Inventory Adjustments act as an important feature in a warehouse management system to keep the inventory right. Once your products are defined, it is time to make your initial inventory.
Inventory Adjustment for a single storable product has access to set initial inventory through the Update Quantity button.
Inventory Adjustment for multiple storable products can be done by creating an inventory adjustment to determine their current stock level in Odoo.
For that go to Operations ‣ Inventory Adjustments and create a new one. Once all the necessary products have been entered, you can hit Validate Inventory and the quantities on hand of your different products will be updated.
By dealing with all this another thing that must be taken into consideration is about Inventory Valuation, which refers to how you value your stock.
Odoo offers two Inventory Valuation method:
Manual: when a product enters or leaves the account entries of its inventory won’t be posted automatically.
Automated: Here the accounting entries will be posted automatically.
When Inventory Valuation is kept as Manual, the accounting entries are not created so while setting opening balance in our Accounting there one has to mention the initial inventory. Whereas when the Inventory Valuation is kept as Automated, the accounting entries are posted automatically so while setting opening balance in our Accounting there is no need to mention the initial inventory.
And moreover, when the Inventory Valuation is first set as Manual and then when we change it to Automated, the accounting entries are posted automatically so while setting opening balance in our Accounting there is no need to mention the initial inventory.
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