Inventory Transactions

Inventory transactions are used to update your item stock quantities or move items between inventory spaces. The inventory transaction process requires:

  1. Adding an inventory transaction batch
  2. Adding an inventory transaction or multiple transactions to the batch
  3. Validating the inventory transaction batch (only required if using control value options)
  4. Posting the inventory transaction batch

The following inventory transactions types are available: 

  • Issue - Remove items from stock to deliver to customers or personnel. Issue transactions decrease item stock.
  • Receipt/PO Receipt - Items received from a supplier. Receipt transactions increase item stock.
  • Restock - Re-adding issued items to stock. Restock transactions increase item stock.
  • Transfer - Move items from one inventory space to another. A transfer in transaction increases item stock. A transfer out transaction decreases item stock.
  • Adjustment - Adjusts the item quantity in stock. Adjustment transactions can increase or decrease item stock.
  • Return - Return received items to suppliers. Return transactions decrease item stock.
  • Check In/Check Out - Check an item in or out of inventory.

Add Inventory Transaction Batch

To add a new transaction batch:

  1. In the Main Menu, search for and select Inventory Transaction Batches. The Inventory Transaction page opens.
  2. Click Add. The Add Inventory Transaction Batch window opens.
  3. I the Transaction Date field, select the date for the batch. This date defaults into the Date field for any transactions within the batch.
  4. Check Invoice Entry to enter invoice details for the inventory transactions. See Invoice Entry Transactions for more information.
  5. In the Description field, enter the name of the batch.
  6. Expand the Advanced section. Check the following check boxes if you want to use transaction batch controls. Transaction batch controls stop you from posting the batch unless the values in the batch match the values entered below.
    • Use Control Units - If checked, a Control Units field is available. Enter the number of units the batch must contain before you can post the batch.
    • Use Control Items - If checked, a Control Items field is available. Enter the number of items the batch must contain before you can post the batch.
    • Use Control Amount - If checked, a Control Amount field is available. Enter the amount the batch must contain before you can post the batch.
  7. Click Save (disk icon). The information saves and the Edit Inventory Transaction Batch window opens.
  8. Select the Details tab.
  9. Click Add Issue or click the arrow next to the Add Issue button to select the desired inventory transaction. See the Issue Transactions, Receipt and PO Receipt Transactions, Restock Transactions, Transfer Transactions, Adjustment Transactions, Return Transactions and Check In and Check Out Transactions sections below for details on each transaction.
  10. Repeat step 8 for each item you want to include in the batch. You can have different transaction types (Issue and Receipt for example) within the same batch.
  11. Click OK.

After you create the inventory transaction batch, you then validate and post the batch. Once you post the batch, the inventory values update based on the transaction information.

See the Inventory Transaction Security section and the Inventory Transaction Troubleshooting section for additional information about inventory transactions.

Add Inventory Transactions to the Batch

Once the inventory transaction batch is created, you add one or more transactions to the batch. Click on the type of transaction you would like to add for instructions.

Issue transactions are taking an item from a location and providing it to a customer or personnel. To create an issue transaction:

  1. In the Edit Inventory Transaction Batch window > Details tab, click Add Issue. The Add Issue Inventory Transaction Detail window opens.
  2. Enter the necessary information:
    • Item - Item for the inventory transaction.
    • Lot/Serial - Lot number or serial number for the item. Only available if Lot/Serial is checked for the item on Edit Inventory Item. 
    • Space/From - Inventory space the item is issued from. Defaults to the space selected for the inventory item.
    • Units - Number of selling units for the transaction.
    • U/M - Selling unit of measure for the item.
    • Unit Cost - Unit cost for the item at the time of issue. See Average Cost for details about the cost that may default into this field.
    • Amount - Total cost of the item at the time of issue. If you enter a value into the Amount field, the unit cost automatically calculates.
    • Department - Department for the transaction. 
    • Reference - Additional information for the item. This is for informational purposes only.
    • Date - Date for the transaction. You must enter a date within an open inventory fiscal period. Defaults to the date entered on the Add Inventory Transaction Batch window.
    • Event - Event the item is issued to. 
    • Order - Order that contains the issued item. 
    • Supplier/Account - Supplier for the item.
    • Asset - Asset for the inventory item. 
    • Rental - If checked, the item is a rental item. 
      • Start Date - Date the rental begins. This is for informational purposes only. Inventory updates as if the item is issued.
      • End Date - Date the rental ends. This is for informational purposes only. Inventory updates as if the item is issued. When the item is returned, add it back into inventory using a Restock transaction.
  3. Click OK.

Receipt transactions receive items into your inventory from a supplier. You can receive items ordered without a purchase order and/or items ordered with a purchase order.

