Item Journal is the journal to adjust inventory in connection with purchases, sales, and positive and negative adjustments.
A Physical inventory Journal is used to reflect or correct the physical stock taken with respect to the system inventory.
| Item Journal | Physical inventory Journal |
|---|---|
| 1.All The Fields are entered manually and post | 1.All the fields are populated automatically by the system, except Physical Inventory |
| 2.Reflect the stock according to the posting date only.ie, there may be chance of -ve inventory in the previous months | 2. Adjust Stock on the current date only |
| 3. Is used very rare case only. ie,if no other way to adjust the stock then only its using. | 3. Is used Monthly/Yearly to adjust the Physical Stock and System Stock |
| 4.You cannot adjust Purchase or Sales directly | 4.You can adjust Purchase or Sales directly |