I would look into the item tracking, as you can create Lot (Batch) tracking.
create the lot tracking code
Item Journals - Negative stock out. (Before posting, export out the lines in excel. you will need this for the Postive jounal back in.)
on the item card but, populate wit the new tracking code for the item you need batching.
Item Journals - Positive stock in. (remeber you much put the same cost back in from the excel you export out for the negative adjustment. Cant make something out of nothing rule).
on the journal select ==> Line ==> item tracking and add the QTY you need for the batch (I.e. batch. 1234 has 100 qty)
if not already in view, you will need to customise your pacge to bring in the expiry date in and populate it.
check all before posting the stock back in.
Please note, when you consume the stock on the way out you will need to assigne a batch on the item tracking for the product before you can post. (assuming you not used Item tracking before :) )
If you have a list of items in inventory and you need to an expiration dates to the lot you can use the Item Reclassification Journal to do it.
You can use edit in excel or configuration packages to make it faster as well.
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