Stock adjustment and revaluation

Stock adjustment and revaluation

Use stock adjustments to update or correct the value and quantities of products in your inventory. You may use this function to enter new stock, remove damaged or stolen stock, revalue stock, correct data entry errors, and more.

Stock adjustments cause transactions to be generated and synced to your accounting records. If the stock adjusment is not 'real' (i.e. in the case of correcting a data entry error), you can skip this step.

Prerequisites

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Update stock quantities and value

Stock quantities can be changed by either amending the quantity of existing stock (non-zero stock) or adding new stock (zero stock). You can edit existing stock quantities and add new stock in the same stock adjustment.

  1. Select Inventory from the main menu, then Stocktake/adjustments.

  2. Select New, then New stock adjustment.
    Create a new stock adjustment

  3. Enter an Effective date for the stock adjustment.

    • Effective date is used for the manual journals generated by an adjustment. Stock quantities are updated when a stock adjustment is completed.

  4. Choose an Account for stock adjustment expenses.

    • Here you can select an expense account, liability account, or your mapped Inventory discrepancy account.

  5. Optionally, enter a Reference and Comment.
    Enter stock adjustment date, account, reference, and comment

  6. Next, update non-zero stock quantities and zero stock quantities. You can also revalue stock, which uses both sections.

  7. Click Complete to finish the stock adjustment. This updates stock quantities immediately and generates financial transactions. Alternatively, save as draft to come back and finish later.


Update non-zero stock quantities

In this section, update quantities of existing stock in your stock adjustment.

Non-zero stock on hand refers to existing stock at a location. If there are no items in stock at a location, use zero stock on hand even if the item is in stock elsewhere in Cin7 Core.

  1. Go to the Non-zero stock tab.

  2. Click + Add to add products manually, or Scan to scan item barcodes.

  1. Choose a product from your inventory. Location will be autofilled with the location of the existing stock.

  2. Enter the New quantity. You can see the amount you have On hand and Available.

  3. Optionally enter a Comment for each line.

Add non-zero stock to update quantities

Update zero stock quantities

In this section, add quantities of items with zero stock on hand. For zero stock, you will need to add cost and location as well as quantity.

  1. Go to the Zero stock tab.

  2. Select a Cost estimate method. This assigns a default unit cost to the items in this stock adjustment section. You can manually overwrite this in the following steps if necessary, or if an SKU does not have this information in Cin7 Core.

    • Average cost: Calculated as the average of all purchase prices for this product. Accrual costs (from manual journals, landed costs etc.) are included.
    • Fixed purchase cost: Fixed purchase cost set when configuring suppliers for this product.
    • Latest purchase cost:Cost from the latest completed purchase order of this product. Accrual costs (from manual journals, landed costs etc.) are included.

  3. Click + Add to add products manually, or Scan to scan item barcodes.

  4. Select the Location of each item.

  5. If applicable, enter the Batch/serial number and Expiry date.

  6. Enter the New quantity.

  7. Optionally enter a Unit cost. This takes priority over the cost estimate.

  8. Optionally enter a Comment for each line.

Add zero stock to update quantities

Update stock value

You may have incorrect stock values in your inventory. Use stock revaluation, a type of stock adjustment, to revalue existing stock. First, you need to write off existing stock, then enter the same stock quantity with a new cost.

  1. Go to theNon-zero stock tab.

  2. + Add the product to revalue.

  3. Enter 0 into the New quantity field to write off existing stock.
    Write off stock to revalue by setting quantity to zero

  1. Next, go to the Zero stocktab.

  2. + Add the same product SKU.

  3. Enter the original quantity into the Quantity field. The current Unit cost in the system is automatically displayed.

  4. Enter the new Unit cost.

    add new stock with correct value to finish stock revaluation

Import stock adjustment via CSV

Update quantities and costs for existing and new stock for many products at once by importing data via CSV.

  1. Select Inventory from the main menu, then Stocktake/adjustments.

  2. Enter the stock adjustment Effective date.

  3. Choose the correct Expense account to debit.

  4. Optionally enter a Reference and Comment.

  5. Click Import.  
    Import stock adjustment details via CSV

  1. Download the CSV Stock adjustment template.

  2. Fill in the CSV according to the instructions.

    • All current lines in stock adjustment will be overwritten by data in the uploaded file.

    • Zero/NonZero can be Zero to add new stock or NonZero to modify existing stock. The fields are the same as in Update non-zero stock quantities and Update zero stock quantities.

    • Each line of the CSV file must have a unique combination of Zero/NonZero, Location, Bin, SKU, Batch/Serial, and Cost.

    • SKU identifies each product. Name is optional.

    • Bin is optional.

    • Enter a positive Unit cost for Zero lines. Unit cost is ignored for NonZero lines.

  3. Select the updated CSV file and click Upload.

Void a stock adjustment

Click Void to reverse all stock adjustment transactions and close the stock adjustment permanently. This does not allow re-opening or re-authorizing the stock adjustment. You can no longer void a stock adjustment if the stock has been transferred, sold, or used in production.

Print stock adjustment

Print stock adjustment details or save as a PDF.

  1. Select Inventory from the main menu, then Stocktake/adjustments.

  2. Open a stock adjustment.

  3. Click Print, then Stock adjustment.

View stock adjustments list

View historical stocktakes and stock adjustments.

  1. Select Inventory from the main menu, then Stocktake/adjustments.

  2. See the details of previous stock adjustments by clicking on an entry.

  

Attach documents to stock adjustments

Stock adjustments and stocktakes which have been saved as a draft will have an Attachments tab. Documents up to 10MB can be attached for future reference. Any PDF documents generated by printing will be added to this tab automatically. You can also add files from a connected Google Workspace account.

  1. Select Inventory from the main menu, then Stocktake/adjustments.

  2. Open a stock adjustment.

  3. Go to the Attachments tab.

  4. Drag and drop, or select, a file to upload.

Attach documents and images to a stock adjustment

View activity log

View all actions taken for a stock adjustment with username and timestamp with the Activity log.

  1. Select Inventory from the main menu, then Stocktake/adjustments.

  2. Open a stock adjustment.

  3. Go to the Activity log tab.

View financial transactions

View all accounting transactions generated by the system for a stock adjustment.

  1. Select Inventory from the main menu, then Stocktake/adjustments.

  2. Open a stock adjustment.

  3. Go to the Financials tab, then Transactions.

Skip transaction sync

Stock adjustments generate transactions which sync to your accounting software. If the stock adjustment is not 'real' (i.e. in the case of correcting a data entry error), this can be skipped.

  1. Hover over your Xero or QuickBooks organization in the top toolbar.

  2. Check the pending sync entries by clicking Products: [x] require sync or View sync history.  

  3. Change the status of the stock adjustment manual Journal (not Product) entry from Pending to Skipped.


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