Benefits of Zeroing Out Negative Inventory
Fix misleading inventory
Many times businesses end up with negative inventory quantities especially during busy seasons. When the busy season is over, users tend to prefer to zero out negative stock and do a physical count or simply import the real stock quantities from a spreadsheet.
Accuracy
Because importing quantities from a spreadsheet directly will cause stock quantities to not be accurate, it is preferable to zero out the negatives and then import the proper quantities.
Zero Out Negative Stock
Navigate to Inventory -> Physical Stocktakings -> Start New Stocktaking.
Select the Location and for Products to be included, select “Products with negative stock".
Make sure all products in the table have negative quantities.
Scroll all the way down and click Enter zeros for the rest of items. Once all “Counted” fields show 0, click the Confirm button.
A new physical stock taking will be created. It will also have a Receive Inventory button attached to it. Click it to open and Confirm the new Inventory Registration.
Your stock should now be adjusted.
Terms To Know
Stock: The amount of products available in one’s warehouse
Negative stock: When selling items begin decreasing and if no stock is added, stock quantities go into the negative.
Physical stock taking: The act of counting stock on hand.