Refresh stock
Refresh stock is a feature that refreshes the stock information in the databases. It may happen that the user finishes working with the program incorrectly, so the program may incorrectly relieve inventory, serial numbers, etc.
Refreshing stock is important when the final costing (the so-called cost analysis) is entered only after the purchased items have been issued. This feature corrects the price for valuation in all these issues. It is also used when the purchase prices of materials or merchandise have been changed subsequently, when negative warehouse issues are allowed, and when receipts are entered retrospectively, i.e. after the goods have been issued, and when the FIFO or LIFO valuation methods are used.
To access the Refresh stock feature, in the command line of the Stock module, go to Wizards | Refresh stock.
The Refresh stock pop-up window has two tabs:
1. Refresh stock
There are two ways to refresh stock, indicated by the toggle buttons at the bottom of the pop-up window (Stock refresh settings):
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Refresh stock
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Calculates the stock balance according to the documents and reconciles it with the stock balance on the stock card. This option is always performed on a warehouse-by-warehouse basis.
Refreshing stock with the appropriate options is used in particular when:
- the stock balance differs from the stock card,
- the stock of an item tracked by serial number is different from the number of serial numbers held in stock.
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Recalculate valuation prices
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The recalculation of valuation prices works by first chronologically sorting the documents by delivery date or date of issue, and then by category in the following order:
Movements in all three categories are sorted chronologically, i.e. by the date and time when the line was entered.
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WARNINGS
Such a change also affects the calculation of the price difference for warehouse issuing.
If the average price calculation did not perform correctly, check this information and restart the recalculation.
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HINT
When recalculating valuation prices, besides purchase prices from receiving, the program also uses information on:
- stock management and stock valuation from the warehouse register,
- how the purchase price is applied in the receiving document types,
- how the purchase price is applied in the issuing document types.
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The Refresh stock pop-up window has the following fields to enter data into:
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Item
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Enter an item or select it from the drop-down list.
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HINT
As refreshing stock can be a lengthy process, this option is mainly used when you want to refresh stock quickly and only for specific items.
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Warehouse
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To refresh stock in a specific warehouse, select the desired warehouse from the drop-down list.
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WARNING
The Recalculate valuation prices option is always performed for all warehouses.
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Goods period end (date)
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The starting date from which the price to be valued (average price, LIFO, FIFO or constant price) is recalculated.
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WARNING
This setting applies to Recalculate valuation prices.
By default, the program uses the Goods period end date from the parameters, so it cannot be changed here.
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(+) Refresh
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Triggers refreshing stock and price recalculation with the selected criteria, and starts a recalculation of movements.
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(x) Cancel
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Cancels the settings entered.
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When the programme finishes refreshing stock, the following message will appear: Refresh complete!
2. Errors
The Errors tab shows a list of warehouses for which recalculations have been performed, and the status of the recalculation. When refreshing stock and recalculating average prices, information is shown on which item has negative stock and which item shows a negative average price. Based on this information, you can find the cause of the error in the stock data and correct it.
Clicking on the Errors tab opens a list of errors:
The list of errors has information in the following columns:
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Warehouse
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The warehouse where the error occurs.
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Item
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Item to which the error refers.
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Document
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The document where the error appears. By double-clicking on the document number, you can directly open the document.
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Errors
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Error number and description in the form of an IRIS message:
- IRIS 6651 – Stock is below zero.
- IRIS 6652 – Price is zero.
- IRIS 6653 – The stock is below zero.
- IRIS 6654 – The value is below zero.
- IRIS 6655 – The stock value is different from zero, but the quantity is zero.
- IRIS 6656 – Fixed price not set.
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WARNING
The calculation of quantities and values of receiving and issuing is made for all decimal places, while the comparison in the presentation of the results is carried out:
- for quantities taken received and issued: to the sixth decimal place,
- for values received and issued: to the fourth decimal place.
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