Adjust stock values

For certain reasons you might need to adjust the value of a stock item up or down such as:

•Warranty Provision

Where the dealership wants to increase the Recon expenses for a vehicle and apply the amount to a Warranty Provision account in anticipation of future costs.  See Creating a Stock Journal

•Other Provision

Any other provision type expenses can be applied to the stock card to increase the recon total, and the other half of the transaction can be applied to any provision account desired. See Creating a Stock Journal

•Allocating Stock and/or Labour to stock cards

Where the dealership holds stock of goods, say tyres, batteries etc and needs to allocate them to a particular stock card, a stock journal entry can be used to decrease the value of the tyres stock for example, and increase the value of the reconditioning total.  Also allocating internal labour costs to individual stock cards can be achieved with the Stock Journal. See Creating a Stock Journal.

•Stock Value adjustments (Writeback/Writeup)

Where the value of the Stock asset account is to be adjusted, the Stock on hand account can be selected within the Stock Journal entry, with the corresponding entry being applied to a Write back expense/adjustment account. See Creating a Stock Journal

•Stock Value adjustments (Write around)

If you want to adjust stock values between stock cards without having any net affect on your General Ledger, this can also be achieved within a Stock Journal Entry, as multiple stock numbers can be selected into a single journal entry. See Creating a Stock Journal

If you are at all unsure whether you should use a Stock Journal Entry, or how it should be created i.e. which accounts to select, please consult your financial adviser.

Dealer Solutions cannot recommend how to create these types of entries and will not tell you which accounts to select to achieve a particular result.

Stock Journals do not have any GST implications, as they are to be always used to represent internal costs only.