What is the difference between Item Journal & Physical inventory Journal?


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

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