You can enter three types of inventory transactions: adjustments, sales, and purchases.
Adjustment and purchase transactions are updated online; sales transactions are updated when you post. When you enter transactions, the default value in the Cost field depends on the type of transaction with which you are working.
If you track serial or lot numbers, one of four screens appears when you enter an adjustment, a purchase, or a sale. (The item must have serial-tracking or lot-tracking status.)
• If you are working with a lotted item, the Lot Entry window appears.
• If you are working with a serialized item, the Serial Number Entry window appears.
• If you are working with both a serialized and lotted item and you elected to sort by serial number then lot, the Serial/Lot Number Entry window appears.
• If you are working with both a serialized and lotted item and you elected to sort by lot then serial number, the Lot/Serial Number Entry window appears.
Adjustments
Adjustment transactions correct differences in quantity, such as might be found during a physical count. Adjustment transactions are also used to adjust quantities and costs of transactions posted from other applications.
When you enter an adjustment to increase the quantity of an item, the on-hand and available quantities increase, and the last cost of the item appears in the Cost field but can be changed.
When an adjustment to increase the quantity is made to a serialized item, the serial number cannot exist in the INSNxxx (Serial Numbers) file; you must enter a new serial number and cost. When an adjustment to increase the quantity is made to a lotted item, you must enter the number, quantity, and unit cost of each lot.
When you enter an adjustment to decrease the quantity of an item, the on-hand and available quantities decrease, and the costing method you are using (FIFO, LIFO, average, or standard) appears in the Cost field but can be changed.
When an adjustment to decrease the quantity is made to a serialized item, the serial number must be in the INSNxxx file and must have available status; the cost comes from the INSNxxx file and cannot be changed. When an adjustment to decrease the quantity is made to a lotted item, you must enter a lot number that is in the file, the quantity of the lot, and the cost.
Sales
Sales transactions are used to process customer sales. If you do not have the Accounts Receivable/Sales Order applications, use the Sale option on the Inventory Transactions screen to enter new customer orders, verify orders, invoices, and miscellaneous credits.
• New Order: Use the new order status to record sales orders shipped at a later date. A new order increases the quantity committed and decreases the quantity available.
When you enter a new order, the costing method you are using (FIFO, LIFO, average, or standard) appears in the Cost field and cannot be changed.
• Verify Order: Use the verify order status to record goods shipment for sales orders. A verify order status decreases the quantity committed, increases the quantity in use, and does not affect the quantity available.
When you enter a verify order, the costing method you are using (FIFO, LIFO, average, or standard) appears in the Cost field and cannot be changed.
When you enter a verify order for a serialized item, the serial number must be in the INSNxxx file and have available status. When you enter a verify order for a lotted item, you must enter a lot number that is on file and the quantity.
• Invoice: Use the invoice status to record sales activity. Sales invoices are items that are sold and shipped at the same time. An invoice combines the new order and verify order statuses, increases the quantity in use, and decreases the quantity available.
When you enter an invoice, the costing method you are using (FIFO, LIFO, average, or standard) appears in the Cost field and cannot be changed.
When you enter an invoice for a serialized item, the serial number must be in the INSNxxx file and have available status. When you enter an invoice for a lotted item, you must enter a lot number that is on file and the quantity.
• Miscellaneous Credit: Use the miscellaneous credit status when a customer returns goods to you. A miscellaneous credit decreases the quantity in use and increases the quantity available.
When you enter a miscellaneous credit, the costing method you are using (FIFO, LIFO, average, or standard) appears in the Cost field, but you can change it.
When you enter a miscellaneous credit for a serialized item, either the serial number cannot be in the INSNxxx file or if the serial number is in the INSNxxx file, it must have sold status. If the serial number is in the INSNxxx file, you cannot change the cost; if it is not, you must enter a cost. When you enter a miscellaneous credit for a lotted item, enter a lot number, the quantity, and the cost.
Purchases
Purchase transactions are used to process purchases you make from vendors.
Purchasing activity is usually performed through the Accounts Payable/Purchase Order applications. If you do not have these applications, you can purchase items by entering a new order, goods received, invoices, and miscellaneous debits.
• New Order: Use the new order status to place orders that will be sent to you at a later date. A new order increases the quantity on order and does not affect the quantity available.
When you enter a new order, the last cost of the item appears in the Cost field, but you can change it.
• Goods Received: Use the goods received status to update the quantity and cost of the goods you received from the vendor. Goods received increase the quantity on hand, decrease the quantity on order, and increase the quantity available.
When you enter goods received, the last cost of the item appears in the Cost field, but you can change it.
When you enter goods received for serialized items, you must enter a new serial number, and you can choose whether or not to generate serial numbers.
When you enter goods received for lotted items, enter a lot number, the quantity, and the cost.
• Invoice: Use the invoice status to record purchases of inventory items that were not placed on order. An invoice increases the quantity on hand and the quantity available.
When you enter an invoice, the last cost of the item appears in the Cost field, but you can change it.
When you enter an invoice for serialized items, enter a new serial number, and choose whether or not to generate serial numbers. When you enter an invoice for lotted items, enter a lot number, the quantity, and the cost.
• Miscellaneous Debit: Use the miscellaneous debit status when you return goods to a vendor. A miscellaneous debit decreases the quantity on hand and the quantity available.
When you enter a miscellaneous debit, the average cost appears in the Cost field, but you can change it.
When you enter a miscellaneous debit for serialized items, the serial number must be in the INSNxxx file with sold status; you cannot enter a cost. When you enter a miscellaneous debit for lotted items, enter a lot number, the quantity, and the cost.
The table below illustrates how adjustments, sales, and purchases affect quantities. Both adjustment and purchase quantities are updated immediately;
sales quantities are not updated until you post transactions.