Stock / Inventory
Consider a fashion retailer, which operates on a seasonal schedule. Because of the fast fashion nature of turnover, many retailers, like other fashion retailers, are under pressure to sell inventory rapidly. It is an example of inventory in the finished product stage. On the other hand, the fabric and other production materials are considered a raw material form of inventory.
In this module, you can view the details of stock and try to efficiently streamline inventories to avoid gluts and shortages.
Inventory Adjustment
Sometimes, the quantity or value of your items could change without creating any sales or purchases transactions.
Some of your items are damaged due to mishandling or while shipping. In this case, the available stock has to be reduced without creating a sales transaction.
You could sometimes get additional items from your vendors as incentives. Here, your available stock has to be increased without creating a purchase transaction.
In OneStop, the scenario is accommodated using Quantity Adjustment.
New Stock Journal/Material Transfer
Stock Journal is a journal in which all types of Stock Adjustment are entered.
Stock Journal can be used for Inventory conversion. Used to record the production of multiple finished goods. Same can be used for transferring stock to different locations.
In OneStop, journals can be used to record these unique financial transactions which cannot be recorded normally otherwise.
A stock journal is used to transfer materials or stock from one location to another location. Stocks could even simply be shown as consumed.
Stock Journal List
A stock journal is used to transfer materials or stock from one location to another location. Stocks could even simply be shown as consumed.
In OneStop, journals can be used to record these unique financial transactions which cannot be recorded normally otherwise.