Adjust stock in Reckon One inventory

Learn how to adjust the value or quantity of your inventory stock in Reckon One. To use this feature, you must have the inventory feature turned on.

Create a stock adjustment

To create a stock adjustment:

1. In the Day to day menu (Business section), select Stock adjustments.
2. Click Create.

1. (Optional) Change the Date.
2. Select the Adjustment type:
   1. Quantity adjusts the amount of stock (by entering a new quantity on hand)
   2. Value adjusts the value of the stock (either by changing the average cost or total value of the item)
3. Select an Account to allocate the adjustment to. Increases in quantity or value of stock are typically recorded against income accounts, while decreases are typically recorded against expense accounts.
4. (Optional) If classifications is enabled, you can select a classification for the adjustment.
5. (Optional) Enter a Description so you have a record of why the adjustment was made.
6. Add or adjust the items included in the adjustment:
   1. To add an item, click into an empty cell in the Item column, then select from the drop down or type to search.
   2. To remove an item, click on the rubbish bin icon to the far right of the item's row.
   3. To add multiple items (available on the Reckon Ultimate plan), click Add multiple items, select the items you wish to include and click Add items.
7. Next, review and enter details for your type of adjustment (quantity or value):

Quantity adjustment

In a quantity adjustment, you'll enter a new quantity on hand for the item (New Qty).

A quantity adjustment will also show:

• the Qty on hand (the last recorded quantity on hand, excluding items already allocated in invoices for sale)
• the Change in quantity (the difference between Qty on hand and New Qty, which will automatically calculate. Reductions in quantity will show as a negative number, while increases will show as positive).

Value adjustment

In a value adjustment, you'll either:

• change the Average cost of an item
• enter a New total value for the item (the new net value of the item available in stock excluding items already allocated in invoices for sale, calculated as Average cost x Quantity on hand).

Changing either one of these will change the other.

A value adjustment will also show:

• the Qty on hand (the last recorded quantity on hand, excluding items already allocated in invoices for sale)
• the Total value (the last recorded total net value of the item available in stock excluding items already allocated in invoices for sale, calculated as Average cost x Quantity on hand)
• the Change in value (the difference between the Total value and New total value, which will automatically calculate).

1. Once finished, save the adjustment:
   1. Click Save to save and keep the adjustment open.
   2. Click the arrow dropdown next to Save and select Save & new to save and open a new blank adjustment.
   3. Click the arrow dropdown next to Save and select Save & close to return to the previous screen.

Correct an error made in a stock adjustment

Stock adjustment transactions cannot be deleted. To correct any mistakes, create a new stock adjustment.

Read more

• Learn how to check stock levels in Reckon One