Inventory Maintenance Adjustments

Inventory Maintenance Transactions allow you to adjust (add or draw) on-hand Inventory quantities.

Inventory Maintenance Types are a convenient way to assign GL accounts to specific types of inventory adjustments. Using Maintenance Types when entering inventory adjustments is handy, although not required.

Inventory Maintenance Adjustments

1. Enter header info

Navigate to Warehouse Management ➤ Maintenance. Click the + symbol to create a new record.

Enter the header level data (see below for definitions).

Click the Maintenance Type drop-down if you want to select from the list.

If you don't select an option from this list, then you will need to enter the GL Account(s) manually.

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  • Date: The date on which the transaction will be posted to the General Ledger, in mm/dd/yy format.
  • Memo and Reference: Optionally enter notes about the transaction, usually a description of why it was needed.
  • Part Number and Product Name: The Part Number and Product Name of the item being adjusted. Enter only one of these and the other will auto-populate.
  • Unit of Measure: By default, the Product's base (1x) UM will be used. If alternate UM's have been established for the Product, you may change to UM prior to entering the quantity to be adjusted.
  • Warehouse Name: Indicates the Warehouse where the Inventory Maintenance transaction occurred.
  • Qty Available (not modifiable): The number of units currently in stock in the selected Warehouse.
  • Qty Add +/Draw -: The number of units that you want to add or remove from Inventory. To add to Inventory, make the number positive; to draw from Inventory, make the number negative. This determines the Type field (see below). If the Product is Serialized, you will be prompted to add or remove Serial Numbers. See Serialization below.
  • Type (not modifiable) - Add, Draw, or Assembly Build. This is determined when you enter the quantity.
  • Lot Number: The Lot Number for the transaction. Only a single lot can be specified. If the draw quantity exceeds the available quantity in the oldest lot, the system will deplete lots on a FIFO basis until the entire quantity is drawn.
    • When adding inventory, a new Lot will be created per the syntax entered in Administration > System Setup > Inventory & Marketing > New Lot Prefix
    • When drawing inventory, type the @ symbol to choose from a list of available lots in the indicated Warehouse.
  • Location: This is the Location of the inventory lot within the Warehouse.
  • Unit Cost: The cost for the items being adjusted.
    • For Inventory ADD, the Unit Cost will be the Default PO Cost indicated on the Product record.
    • For Inventory DRAW, the Unit Cost will be the Average Cost and inventory will be drawn on a FIFO basis, unless a Lot is specified. If a Lot is specified, the actual Lot Value will be used for the cost.
  • Total Value: The total value of the adjustment.
  • Inventory Asset GL Account: This is the account that will be debited (for adds) or credited (for draws). This happens automatically!
  • Maintenance Type: Select from this list to auto-populate the GL Account that will offset the adjustment. See above for instructions on how to create this list.
  • Serialization: If the Product is Serialized, you will be prompted to select Serial Numbers for addition or withdrawal once you specify an add (draw) value.
    • For draws, the table shows all available Serial Numbers.
    • For adds, AcctVantage will auto-create the correct number of serial numbers if the product is marked for Automatic Serial Number Generation, otherwise the user must manually enter each one.

2. Select the Maintenance Type

Select the Maintenance Type to use. The items in this list are pulled from the Maintenance Type list view which is illustrated by expanding the Maintenance Type Setup section below.

Maintenance Type Setup
Create a new Maintenance Type

Navigate to Warehouse Management ➤ Maintenance Types. Click the + symbol to create a new record.

Enter the data listed below and then OK to save the record when you're finished.

  • Name: Enter a name for the Maintenance Type. The name entered here will be how the item will display in the list that you'll choose from when entering inventory adjustments.
  • GL Account Code and GL Account Name: Enter either the GL Account Name or Code. This account will be used to offset the inventory adjustment.
  • Memo:  Enter a memo to describe how the Maintenance Type should be used. This field is optional.
Maintenance Type entry screen
Maintenance Types list view

Here you can see a list of all of the available Inventory Maintenance Types.

Maintenance Type list view
  • GL Distribution: In this section you will need to balance the adjustment with a GL Account. The easiest way to do this is to select from the Maintenance Type menu although the system does allow you to manually enter GL Account(s) if you choose.
    • The numbers in the Amount column should always be entered as positive. The system will determine when the GL Account(s) will be debited or credited based on the type of transaction.
    • GL Accounts entered here will be debited (for draws) or credited (for adds). Note: this is converse to the Inventory Asset GL Account noted above.

After you've entered the relevant information, verify that the Amount Remaining to Distribute = $0.00. If it does, click OK to save the record.

If you need to add additional GL Accounts, you can do that manually by clicking the + symbol in the GL Distribution area.

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3. Save the Inventory Adjustment

After you select the Maintenance Type, you can see the GL account and amount in the GL Distribution area. At this point, the transaction should be in balance. Once you verify the transaction is in balance, click OK to save it.

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