Correcting specific receipts

This page allows you to correct the quantity and value details of specific receipts. Tell me more.

Select the “Correct Specific Receipts” link in the ”Create Stock Correction” or “Edit Stock Correction” page.

The “Correct Specific Receipts” page appears.

Note: The system ensures that the selected stock correction document is not of Correction Basis "Repair Receipt" and Correction Type "Quantity and Value".

The system displays the following:

Date Format

The format in which the date fields are displayed in this page. This format is displayed from the "User Preferences" business component based on the login user ID. In case the format is not defined, the system displays the date format from the “Enterprise Modeling” business component by default.

The system displays the following in the “Stock Correction Details” group box:

Stock Correction #	The number identifying the stock correction document.
Status	The status of the stock correction document. The system displays “Draft” or “Fresh”.
Warehouse #	The number indicating the warehouse for which the stock correction document is raised.
Note: The system would display the “Warehouse #” only if the “Maintain Valuation At“ field in the “Set Inventory Options” activity of the “Logistics Common Master” business component is set as “Warehouse”. If the option is set as “Location”, then “Warehouse #” will not be displayed.
Correction Type	The type of the correction, which could be “Value” or “Quantity & Value”.

Enter the following in the “Part Selection” group box:

Part #	Use the drop down list box to select the part for which the individual receipt details must be corrected.
Note: The system lists the part numbers based on the following conditions: a) The correction basis is “General”, the correction type is “Value” and the valuation method is “LIFO” or “FIFO”. b) The correction type is “Quantity & Value”, the valuation method is “LIFO” or “FIFO” and the correction quantity is positive and - if the “Apply Default Correction Value” check box is not checked (or) if Value details is not entered in the “Edit Value Details” page, for that Part # - Stock Status
Stock Status	Use the drop-down list box to select the stock status of the part For which the individual receipt details must be corrected.
Note: The system lists the stock status based on the following conditions: a) Stock Status associated with the Part # of valuation method “LIFO” or “FIFO” in the Main Page, in which the correction basis is set as “General” and the correction type is set as “Value” b) The correction type is “Quantity & Value”, the valuation method is “LIFO” or “FIFO” and the correction quantity is positive and if the “Apply Default Correction Value” check box is not checked (or) if value details are not entered in the “Edit Value Details” page, for that part number - stock status.
Receipt From Date	The starting date in the range of dates from which the receipt details must be corrected. (Date Format). The “Receipt From Date” should be earlier than or same as the system date.
Receipt To Date	The ending date in the range of dates till when the receipt details must be corrected. (Date Format). The “Receipt To Date” should be earlier than or same as the system date.

Note: Ensure that “Receipt From Date” is earlier than or same as the “Receipt To Date”.

Click the “Get Details” pushbutton to retrieve the correction details of the selected part.

The system displays the following in the “Part Details” group box:

Corrected Quantity	Actual physical stock quantity available in the warehouse.
Part Description	The textual description of the part.
Correction Quantity	The difference between the physical stock quantity and the system stock quantity .
Valuation Method	The valuation method, which could be “LIFO (Last In First Out)” or, “FIFO (First In First Out)”.

The system displays the following in the “Receipt Details” multiline:

Receipt #	The number identifying the receipt of the stock in the warehouse.
Receipt Date	The date on which the stock was received in the warehouse.
Receipt Quantity	The quantity of stock received in the warehouse.
Receipt Value	The value of the stock receipt.

Enter the following:

Correction Quantity

The difference between the physical stock quantity and the system stock quantity (Decimal). This value entered in this field will be ignored, if the “Correction Type” field is set to “Value” and the valuation method is set to “LIFO” or “FIFO”.

Note: If “Correction Type” is set to “Quantity & Value”, the sum of “Correction Quantity” entered in the multiline must be equal to the “Correction Quantity” displayed in the “Part Details” group box.

Correction Value

The correction value of the receipts (Decimal). This field can be left blank, if the “Corrected Value” field is entered. The system ensures this field is left blank or set as “Zero” if the “Expensing Policy” for each part is set as “On Receipt” in the interacting “Part Administration” business component.

Note: If the “Correction Type” is set to “Quantity & Value”, it is mandatory to enter both “Correction Value” and “Correction Quantity” fields.

Corrected Value

The corrected value of the receipts. This is the total of the Receipt value and the correction value (Decimal). Ensure that the entered value is greater than or equal to zero.

Note: Ensure that if the “Corrected Value” is entered , it is greater than or equal to zero.

Note: Ensure that for the correction type “Value”, either the “Correction value” or the “Corrected Value” is entered in the multiline.

Note:Enter atleast for one row value is entered, in the multiline.

The system displays the following in the “Receipt Details” multiline:

Receipt Type	The type of receipt, which could be “Unplanned Receipt”, “Stock Transfer Receipt“, “Goods Receipt”, “Stock Correction“ or “Stock Return”.
Receipt Source	The warehouse from which the stock was received.

Click the “Correct Specific Receipts” pushbutton, to update the corrected receipt details.

The system calculates the “Corrected Value” as follows:

Corrected Value = Receipt Value + Correction Value.

The system calculates the “Correction Value” as follows:

Correction Value = Corrected Value - Receipt Value

The system performs the following on clicking the “Correct Specific Receipts” pushbutton:

The system updates the value stored for the line number against the "Specific Receipts Link" in the main page, as "Data Entered“.

Note: For the part with correction type as quantity and value, valuation method as LIFO / FIFO and with positive correction, if the values are nullified then the value stored for the line number against the "Specific Receipts Link" in the main page, will be replaced by “Applicable”

To proceed

Select the “Authorize Stock Correction” link to authorize the stock correction document.

What you can do in this page

Correct individual receipt quantities and values

You can correct the quantity and the value details of the specific receipt, if the correction type is “Quantity & Value”, and the costing method for the part is set as “LIFO” or “FIFO”.

Use the “Part #” drop-down list box to select the part for which individual receipts must be corrected.
Use the “Stock Status” drop-down list box to select the status of the part for which individual receipts must be corrected.

The system displays the receipt details for the selected part in the multiline.

If the “Correction Type” is “Quantity & Value”, enter the “Correction Quantity” and “Correction Value” fields in the “Receipt Details” multiline , against the receipts. Through this, the quantity and value of the receipts can be corrected.
If the “Correction Type” is “Value”, enter the “Correction Value” or the “Corrected Value” field in the “Receipt Details” multiline , against the receipts. Through this, the value of the receipts can be corrected.

Correcting specific receipts-An Overview

This page allows you to correct the quantity and value details of specific receipts. Quantity correction can be done, by splitting the positive correction quantity against the receipts. The correction can be done only for “Value” and “Quantity & Value” correction type. Also, the costing method for the part must have been set to “LIFO” or “FIFO”.

You can correct the quantity and the value details of the specific receipt in the following circumstances:

a)The Correction basis of the document is “General” and the correction type is “Value” and for the parts of valuation method “ LIFO” or “FIFO”. Through this the value of any receipt can be corrected.

b) The correction type of the document is “Quantity & Value”, the parts are of valuation method “LIFO” or “FIFO”, the consolidation correction quantity is positive and if the “Apply Default Correction Value” check box is not checked (or) if value details are not entered in the “Edit Value Details” page, for that part number - stock status . Through this, the additional positive quantity can be split against any receipts and the value of those receipts can be corrected.