stock adjustments

Posted By Polite Matlou 9 months ago

Good day.

We did stock take and the counts on the sheet where not matching the ones on sage, we had less stock on hand than what sage was giving us, so I adjusted the stock to what was counted which then debited the stock on sage causing our GP, to go down.. then we investigated and found that someone of the stock was sold but not invoiced, so I want to know that if we bring in the stock that we thought was missing for invoicing wont it affect our GP even more? or do I need to journel the stock?

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0 Richard S. Ridings 9 months ago

Polite Matlou said:
which then debited the stock on sage causing our GP, to go down

This should have debited the stock expense account(s) and credited the inventory asset account(s).

Putting the inventory back into stock and then recording the invoice, will reverse the above transaction for the appropriate dollars. Then the invoice will move the appropriate dollars from the balance sheet back to the income statement again at the same time as increasing the revenue.
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0 Richard S. Ridings 9 months ago

Polite Matlou said:
which then debited the stock on sage causing our GP, to go down

This should have debited the stock expense account(s) and credited the inventory asset account(s).

Putting the inventory back into stock and then recording the invoice, will reverse the above transaction for the appropriate dollars. Then the invoice will move the appropriate dollars from the balance sheet back to the income statement again at the same time as increasing the revenue.
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stock adjustments

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