2. Save your changes 3. Unselect Hold
4. Click on Release button
xxCPU0001 (FIFO / PNN): Need to assign Receipt Nbr because item is FIFO
xxDESKT0001 (Standard / SNRF): Not allowed to create cost Only Adjustments, Issue item out then receive item back in.
xxLAPTOP001 (Specific / SNRF): Need to enter a single line for each serial Nbr.
xxMOUSE001 (FIFO / NN): Need to assign Receipt Nbr because item is FIFO
xxROUTER001 (Average / PLNRE): no receipt required being average cost method, assign lot number
Issue Inventory
Learning Objects:
• Learn how to issue Inventory
Issue Inventory
The system automatically generates issues, which allow you to account for inventory withdrawals and returns, upon release of sales orders, credit and debit memos, and kit assembly documents. You can create, view, or modify issues using the Issues screen (screen ID IN302000).
You can use a direct issue not linked to any sales order or memo in the following situations:
• To remove expired or damaged goods
• To return excessively issued goods
If an issue is the result of an employee picking items to fill a sales order, the extended cost amount usually debits a cost of goods sold account and credits an inventory account, with the accounts determined by the posting class of the stock item.
With a direct issue, the extended cost amount decreases the inventory account balance and increases the balance of the offset account. The chosen offset account depends on the reason of the transaction; in any case, it’s a specific expense account. Reason codes used for issues should provide offset accounts for specific types of issues.
The system automatically inserts the default reason code for direct issues specified on the Inventory Preferences screen, but you can choose a more relevant reason code.
If the issue is made for kit assembling, the offset account is usually an expense account such as Material Expense. If the issue is made to remove expired goods, the offset account might be Expired Goods’ Costs.
If an inventory item was issued in excessive quantity and is being returned, or if an inventory withdrawal was incorrect or not needed, you can create a return transaction and specify a reason code for it. A return to inventory increases the balance of the inventory account and decreases the balance of the offset account specified by the reason code.
Field Descriptions:
Field Description
Reference Nbr. The unique reference number of the receipt, which the system automatically assigns according to the numbering sequence selected for receipts on the Inventory
Preferences screen.
Status The current status of the issue document. The following options are available:
•
On Hold: Indicates that the document is a draft and can be edited manually or deleted. A document with this status cannot be released.•
Balanced: Means that the document transactions are balanced. This document can be modified, deleted, or released.•
Released: Indicates that the document has been released. Documents with this status cannot be edited or deleted.Hold A check box that you select to give the receipt the On Hold status. Clear the check box to save the receipt with the Balanced status.
Date The date when the receipt was created. All transactions included in this document will have this transaction date.
Post Period The financial period to which the transactions recorded in the document should be posted.
External Ref. The external reference number of the inventory receipt (for example, the reference number used by the vendor).
Description A brief description of the inventory issue or its transactions.
Total Qty. The total quantity of inventory items, which the system calculates automatically, for the document.
Control Qty. The manually entered quantity of inventory items. Control Qty. is available only if the Validate Document Totals on Entry option is selected on the Inventory Preferences screen. If the Control Qty. and Total Qty. values do not match, the system generates a warning message and the issue cannot be saved.
Total Cost The total amount, calculated as a sum of amounts for all inventory issue operations included in this issue document.
Control Cost The manually entered summary amount for all specified inventory items. Control Amount is available only if the Validate Document Totals on Entry option is selected on the Inventory Preferences screen. If the Control Amount and Total
Amount values do not match, the system generates a warning message and the issue cannot be saved.
Transaction Details Tab
Branch The branch of the inventory issue operation.
Field Description
Tran. Type The type of inventory issue transaction. Select one of the following types:
•
Issue: Indicates that the specified quantity of the inventory item is issued from the warehouse. The quantity of issued inventory will be subtracted from the quantity of inventory available at the warehouse.•
Return: Indicates that the specified quantity of the inventory item was returned to the warehouse. The quantity of returned inventory will be added to the quantity of inventory item available at the warehouse.•
Invoice: Indicates that the specified quantity of the inventory item is issued based on an invoice; the system generates this type of transaction on release of appropriate documents. The quantity of inventory in this transaction will be subtracted from the quantity of the item available at the warehouse. The batch of relevant journal entries will be generated and posted to the General Ledger module.•
Debit Memo: Indicates that the specified quantity of the inventory item is issued from the warehouse based on a debit memo; the system also generates this type of transaction on release of appropriate documents.The quantity of the item in this transaction will be deducted from the quantity of the item available at the warehouse. The batch of relevant journal entries will be generated and posted to the General Ledger module.
•
Credit Memo: Indicates that the specified quantity of the inventory item is received at the warehouse based on a credit memo; this type of transaction is also generated by the system on release of appropriate documents. The quantity of the item in this transaction will be added to the quantity of inventory available at the warehouse. The batch of relevant journal entries will be generated and posted to the General Ledger module.Inventory ID The identifier of the inventory item. Inventory items are maintained on the Stock Items (IN.20.25.00) screen.
Subitem The subitem code of the inventory item if subitems are used in your system and the Use Subitem option is selected on the Inventory Preferences screen. To specify subitems, click the Bin/Lot/Serial action on the table toolbar. If multiple subitems were specified, this column displays <SPLIT>.
Warehouse The warehouse of the inventory issue operation.
Location The warehouse location in question.
Quantity The quantity of the specified inventory (in the units of measure indicated below).
UOM The unit of measure used for the inventory item.
Unit Cost The price of the specified unit of this inventory item.
Ext. Cost The extended price of the specified inventory item, calculated automatically as the unit price multiplied by the quantity of the inventory item involved in the inventory issue operation. The value can be edited manually later—for example, to round up or down the value.
Unit Cost The cost of the specified unit of this inventory item.
Ext. Cost The extended cost of the specified inventory item. An extended cost is calculated automatically as the unit cost multiplied by the quantity of units involved in this transaction. The value can be edited manually later—for example, to round up the number.
Lot/Serial Nbr The lot or serial number of the inventory item. To specify the lot or serial numbers of the particular units, click Bin/Lot/Serial on the table toolbar. If multiple serial or lot numbers were specified, the column displays<SPLIT>.
Expiration Date The expiration date of the specified inventory item.
Reason Code The reason code for the inventory transaction.
Field Description
Project The project with which this transaction is associated, or the code indicating that this transaction is not associated with any project; the non-‐project code is specified on the Project Preferences (PM.10.10.00) screen. This column appears if the Projects module has been activated.
Project Task The particular task of the project with which this transaction is associated. This column appears if the Projects module has been activated.
Description A brief description of the transaction.
Financial Details Tab
Batch Nbr. The reference number of the batch generated for the issue. Click the number to open the Journal Transactions (GL.30.10.00) screen and view the details of the transactions.
Branch The branch that issues the products.
Scenario
The company has decided to issue out laptops from in inventory to employees.
5. Open Issues screen (screen ID IN302000): Distribution > Inventory > Work Area > Enter > Issues Replace XX with the Initials of your first and last name.
Screen Section Field Value
Summary Date {Todays Date}
Summary Post Period {Default Period}
Summary Description xx: Frist Issue
Transaction Details Inventory ID XXLAPT0001
Transaction Details Subitem 0-‐0
Transaction Details Warehouse WHOLESALE
Transaction Details Location R01C01L04
Transaction Details Quantity 10
Transaction Details UOM PC
Transaction Details Unit Price 0.00
Transaction Details Ext. Price 0.00
Transaction Details Unit Cost 1024.45
System only makes a GL entry for the cost based on the posting settings.
6. Save your changes 7. Unselect Hold
8. Click on Release button