Adjusting stock based on an audit

If an audit reveals a discrepancy between the quantity of parts counted and the quantity expected to be on hand, you can create an adjustment transaction to correct the stock quantity and calculate the cost of the adjustment.

You can only create an adjustment if the audit's status is Closed and it hasn't already been adjusted.

  1. Look up the correct audit.
  2. Select the correct audit in the Audit Lookup Results grid.
    Note: You can select multiple audits to adjust quantities in bulk.
  3. Click Action and select Adjust Selected Audits.
  4. If the adjustment will increase the quantity on hand, select the costing method that you want to use for the added parts.
    If the parts were added in a receipt transaction you would specify the unit cost, so an alternative method is required to determine the unit cost of parts added through an adjustment. You can use the average cost, the area average cost, the last received cost, or the area last received cost. You can also select Specify Cost and specify a unit cost for the parts.
  5. Specify the identification code for the employee recording the adjustment in the Employee field.
  6. Specify the reason for adjusting the stock quantity in the Reason field.
  7. Click Save.