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Stock Adjustment, Stock Conversion & Virtual Stock

Stock maintenance is done in the Inventory by the following procedures:

  1. Stock Adjustment
  2. Stock Conversion
  3. Virtual Stock

Stock Adjustment

Stock Adjustment is a process in which we can update the stock in our Inventory weather it is “Good” Stock or “Bad” stock. It is done when some item is received against some “Voucher”. We Can update Stock under “Good Stock” means the Stock which is in “Good Condition” and under “Bad Stock” means the stock which can be used with little refining.

Steps to do Stock Adjustment

  • Log in to “Ease My Production” Software with login credentials.
  • Go to Inventory > Operations > Stock Maintenance > Stock Adjustments.
  • In Stock Adjustment list, click on “Adjust stock”.
  • In the Adjust Stock popup, Kindly fill the details accordingly.
  • Enter Voucher No. from the drop down.
  • Enter Inventory Reference.
  • Upload the related document by clicking in Upload/View Documents. To know how to upload document click here.
  • Enter the Remarks (if any).
  • To add items click on Add item button.

Note:

1. You can add Simple and Configurable items only for Updation of stock.
2. When you update stock of Simple or Configurable item, parallel Bundle Item containing these child item’s stock will also be update.

How to add item in Stock Adjustment

  • Click on “Add Item “ tab.
  • After that Add Item pop up will open, then list of items will open.
  • Select on items by clicking on “check box”.
  • You can select multiple items at a single go.

Note:

1. After adding item it will show two tabs one is of “Good” and “Bad”. It refers to the Inventory in which the stock needs to be updated.
2. The value written in physical quantity will be stock added Inventory quantity + New stock quantity also.
3. Adjustment value will show the exact quantity of which new stock is there.
4. Adjustment quantity will be more than 0.

  • Enter value in Physical quantity tab accordingly in Good or Bad Inventory.
  • Click on Submit.

Note:

1. Once the Stock Adjustment is created, it will show Submit as status. Only the warehouse manager/other users who has permission to approve the Stock Adjustment will be able to approve it. After approval, it will show status as “Approved” on the same page.

  • To approve > click on Approve button.
  • To make any changes > Click on Edit button.
  • To cancel > Click on Cancel button.

Stock Conversion

Stock Conversion is the functionality through which you can convert stock from Good inventory to Bad Inventory. It only mean that if is in some case we can use Bad Inventory item after little refining. Or if in some case some Good Inventory product either found defective or due to some mistake it can’t be use so we can convert it from Good Inventory to Bad Inventory.

Note:

Stock can only be converted from Good stock to Bad stock or from Bad stock to Good stock. We cannot Convert the stock from same inventory to Same Inventory.

Steps to do Stock Conversion

  • Go to Operations tab > Stock Maintenance > Stock Conversion
  • Click on “Convert Stock” button.
  • Stock Conversion page will open after that.
  • Select stock conversion number from dropdown.
  • Enter Remarks if any.
  • Upload the related document by clicking in Upload/View Documents. To know how to upload document click here.
  • Click on Add Item to add item for conversion.

How to add Items for Stock Conversion

  • Click on “Add Item “ tab.
  • After that Add Item pop up will open, then list of items will open.
  • Select on items by clicking on “check box”.
  • You can select multiple items at a single go.
  • After that Add Item window will open in that You can convert quantity which ever is available in stock.
  • Enter Inventory type from the drop down. You cannot convert same inventory to same type.
  • Enter the conversion quantity.
  • For deletion of any item click on Red delete button.

Note:

1. Conversion to same Inventory type cannot be possible.
2. Quantity cannot be exceeded to Available quantity.

Note:

1. Once the Stock Conversion is created, it will show Submit as status. Only the warehouse manager/other users who has permission to approve the Stock Conversion will be able to approve it. After approval, it will show status as “Approved” on the same page.

Virtual Stock

Virtual Stock is a feature to update the Stock in Virtual Inventory. In this we can stock for Simple and Configurable items.

Steps to do Virtual Stock

  • Log in to “Ease My Production” Software with login credentials.
  • Go to Inventory > Operations > Stock Maintenance > Virtual Stock.
  • Virtual Stock page will open click on Edit button.
  • For Configurable item click on Arrow in front, list of configurable item will open.
  • Then enter the values in the front in the box in front of the item.
  • For Simple items enter the value in box in front of the item.
  • Click on Update button.
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