Inventory Journal Entries | Zayls

by Angelica San Juan
5 months ago
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Inventory Journal Entries

Users can check on the journal entries in different transactions by selecting the Journal tab.

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STOCK ADJUSTMENT

The journal entry for stock adjustment depends if it is a stock adjustment IN or OUT.

Journal Entry (IN):

  • Dr Inventory (selected during the creation of product)

  • Cr Account (depending on the reason for adjustment)

Journal Entry (OUT):

  • Dr Account (depending on the reason for adjustment)

  • Cr Inventory (selected during the creation of product)

TRANSFER ORDER

The journal entry for transfer order will only be created if the transaction is “In Transit” status. Amount will depend on the fulfilled quantity.

Journal Entry:

  • Dr Inventory in Transit

  • Cr Inventory (selected during the creation of product)

In case that the Item Receipt is partial, meaning not all items are received, users should “Close” the Transfer Order to return the in transit quantities to the source stock on hand.

The following journal entries are also created upon closing of Transfer Orders.

Journal Entry:

  • Dr Inventory (selected during the creation of product)

  • Cr Inventory in Transit

ITEM RECEIPT

The journal entry for item receipt will only be created if the transaction is “Received” status. Amount will depend on the actual received quantity.

Journal Entry:

  • Dr Inventory (selected during the creation of product)

  • Cr Inventory in Transit

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