Adjust Stock

A stock adjustment in the eTIMS (Electronic Tax Invoice Management System) refers to the process of manually updating inventory levels to account for discrepancies between recorded stock and actual physical stock.

These adjustments may be necessary due to reasons such as breakages, theft, errors in recording, or operational losses.

Why Adjust Stock in eTIMS?

1. Maintain Accurate Inventory Records
   To ensure inventory data matches the actual stock on hand.
2. Regulatory Compliance
   To keep a clear and auditable record of inventory changes, as required by the Kenya Revenue Authority (KRA).
3. Resolve Discrepancies
   To correct errors caused by faulty transactions, miscounts, or unexpected losses.
4. Improve Decision-Making
   To provide reliable data for inventory planning, procurement, and operational strategies.

Best Practices for Adjusting Stock

1. Document Reasons Clearly
   Maintain transparency by providing detailed and accurate reasons for adjustments.
2. Limit Adjustments to Authorized Personnel
   Restrict access to stock adjustments to prevent unauthorized changes.
3. Cross-Verify Before Submission
   Double-check adjustment details with physical stock counts to avoid further discrepancies.
4. Track Adjustment Trends
   Monitor frequent adjustments to identify potential issues such as theft or operational inefficiencies.
5. Retain Supporting Documentation
   Keep all reference documents for audit and reconciliation purposes.

👍

Why Adjust Stock?

Adjusting stock in eTIMS using Slade360 eTIMS APIs is a critical process for maintaining accurate inventory records and ensuring compliance with regulatory requirements.

By following the best practices outlined above, businesses can address discrepancies efficiently, maintain operational transparency, and uphold strong inventory management practices.