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|