Point of Sale (POS) Glossary
Inventory Adjustments are increases and decreases made in a point of sale system to accommodate for known instances of breakage, theft, waste or item expiration, internal use, stock movement to a different location, shipment errors, and various write-offs. These adjustments in a POS system return recorded inventory counts to accurate levels.
Inventory Adjustments may also be made after stock reconciliation to account for unknown circumstances when a POS stock count differs from the audit. If the POS system does not do real-time inventory tracking and relies on manual stock counts, it requires periodic Inventory Adjustments to maintain accurate counts.
Incorrect inventory counts affect the cost of goods calculation, reordering schedule, and overall accounting. Inventory Adjustments are an essential tool to help keep stock numbers accurate.
An eCommerce website is open 24/7 and accessible from all over the world. Being online and having physical store opens your business to a global market.
You’ve probably been at the register at the grocery store and asked if you wanted to contribute money to a charity as you checked out. Maybe you donated, or perhaps you found it was annoying. It might have depended on your mood that day, or possibly the charity was a deciding factor.