SLS - Update Stock Levels
Overview
The School Shop ‘Update Stock Levels’ program is where you complete the final process in your stocktake cycle.
This program will update computer stock levels by adjusting it by the amount of the quantity variance shown on the 'Stocktake Variance report'.
If this shop is set up to integrate to General Ledger then it will also create a variation journal:
When the physical count is less than the computer record:
DR Stock Variance Account
CR Stock
When the physical count is greater than the computer record:
DR Stock
CR Stock Variance Account
Once you have updated the stock levels the variation report cannot be reprinted.
Stock Variance GL Account | This is the General Ledger account that will be used for the stock variance (as above). |
Have you printed and checked | You must tick this checkbox to continue. Important! This is designed to be a reminder for you as it is critical that you print and check this report before running this update. Once you have updated the stock levels the variation report cannot be reprinted. |
Click the 'GO' button to update your stock levels and finalise the stocktake.