Will anybody please explain me the purpose of Item Counting Journal?
The item counting journal is mostly used when you add items in your stock
I posted this journal.total units were 61, in counting i enter 30.after posting the journal item on hand shows 31 units and shows 30 units as sold.what does it means as it has no impact on sales?
Counting journal is used to post the difference between the onhand(exists in the system) and the physical counted qty. ( may not necessarily adding stock, it may be +/-)
You means to say that the scenario i mentioned above is that i have 61 units in system, but 31 units in physical stock so i have to enter the difference in counting, to balance the stock?
Thanks Karanthi and sarathhy
I had verified the solutions of both of you
Will it reduce to inventory cost value, if counted less items?
In some scenario if items counted more then will it be add the cost of inventory?
Yes to both.
I tested, and took the stock report but quantity is reduce not the cost.
if you are adding the stock then, you need to define the cost at journal level or item level.
If you are reducing the stock, then it will take the avg.cost price.