I plan to settle a transaction by paying with stock-in-hand to an outstanding supplier. However while doing a journal entry I can proceed till Account Column and select “Cash-in-hand”. After that I dont see an option to select any particular stock in the PartyType and Party columns. Screen below Journal|690x162
The dropdown prompts to create a new docType. Is it possible to use journal entry to adjust stock ?
Nope. But if you have perpetual inventory turned on and seems like you do, a stock entry will automatically have an impact on your accounting ledger.
You could use Stock Entry Purpose: Material Issue and issue out the material. You could use the account you mentioned in your mail in the Difference Account.
Are you saying that instead of giving a Supplier Money, you are going to give the supplier some stocks? Is it stocks that the Supplier Delivered for which you have a transaction on ERPNext? Or is it stocks that the supplier didn’t deliver and/or the transaction does not figure on ERPNext?
If the stock transaction from Supplier exists on ERPNext: Can’t you do a Purchase Return?
If the stock transaction from Supplier does not exist on ERPNext: Please consider using a Sales Invoice or a Delivery Note and you can move the amount from the Receivables to the Payables manually by a Journal Entry so that you diminish your payable to the supplier for the value of this transaction.
I hope I am on the right track.
Apologies if I am not. But conceptually the above content is valid.
The case is that the supplier did not deliver that material. Hence I cant do a purchase return.
However the product was brought from another party and resides on ERPNext as stock in hand.
In the second option you mentioned I believe a Debit Note makes more sense than a sales invoice. However, how does doing a Debit note reduce my stock and the payable to a supplier ?
I am sorry but I did not quite get what you proposed.
A Sales Invoice cum Delivery Note is best. That will create a Receivables Entry for the “Customer” (on ERPNext, you can’t have a common account. You need to set up the party as both a customer and a supplier). Reverse that and move it to Payables and you are good to go.
Alternatively do a Delivery Note and then do a Debit Note.
Or do a Stock Entry Purpose Material Issue and use any expense/difference account. And move that from that account to the Payables account.
I don’t mean to be offensive, but if you still need help, it’s easier for me to do it for you. Please find a service provider that can help you with this and engage him or her for this.