A negative stock is the result of a discrepancy between physical inventory and recorded inventory. Imonggo may be showing that there is less than zero of an item in question, even if you see the goods displayed on your store shelves.
A negative inventory record occurs for various reasons; among them are overselling of items, inaccurate reporting of transactions, failure to regularly update systems, miscommunication between systems, poor receiving practices, and theft.
Imonggo does not restrict selling items with negative value. In fact, Imonggo encourages keeping an accurate inventory of items. To check your negative stock, follow these three simple steps:
- Log in to your Imonggo account. From the homepage, go to Stockroom.
- Proceed to Inventories, where you will find a drop-down menu at the upper right side of the screen.
- Click the drop-down menu, and select Negative Stock.
What does a negative stock mean for your business, anyway? Although a negative stock does not necessarily lead to disaster in your business, it may set in motion an uncontrollable inventory management system that will make it difficult for you to keep track of records. To prevent negative inventory, you need to manage your records more efficiently.
Stay tuned for our post about inventory transactions. (PA)