Inventory Adjustments in Odoo-15
A business may have a lot of customers, and its inventory may have a huge number of products. As a result, large orders and deliveries occur and it can also cause complications when a product is inefficient at the time of delivery. Therefore, proper product management is necessary. As a result, inventory management and product stock updates are essential and stock adjustments are periodically required for proper administration.
Inventory => Configuration => Settings
The Annual Inventory Day and Month may be adjusted based on company policies. To make changes open the settings page. The settings tab contains an Annual Inventory Day and Month and you can select a month and a specific date. Many businesses do annual inventory stock valuations before the conclusion of the fiscal year.
Operations => Inventory Adjustments
- Select Inventory Adjustments from the operations tab.
A list of Inventory adjustments is shown along with their Location, Product, Quantity on hand, counted quantity, difference, and Scheduled date. The On-hand Quantity is the total quantity of that particular product in the Inventory. The Counted Quantity is the total quantity of products counted physically at a specified location. The stock value must be adjusted if a product is damaged and cannot be used. The scheduled date is the Annual Inventory Day and Month set on the settings page.
Click the Create button to add a new adjustment.
You can click set button to add counted quantities and these counted quantity will be set as the on-hand quantity when you click the Apply button. The History button displays a list of all previous inventory made on that product.
Adding inventory adjustments to each product is time-consuming. By selecting multiple Inventory Adjustments three options appear at the top: Apply, Clear, and Request a count.
The apply option is used for updating a large number of products counted quantity. After adding the counted quantity select the inventory adjustments and click apply button. Then an Inventory Adjustment Reference/Reason window appears and you can enter the reason and apply.
If you want to clear any changes that were made then use the clear option. Clearing each product separately would be time-consuming. So that you can clear all of the unapplied changes at once by selecting multiple products and click clear.
The Reset Quantity window appears. When you click to continue, all unapplied counts will be removed.
Counting all of the products is extremely difficult, for that use Request a count option.
Inventory Date indicates when the salesperson is scheduled to count inventory. The user is responsible person for the inventory count. The date on which these inventory changes have an impact on reporting can be included. There are two ways to count: Leave Empty and Set Current Value. While setting Set Current Value, the current stock value of that product will be displayed in the counting field. After confirming the request, the user will appear in the corresponding inventory adjustments.
The user can update the counted quantity after counting the stock. A salesperson can only update changes.
Products that require cyclic stock checks can be added to a location, and the location’s cycle frequency can be set.
Configuration => Locations
A list of locations is displayed. Open any location and under the Cyclic inventory the inventory frequency, which is defined in days, can be set. The next expected inventory is automatically updated when the Inventory Frequency field is changed.
Open the Inventory Adjustments tab to view the Adjustments done for this location. Use the group by option to sort location. The Scheduled date will be changed to the Next Expected Inventory.
Inventory adjustment is essential for appropriate stock maintenance. Using the Odoo Inventory module and the Inventory Adjustment proper stock management can be handled.
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