Stock adjustment

Inventories are goods that are in the warehouses of companies. These are materials, ie. goods used to facilitate production or meet consumer demand. Inventories of finished products are held by manufacturing companies, and inventories of goods are mainly those companies engaged in trade. It is very important that at all times we have precise insight into the condition of the goods we have in stock and therefore we must regularly maintain and check our inventory and make inventory adjustments when the need arises.

 Reason for an inventory correction

We make inventory corrections when there is a need for it when we determine that the real state of stocks and goods does not match the state of the system. We need to enter into the system the reasons why we make inventory corrections, the way in which we came to know that the correction needs to be done. We usually see that we have the wrong condition of the goods in the system after the inventory of goods has been done. After the census, an inventory correction should be made and the real situation should be harmonized with the situation in the system. Also, after the purchase of new goods, we need to correct the inventory and enter new quantities of goods into the system so that we have accurate information about the available goods at all times.

Inventory correction status

Inventory correction can have two statuses. The first status "Unprocessed" is given to all inventory corrections when created, and this status is active until we use all the necessary information (for which the warehouse is making corrections, what is the reason for the correction, as well as products whose valuation needs to be corrected). When all the necessary changes have been made, we can assign the status "Completed" to the inventory correction.