How to correct stock values

1. Click Products and services and select the product you want to amend then click Edit.
2. Click the Sales tab and click the figure you want to amend, then enter the correct figure.
3. Click Save and click Close.

That's it. You can repeat this for any other products you need to correct and the period value reports will use the amended values.

Correct cost prices on a product transaction

To correct the cost price on product transactions, you simply need to adjust out all stock for the product, then adjust the stock back in with the correct cost values.

NOTE: This only corrects stock which has not yet been sold. You cannot use this method to correct the stock value retrospectively. Therefore you cannot correct the values which appear on the Retrospective Product Valuation report.

You must adjust out all of the quantity in stock, as the Sage Product module uses a First In, First Out stock control system. For example, if the following two adjustments in are posted to a product record:

The second transaction has been posted with an incorrect cost price. If you post an adjustment out for the second transaction, it has the following effect on the product activity.

The value of the stock after the adjustment is still incorrect at 10 x £1500 = £15000.00. This is because the adjustment out has taken the unused quantity of the first entry, then ten items of the second.

NOTE: Before completing this procedure, you should take at least one backup your data. For further information about this, please refer to this guide.

Check the quantity in stock

1. Click Products and services and select the product you want to amend then click Edit.
2. Check the In Stock figure then click Close.
   
   If you use the Sales Order Processing module and have items marked as Allocated, please refer to the section Unallocate and reallocate sales orders later in this article, before continuing to correct the product record.

You've now established the quantity of stock currently within the product record, and you're ready to adjust it out.

Adjust the stock out

1. Click Products and services then click Adjustment out.
2. Complete the Adjustments Out window as required, for example:

   Product Code	Details	Date	Ref	Quantity
   Product Code to be adjusted	Details	Date	Reference	Quantity in stock you noted in the previous section.

3. Click Save and click Close.

You've adjusted all the stock out for the product record and can now adjust it back in with the correct cost price.

TIP: To help you to adjust the stock back into the Product Record, you may want to print the Product Activity report. 

Adjust the stock in with the correct price

Depending on your preference, you can adjust all of the stock back in with one transaction using the average cost price, or post separate adjustments to reflect the original movements in.

1. Click Products and services then click Adjustment in.
2. Enter the relevant information into the Adjustments In window, for example:

   Product Code	Details	Date	Ref	Quantity	Cost Price
   Product Code to be adjusted	Product Details	31/05/2011	Reference	10	150.00
   Product Code to be adjusted	Product Details	30/06/2011	Reference	20	150.00

3. Click Save and click Close.

You've now corrected your stock. If you have unallocated orders you may now reallocate them. For further information about this, please refer to the following section.

Unallocate and reallocate sales orders

Before you correct your stock transactions you need to unallocate any sales orders that have allocations of the relevant products. This is easy to do.

Check which sales orders have the relevant products allocated against them

1. Click Sales orders then click Reports.
2. Click Sales order quantities to despatch and click Sales Order Quantities Left to Despatch by Stock Code then click Print.
3. In the Criteria Stock Code boxes, enter the product code you want to correct then click OK and click OK.

   Only sales orders which are not cancelled and have a quantity of the selected product code remaining are included on this report.

You've now printed a report that lists all of the sales orders that have the product to be amended allocated against them.

Unallocate the sales orders

1. Click Sales orders and select the sales order you want to unallocate then click Amend allocations.
2. Click Off Order and select Unallocate Stock then click OK and click Close.
3. Repeat these steps for any other orders that need to be unallocated.

Now you've unallocated your sales orders, you're ready to correct the cost price on your stock transactions. To do this, please refer to the previous section To correct the cost prices on the product transactions.

Reallocate the sales orders

Once you've corrected your stock transactions, you can reallocate your stock. You should use the details from the Sales Order Quantities left to Despatch by Stock Code report.

1. Click Sales orders and select all sales orders to be allocated.
2. Click Allocate stock and click Yes.

All done. You've successfully corrected your cost values and reallocated your orders.

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