Stock Adjustments

smiley66 Registered Posts: 2 New contributor 🐸
Have just qualified and started with a new company and need some help.

Does anyone out there use the TAS 3 accounting system?
We are about to come to year end and the stock is a mess. I need to work out the correct way to do stock adjustments. :huh:


  • M Norine
    M Norine Registered Posts: 6 Regular contributor ⭐ 😼 ⭐
    Hi Smiley66,

    We do use Tasbook3 in our company

    The way we do our stock is as follow.
    Print out stock take report (545) remember to tick (in stock and gird lines) options, then fill out (counted and variance) columns manually

    To do stock adjustments go to 521 - stock adjustments and tick stock take option then put GMV if any. recall relevant products for adjustment, remember you only need put variance figures from the stock take report e.g. product A stock says 10 unit and you have counted 8 units hence the variance is (-2) in this case you need put (-2) in adjustment for the product A. Normally the default nominal for the adjustment is suspense account (2500), I usually change the default description (stock adjustment) to the product's name or code, which does make sense when you print out the suspense account report, which shows exactly what the entries relate to. You may need to write some notes if some products are missing or damaged or any other reasons as these maybe required to justifying suspense account if it can not be cleared.
  • smiley66
    smiley66 Registered Posts: 2 New contributor 🐸
    Hi and thank you for your reply. It has made things alot clearer.

    My MD set up the accounts system about 5 years ago and has been doing the accounts himself all that time. Unfortunately he is an engineer and the books are a mess especially the stock. He seems to have the adjustments moving from 1600 to 1600 (stock) so it makes no difference to the actual balance. It's a real state and he is looking to me to clear everything up. I feel a bit out of my depth at the moment. He doesn't seem to have set up a suspence account. :huh:
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