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Hi guys, need some urgent help.
Two months ago we did a stock count using the counting journal. All the negatives quantities were replaced with physical on hand stock quantities. This has cause a 1.8 million stock adjustment balance sitting in the books. The financial manager has to now create a journal every month to reverse that 1.8 million stock adjustment. How do i get rid of that balance totally.
Nish
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Hello Nish,
I Need more info if the stock was -ve qty before posting Counting journal that means , Stock incoming transactions wer enot posted as i can understand that qty consumed without procuring. are the opening balances tallied for a period.
Regards
spot
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