We did a physical stockcount on August 29. The reconciliation report shows 34,735 on hand. The physical quantity was 34,704 and an adjustment was posted for -31.
However when we run the stock card it is showing the physical quantity on the 29th as 30.600 after the adjustment for the -31.
Why do I have this difference?

The Stock Card report relies on a complete Transaction History in order for the opening balance to be calculated from the current qty on hand and net transactions. If any process has not been performed to send transactions to IC History (Print/Purge OE audit lists, Print/Purge PO audit lists and retrieve into IC, etc) or if any Transaction History has been purged, the opening balance of an item could be incorrect.