Inventory Maintenance & Adjustments

The Inventory Maintenance function allows you to manually add or (draw) Products from Inventory.

AcctVantage 2017 introduces web browser and bar code scanning functions for Inventory Adjustments.  Refer to this article for more information!

New Feature for AV 2018 -> If you have an existing Lot that you want to ADD inventory to, you are in luck! You can now add inventory to existing Lots!

See this article for more information.

Set your Default Inventory Scrap Account

  1. Navigate to Administration ➤ System Setup and select Inventory & Marketing from the drop-down list.
  2. Enter an Expense Account to use for Scrap Default.
    • This account will auto-populate on the Inventory Maintenance record when you enter a Quantity to draw from Inventory.

1. Create a New Inventory Maintenance Transaction

Navigate to the Warehouse Management ➤ Maintenance window (Inventory ➤ Maintenance window in AV 2015 or earlier).

Create a New Inventory Maintenance Transaction

2. Create a new Inventory Maintenance record.

Click the Create New Record icon or use the keyboard shortcut Command + N.

3. The Inventory Maintenance record.

  • Date: The date on which Inventory Maintenance occurred, in MM/DD/YY format.
  • Memo:  A note about the transaction, usually a description of why it was needed.
  • Reference: This is a secondary text field similar to the Memo field.
  • ID (not modifiable) - An internal number assigned by AcctVantage.  
  • Part Number - The Part Number of the Product involved. To see a list of part numbers from which to choose, type in the first few letters or the “@” symbol, then press tab.
  • Product Name - The name of the item. Enter either this or the Part Number.
  • 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 any Qty.
  • Warehouse Name - Indicates the Warehouse where the Inventory Maintenance transaction occurred. This is modifiable only if multiple Warehouses are associated with the Product.
  • Type (not modifiable) - Add, Draw, or Assembly Build. This is determined when you choose to add to or draw from Inventory. Once it is set, it cannot be changed.
  • Location - This is the Location of the product within the Warehouse.
  • Lot No. - The Lot Number of the Product to be drawn. When adding a Product via Inventory Maintenance a new Lot will be created. You can not add to an existing Lot. You can type the @ symbol to be presented with a list of Lots per the indicated Warehouse.
  • Qty Add +/Draw - - The number of items 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 above). If the Product is Serialized, you will be prompted to add or remove Serial Numbers. See Serialization below.
  • Unit Cost - When adding Inventory the Unit Cost will be the Default PO Cost indicated on the Product record. When drawing Inventory the Unit Cost will be the Average Lost Cost. The Total Value field (see below) will change based on the Qty x Unit Cost.
  • Total Value - The total value of the add (draw.)
  • Qty Available (not modifiable) - The number of units currently in stock for the affected lot.
  • 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.

After you've entered the relevant information, see that the Amount Remaining to Distribute = $0.00. If it does, click OK to save the record and don't forget to Post!