How to correct a stock item's price or quantity on a Sales/Purchase Invoice
Sales credit notes will always increase stock quantity and purchase credits will always decrease stock quantity and have an impact on cost prices – Average cost recalculates and the last cost price updates, where applicable.
There may be scenarios where you don’t want to impact stock levels, for example, where goods are not returned but there is a change in price. You must follow the rules below to ensure that your stock quantity and cost price remain correct.
If you want to correct an error with a price on a sales or purchase Invoice, you must raise a credit note to reverse the original invoice in full. Then raise a new invoice for the correct price.
This ensures that the nominal postings and customer/supplier account are correct, stock quantities are maintained and in the case of purchase invoices that the average/last cost is updated.
You processed a sales invoice for a stock item with a quantity of 100 and a price of
- Create a credit note for the stock item – 100 quantity @
- Create a new invoice for the stock item – 100 quantity @
The stock levels remain at 100, but the price is now correctly recorded as
If you need to correct an error with the quantity on a sales or purchase invoice, you must complete one of the following options:
- Raise a credit note or an invoice for the change in quantity.
- Reverse the invoice in full, then raise a new invoice for the new quantity (as per scenario 1).
In this scenario, you must complete one of the following options:
- Raise a credit note, then do a manual adjustment to correct the stock levels.
- Don’t select the stock item on the credit note, and just enter a free text description on the credit.