1) Month End Stock Balance Report = 1,000
* Do Stock Adjustment - minus out all quantity and add in again same quantity but with new cost
* This cost is actual stock value after stock take, eg: 850
2) Stock Value Maintenance = 850
* Closing Stock value in PnL & BS
3) Stock Loss Entries (Stock Written-Off Account)
* Create new GL Code = Stock Loss Account/Stock Written-Off Account (PnL)
* Create Journal - DR Stock Loss Account & CR Cost Of Sales/Purchases Account = 150
* In PnL-GP will see double counting but indeed it's not. Because when refer to both BS-Stock & PnL-C/S Report it'll not double counting.
* In PnL-NP - $ no reflect
Options for No. 3)...
* Create new GL Code = Provision for Stock Account (BS)
* Create Journal - DR Provision for Stock & CR Cost Of Sales/Purchases Account
Reason : If user do not want to reflect PnL performace.
Also, the discrepancies $ might be found at the end of year.
Anyhow, at the end of the year, user need to do Journal to settle off Provision for Stock Account.