Consignment stock as Consignee
We have recorded our consignment stock received as if it was a normal purchase and as a result, the value of the stock is showing as an asset with a monetary value. So the items are already entered i...
Forum Discussion
Thanks Yanike,
My question is how do I get rid of the values that are attached to the stock that has been received.
If I enter the sock on hand in the new consignment stock code with zero value, can I then delete the values in the inventory? Or do I need to reverse the the the purchase orders where the items were received?
Hi EESA
There are two ways to update that inventory account:
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Update that account and then deal with the fallout - not the best as likely inventory will not reconcile
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Record an Inventory adjustment to remove the stock, update the linked account and then add the stock back in using another inventory account (if required)
