Hi Lightspeed the button Vendor Return needs to be changed to Inventory Adjustments
NO ONE KNOWS WHAT A VENDOR RETURN IS.
IT IS AN INVENTORY ADJUSTMENT!!!!
Thank you for your feedback! It is noted. This is currently how the software was built but if you'd like, I could always make an article on how to proceed with inventory adjustments and stipulate where to find it in Lightspeed retail!
Hope this helps!
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All the best!
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@VanessaD , please and thank you. Naming is so important. This is not ideal.
An actual real inventory adjustment feature would be so helpful. In all other systems I have used you can delete an item and receive an item in the same transaction. That way you get an actual quantity and dollar value change in the same transaction so you don't have to do the math yourself (a potential source of errors). It also is easier to track changes if they are in the same entry.
Hey @donnavb ,
Kind of like an inventory count?
To make inventory adjustments, there are a few places you can do so.
1) Purchase orders to add item quantities. Your vendor is not notified if a Purchase Order is marked as Ordered.
Creating Purchase Orders
2) Vendor Returns to remove item quantities. Your vendor is not notified if a Vendor Return is "sent".
Creating Vendor Returns
3) Inventory Counts to adjust all or some quantities whether in positive or negative amounts. (Like cycle counts)
Creating Inventory Counts
4) Manually adjusting quantities.
This particular setup makes it harder to locate bulk data later on, however you can go into each item card and click on the Inventory tab. Any modifications there will appear in the Item's history card (last tab in the item card) with the Reason column being Manually adjusted.
For certain accounting and inventory control practices, some of these options might not be suitable. For us at least.
Example, creating an RTV can trigger an awaiting credit for Accounts Receivable. Or placing a PO can trigger subsequent disbursements for Accounts Payable. Pulling reports for these two areas should ideally only convey those specific scenarios.
And inventory counts are usually part of inventory reconciliation, where missing items are typically tracked down and written off if truly lost. And are reported out separately, since they are in a different accounting category.
The manual inventory quantity adjustment we typically use in situations where an item we own and is in inventory has been damaged beyond repair. And cannot be RTV'ed or repaired internally. Far less common, but at least there is a paper trail in the inventory history logs.
Guess everyone's practices might differ, but it's good that these scenarios are all handled in some manner in Retail.
Gregarican - I always appreciate your comments. The point LS misses though is being able to do one balanced entry that is a fix - the debit and credit both in one entry so you can see the entry balances and there is less chance for error. So much quicker and gives a complete history of the entry in one transaction.
Hi Lightspeed .. any progress on this thread? If not ... it would be able to start a vendor return / Purchase order aka inventory adjustment from the product that needs adjustments
Donna - the Inventory count does just this - when you Reconcile the count it summarises the total $ up or down change.
The issue I have with the function is that it doesn't then feed through anywhere in accounting, and I have to manually do a stock adjustment/write off in our Xero account.. If that could be fixed it would be great.
Any update on this?