Stock adjustments

Stock adjustments are a necessary process to reflect accurate and up-to-date information. They can occur for various reasons, such as inventory discrepancies, damaged goods, expired items, or changes in accounting methods.

In Toscana ERP, only authorized personnel with proper permissions can initiate stock adjustments. This ensures that adjustments are made by qualified individuals and are tracked for audit purposes. It allows various types of adjustments. You can add stock, reduce stock (i.e. write-offs of damaged goods), and revalue stock (in case of price changes). Users simply input the quantity and value changes associated with the adjustment and it is automatically updated throughout the whole system. Toscana ERP automatically generates accounting entries for stock adjustments. These entries ensure that the general ledger reflects the changes in inventory values.

Our system also supports cycle counting which has proved to be a more efficient way to ensure that physical inventory matches the reported inventory. This function involves counting a subset of items in inventory on a regular basis, rather than performing a full physical inventory count all at once.

Stock valuation

While Toscana ERP isn't primarily an accounting software, it boasts a comprehensive range of reports that cater to your accounting team's needs. One such report is the stock valuation report.

Generating stock valuation reports in Toscana is a swift process, taking only minutes to complete. The system conducts calculations to determine the average cost of all items within your inventory and promptly generates a report detailing the value of your stock as of a specific date. Additionally, the system offers a report encompassing all warehouse transactions. Users have the flexibility to choose whether they want to review outgoing or incoming warehouse transactions, and the system generates the report accordingly.

Finally, Toscana archives all cycle counting reports and annual inventory reports, providing easy access to these records. You can effortlessly retrieve these reports, as well as access initial stock levels when necessary.