The Inventory module is specifically designed to meet all your inventory needs.
It provides the ability to keep an accurate account of all the materials your company stocks. With integration to and from other accounting modules, it provides a complete tracking system for inventory sales to customers, jobs, and equipment, as well as transfers of inventory from one location to another.
- Inventory Locations - Inventory locations are used to identify where inventory is stored- for example stockrooms, warehouses, production plants, or service trucks. Locations are created and maintained using the IN Locations form.
- Location Materials - Once you have set up locations, you can assign your stocked materials to the locations where they are stored. Although a material can be stored at multiple locations, inventory transactions for that material are tracked separately for each location. Materials stored at multiple locations can be transferred from one location to another as necessary. The system will update material quantities for both locations and make the corresponding GL entries. For more information, see IN Location Materials .
- Inventory Adjustments and Physical Count - Adjustments to inventory are entered using two forms:
- IN Adjustment Entry - Adjustments posted in IN Adjustment Entry are typically due to write-offs, damage and loss, or mis-postings.
- IN Physical Count Worksheet - Adjustments posted in IN Physical Count Worksheet are due to discrepancies found between a physical count and the computer count. Either of these types of adjustments can be made with positive or negative amounts.
- Location Transfers - Location transfers are entered in IN Transfer Entry , and are used to move materials from one location to another. The material must be stocked at both the transferring and destination locations.
- On Hand Quantity - The on hand quantity of a material is the total of two quantities: invoiced and received/not invoiced. For more information, see About On-Hand Quantities.
- Material Orders - Material Orders allow you to reserve (allocate) materials in inventory for use on specific jobs. For more information, see Material Orders.
- Posting Sales of Materials - There are several methods for posting sales of materials for jobs, customers, and/or inventory. For more information, see About Posting Sales of Materials.
- Bill of Materials - You can track the raw materials used in the production of finished goods as well as the finished good and the appropriate proportions. The bill of materials allows inventory to be adjusted when the finished good is produced. For more information, see IN Bill Of Materials .
- Production Posting - Using the bill of materials, you can post production of the finished goods. For more information, see Production Posting.
- Checklists and Processing Logs - The Implementation Checklists and Processing Logs for this module are available in the Workflow module. To view the checklists and logs, use the WF Checklist Template form. If you do not have the Workflow module, use the WF Templates report (VA Reports menu) to view or print the checklists and logs.