warehouse where you want to adjust the selected item's stock
    Adjustment Ledger Account Select the Parts Ledger Account that you want this adjustment recorded to.
    Quantity

    Enter the amount you want to adjust the stock by. You can enter a negative or positive value.

    • If you enter a Negative value, Unit Price and Currency will not be required.
    • If you enter a Positive value, Unit Price and Currency will be required.
    Unit Price Enter the Per Unit Price the Item was received at.
    Currency Select the currency type the price field uses. This is likely USD.
    Description

    Enter the reason you are making this adjustment

    Screen_Shot_2022-09-12_at_12.26.59_PM.png
  4. Click the Submit button.

Managing Stock Adjustments

Many actions we take in PartsManager will result in a stock adjustment. This section will cover how you can manage these stock adjustments.

Click the following link to learn about the different Stock Adjustment Types.

  1. On the Navigation Bar, click Inventory, then click Stock.
  2. Click the Stock Adjustment Tab.

Here you can use View Filters or Quick Filters to find relevant Stock Adjustments. You can also Export stock adjustments.

You can Edit or Delete stock adjustments that are 'Transfer' or 'Adjustment' types.

  1. Find the relevant 'Transfer' or 'Adjustment' type stock adjustment.
  2. Under the Actions column, click the 3-dot icon.
  3. Click either the Edit pencil icon or the Delete trashcan icon.

Stock Adjustment Types

In PartsManager, there are many different types of stock adjustments. This section will cover what types of stock adjustments exist and how they are created.

Stock Adjustments will have a Type and Quantity Adjusted (Qty Adjusted).

Quantity Adjustments can be positive or negative adjust. See Below Image:

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  • Positive Adjustment - This adjustment has added stock to the relevant warehouse.
  • Negative Adjustment - This adjustment has removed stock from the relevant warehouse. 

Adjustment Types

Adjustment Type -/+ Adjustment Details
Receive Positive Created when you have received items on a Purchase Order from a vendor to your warehouse's stock.
Unfulfill Positive Created when you have unfulfilled items used on a ServiceTrade Job (or what we call a Sales Order in PartsManager) back into your Warehouses stock.
Void Consume Positive Created when you void a shipment receipt of an item that is a consumable item type. Will simultaneously create a Void Receive of the same item.
Return Negative Created when you have returned items that were in your warehouse's stock back to the vendor you purchased them from.
Fulfill Negative Created when you have fulfilled items onto a Sales Order/ServiceTrade Job out of your warehouse's stock.
Void Receive Negative Created when you voided a shipment receipt of an item. This would likely be done when you accidentally made a receiving action for an item you didn’t physically receive.
Consume Negative Created when you receive an item that is a consumable item type. This will automatically reverse the initial receiving adjustment for the non-inventoried consumable item.
Adjustment Either Created when you Adjusted Stock, when you need to correct an item’s quantity in a warehouse.
Transfer Either Created when you want to transfer an item from one warehouse's stock to another.

 

The Stock Adjustments Page

The Stock Adjustments Page allows you to view all Stock Adjustments across your PartsManager Account.

  1. On the Navigation Bar, click Inventory, then click Stock.
  2. Click the Stock Adjustment Tab.

Here you can use View Filters or Quick Filters to find relevant Stock Adjustments. You can also Export stock adjustments.

There is an Edit Display button that allows you to view more or less column information about each stock adjustment. The chart below defines each column:

Column Field Definition
ID The Stock Adjustment ID number.
Item The Item Name.
Description The Item Description.
Warehouse The Warehouse the item was adjusted out of, to, or through.
Locked If there is a Locked Icon. Screenshot 2023-08-02 at 10.45.15 AM.pngThis indicates the Accounting Period has been locked for this stock adjustment.
Tx Date The date the Adjustment Transaction took place.
Posted Date The date the Adjustment was posted.
Adjustment Account The Adjustment Account the Adjustment was recorded to.
Journal The Journal created for this adjustment.
Type The Stock Adjustment Type. Click here for more details on Types.
Ref. The Purchase Order and/or Sales Order with reference links where the stock adjustment took place.
Shipment Receipt Line The Shipment Receipt Line ID number. Click here to learn more about Shipment Receipts.
Qty Adjusted The quantity that the item was adjusted. Click here to learn more about Adjustments.
Qty Picked The quantity of stock added to the Sales Order listed in the Ref column.
Running Qty Amount in stock at the time of the adjustment.
Currency For a positive adjustment, the currency the price field uses.
Price For a positive adjustment, the cost each Item was received at.
Currency Rate The currency rate used to calculate exchange rates. Click here to learn about Foreign Exchange Rates.
Cost Basis

For a negative adjustment, the cost basis and linked cost layers calculated for this adjustment.

If you have your Inventory Costing Method for Cost Basis set to FIFO, on the Stock Adjustment Page, you can hover over the ℹ️ next to the cost basis value to audit the cost layers when fulfilling from a warehouse. Read More HereScreenshot-2024-03-01-at-4-28-22-PM.jpg

 

FAQs

I sold parts from my inventory via a third-party POS system. How do I record this in PartsManager.

If you sell individual parts out of your warehouses' inventory using a third-party software. You will need to adjust your inventory's stock to reflect this change. This is for items sold that are not connected to a ServiceTrade Job (Sales Order)

  1. Create a negative quantity Stock Adjustment for the item sold.
  2. Select the warehouse you pulled stock from.
  3. Select the Adjustment Ledger Account your record sales to.
    • You can create an Adjustment Ledger Account specifically for over-the-counter sales if you want a place to track these adjustments.
  4. Use the Description to record your POS systems record number for that sale.

Is there a way to audit the cost layers when I have fulfilled parts from my warehouse(s) on a ServiceTrade Job, made negative stock adjustments, or transferred stock out of a warehouse?

If you have your Inventory Costing Method for Cost Basis set to FIFO, on the Stock Adjustment Page, you can hover over the ℹ️ next to the cost basis value to audit the cost layers when fulfilling from a warehouse.

The ℹ️ will only be present when the stock adjustment is a negative value. Cost layers will only be present when parts are fulfilled directly from a warehouse onto a ServiceTrade Job (Sales Order), negative stock adjustments have been created, or when transferring stock out of a warehouse.

Note: If the parts were fulfilled via a Purchase Order with Direct Purchase for Sales Order the ℹ️ will read "no cost layers." This is because the cost of the part on PO is where the cost basis value originated.

This is a powerful tool that allows you to audit all the way back to the specific Purchase Order receipt or adjustment if there's incorrect data in the account. This allows you to identify how the mistake was made.

Screenshot-2024-03-01-at-4-28-22-PM.jpg

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