Stock Update Entries are made to update the stock count in the Inventory. It is one of the stock update features of RetailEasy on-cloud through which the stock count can be modified, fleeing Purchase Invoice. To avoid any misuse of the feature, all Stock Update Entries reflect in the Inventory, only after the Stock Update Approval is confirmed by the concerned authority.

Benefits of Stock Update Entry:

Stock Update Entry is made only when there is a stock count mismatch between the physical stock count and the stock count in the POS. Stock Update Entries are made only to reduce the Stock count, stock count increments are done using Opening Stock Entry. The Stock Update Entry overwrites the existing stock count while Opening Stock Entry adds up to the existing stock count. Stock Update Entries can be used to correct Negative Stock Count in the software.

Note: Stock Update Entries can't be made for Serialized Items. Refer to the Stock Update Status report to check the status of your Entry.

How to make Stock Update Entry?

Step 1: In the main tab of RetailEasy on-cloud, click on Inventory > Stock Update Entry

Step 2: In the Stock Update Entry screen, press Enter on the Code field and select the Item from the Item list pop-up. RetailEasy on-cloud auto-fills the Description, Current Stock, Selling Price, and MRP for the Item

Step 3: Enter the correct physical stock in the Physical Qty field

Note: The Stock Update Entry replaces the Current Stock with the Physical Stock, whereas an Opening Stock Entry increments the existing stock count

Step 4: Repeat Steps 2 & 3 for all the Items for which Stock Update Entry has to be made and click on Save

Step 5: A message requesting the Stock Update Approval appears. Click OK to proceed.

Note: The Stock Update Entry will reflect in the Inventory, only if the Stock Update Approval is given for the Stock Update Entry

How to make Stock Update Approval?

Step 5: In the main tab of RetailEasy on-cloud, click on Inventory > Stock Update Approval

Step 6: In the Stock Update Approval screen, select the location to load the Items for which the Stock Update Approval is made

Step 7: Once the Stock Update is made, all the pending Stock approvals of the Location appear with the details like Physical Qty, Current Stock

• Current Stock - The Current Stock field displays the Stock count as per the POS system records

• Physical Qty - The Physical Qty field displays the Stock count as per the Store. The Physical Qty will overwrite the Current Stock after saving the Stock Update Approval

• Update Qty - The Update Quantity field shows the difference between the Current stock and the Physical Stock

• Status - The Status field is a reflection of the increase or decrease in the Stock count from the Current Stock to the Physical Qty

• Approval - The approval checkboxes are ticked by default. You can click on the ticked checkbox to cross (remove) the Approval from the checkbox

• Remarks - Any remarks for Approval can be added to the remarks section

Step 8: A message confirming successful Stock Update Approval appears

Thus the Stock Update Entries have been made into the Inventory. The Stock Update Entries can be checked in the Reports section along with their Status, Physical, Actual Quantities and Prices.