Inventory & Marketing tab
This is an overview of the window.
1. Inventory Setup
Cost Adjustment: The GL Account Code to which AV records changes (if necessary) in Inventory Valuation during the Voucher process (i.e. entering of the Vendor invoice).
- If Inventory was Invoiced by the Vendor at a cost different from what was entered on the Purchase Order, this GL Account is used to record the difference.
- This GL Account is only used if the Inventory Lot in question has already been relieved (fully or partially) from Inventory.
- If the Inventory Lot is still fully in stock at the time the Vendor’s Invoice is Vouchered, then the appropriate Inventory Asset Account will be adjusted to reflect the true cost of the items.
- Scrap Default: The GL Account Code that records the value of Inventory that has been scrapped. It is the default account for recording a draw via an Inventory Maintenance Transaction.
- Warehouse Transfer Freight: The GL Account Code that records costs when a Freight Amount is entered on a Warehouse Transfer.
- Accrued Inventory Payable: The GL Account Code that records the value of Inventory that has been received but the Vendor Invoice has not yet been Vouchered. Once the Vendor Invoice has been Vouchered, the Accrued Inventory Payable account is debited and Accounts Payable is credited.
- External Inventory Adjustment: The GL Account Code that is used to offset imported Physical Inventory Adjustments.
- New Lot Prefix: This is the prefix for new Inventory Lots other than those received via Purchase Order.
- PO Lot Prefix: This is the prefix for all new Inventory Lots that have been received via Purchase Order.
- Costing Method: Displays the method for Inventory Valuation that was chosen during Implementation. It is either Moving Average or FIFO. This is not modifiable after the method is initially selected.
- Work Order Pass Through: The GL Account that gets credited (for the Recipe Components) and debited (for the Finished Goods) when an Assembly is built via a Work Order.
- Exploded WO Balancing: The GL Account that gets debited (for the Recipe Components) and credited (for the Finished Goods) when an Assembly Product's Work Order is exploded.
2. Exclude from Available
The Exclude from Available area determines how your "Qty Available" for inventory is calculated. Beginning with the Real Time Qty On Hand, each of the selected (checkbox checked) Qty Reserves is subtracted to calculate the Qty Available.
In this manner you will never have a negative "Real Time On Hand" value, but may have a negative Qty Available as your demand may exceed current on-hand quantities.
- Reserved Sales: Excludes items from being reserved for Sales Orders.
- Reserved Warehouse Transfer: Excludes items from being reserved for Warehouse Transfers.
- Reserved Data Entry: Excludes items from being reserved for Data Entry.
- Reserved Backorder: Excludes items from being reserved for Backorders.
- Reserved Work Order: Excludes items from being reserved for Work Orders.
3. Decimal Precision
- Cost: The number of digits that will display to the right of the decimal point on all expense items.
- Sell: The number of digits that will display to the right of the decimal point on all sales items.
- Quantity: The number of digits that will display to the right of the decimal point on all quantity items.