Entry of excess stock on physical.
This query is : Resolved
Rahul kumar
(Querist)
30 May 2012
What is accounting entry for excess stock find to its stock . Is only quantity taken or its value also.
31 May 2012
Rahul: first of all tell me whether inventory is maintained in system.(Qty x rate)..??
if yes than how physical stock will be more than the book stock. that means BOM(Bill of material) is not correct.
As ur ques in not 100% complete even i m trying. generally Stock Adjustment note (SAN) is recorded with nominal value(Re 1/-) if there is only physical difference in qty. However the value is correct.
if yes than how physical stock will be more than the book stock. that means BOM(Bill of material) is not correct.
As ur ques in not 100% complete even i m trying. generally Stock Adjustment note (SAN) is recorded with nominal value(Re 1/-) if there is only physical difference in qty. However the value is correct.
Soumitra Basu
(Expert)
31 May 2012
Take the stock on the basis of physical verification and value it. There should be a note in the Notes of accounts.
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