Receive an Item Without a Purchase Order

To receive an item that does not have a purchase order:

  1. In the Edit Inventory Transaction Batch window > Details tab, click the arrow next to Add Issue. 
  2. Select Add Receipt. The Add Receipt Inventory Transaction Detail window opens.
  3. Enter the necessary information:
    • Item - Item for the inventory transaction.
    • Lot/Serial - Lot number or serial number for the item. Only available if Lot/Serial is checked for the item on Edit Inventory Item. 
    • Supplier/Account - Supplier for the item.
    • Space/From - Inventory space where the received item is stored. Defaults to the space selected for the inventory item.
    • Date - Date for the transaction. You must enter a date within an open inventory fiscal period. Defaults to the date entered on the Add Inventory Transaction Batch window.
    • Units - Number of units to receive. 
    • U/M - Purchasing unit of measure for the item.
    • Unit Cost - Purchasing unit of cost for the item. If you enter a value into the Amount field, the unit cost automatically calculates. 
    • Amount - Total cost of the item at the time of receipt. If you enter a value into the Amount field, the unit cost automatically calculates.
    • Reference - Additional information for the item. This is for informational purposes only.
    • Rental - If checked, the item is a rental item.  
      • Start Date - Date the rental begins. This is for informational purposes only. Inventory updates as if the item is received.
      • End Date - Date the rental ends. This is for informational purposes only. Inventory updates as if the item is received. If the item is returned, add it back into inventory using a Return transaction.
  4. Click OK.

Receive an Item With a Purchase Order

You must have a license to the Purchasing module to receive items on purchase orders. You can only receive purchase order items that are on an Issued purchase order. Price checking takes place if the Price Checking check box is checked on the Purchasing Configuration page. The Allow Receipt/PO Receipt Transactions access privilege controls who can receive more than the ordered quantity for an item.

To receive an item on a purchase order:

  1. In the Edit Inventory Transaction Batch window > Details tab, click the arrow next to Add Issue.
  2. Select Add PO Receipt. The Add PO Receipt Inventory Transaction Detail window opens.
  3. In the Date field, enter the date for the receipt.
  4. Expand the Add PO Receipt to Inventory Transaction Details section.
  5. Select the purchase order item you need to receive into inventory. You can use the filters at the top of the page to search for a particular item. 
  6. Click OK.

Restock transactions return an item from a customer or personnel and return it back to the inventory item space. To create a restock transaction:

  1. In the Edit Inventory Transaction Batch window > Details tab, click the arrow next to Add Issue.
  2. Select Add Restock. The Add Restock Receipt Inventory Transaction Detail window opens.
  3. Enter the necessary information:
    • Item - Item for the inventory transaction.
    • Lot/Serial - Lot number or serial number for the item. Only available if Lot/Serial is checked for the item on Edit Inventory Item. 
    • Space/From - Inventory space the item is restocked to. Defaults to the space selected for the inventory item.
    • U/M - Stocking unit of measure for the item.
    • Units - Number of stocking units for the transaction.
    • Unit Cost - Unit cost for the item at the time of restock. If you enter a value into the Amount field, the unit cost automatically calculates.
    • Amount - Total cost of the item at the time of restock. If you enter a value into the Amount field, the unit cost automatically calculates.
    • Department - Department for the transaction. 
    • Reference - Additional information for the item. This is for informational purposes only.
    • Date - Date for the transaction. You must enter a date within an open inventory fiscal period. Defaults to the date entered on the Add Inventory Transaction Batch window.
    • Event - Event the restocked item is from.
    • Order - Order with the restocked item.
    • Supplier/Account -  Supplier for the item.
    • Rental - If checked, the item is a rental item. When the transaction posts, the item's available balance increases but the total amount in inventory remains the same. 
      • Start Date - Date the rental begins. This is for informational purposes only. Inventory updates as if the item is restocked.
      • End Date - Date the rental ends. This is for informational purposes only. Inventory updates as if the item is restocked. When the item is issued, remove it from inventory using an Issue transaction.
  4. Click OK.

Transfer transactions move items between inventory locations. To create a transfer transaction:

  1. In the Edit Inventory Transaction Batch window > Details tab, click the arrow next to Add Issue.
  2. Select Add Transfer. The Add Transfer Receipt Inventory Transaction Detail window opens.
  3. Enter the necessary information:
    • Item - Item for the inventory transaction.
    • Lot/Serial - Lot number or serial number for the item. Only available if Lot/Serial is checked for the item on Edit Inventory Item. 
    • Space/From - Inventory space to transfer the item from.
    • To - Inventory space to transfer the item to.
    • Units - Number of stocking units for the transaction.
    • Unit Cost - Unit cost for the item at the time of transfer. If you enter a value into the Amount field, the unit cost automatically calculates. Defaults to the average unit cost.
    • Amount - Total cost of the item at the time of transfer. If you enter a value into the Amount field, the unit cost automatically calculates.
    • Reference - Additional information for the item. This is for informational purposes only.
    • Event - Event the transfer is related to. 
  4. Click OK.

Adjust transactions update the item quantity in stock. To create an adjustment transaction:

  1. In the Edit Inventory Transaction Batch window > Details tab, click the arrow next to Add Issue.
  2. Select Add Adjustment. The Add Adjustment Receipt Inventory Transaction Detail window opens.
  3. Enter the necessary information:
    • Space/From - Inventory space for the adjusted item. Defaults to the space selected for the inventory item.
    • Item - Item for the inventory transaction.
    • Lot/Serial - Lot number or serial number for the item. Only available if Lot/Serial is checked for the item on Edit Inventory Item. 
    • Units - Number of stocking units for the transaction. Use a positive value to increase inventory and a negative value to decrease inventory. You can only adjust Lot/Serial controlled items by 1 or -1. 
    • Unit Cost - Unit cost for the item at the time of adjustment. If you enter a value into the Amount field, the unit cost automatically calculates. Defaults to the average unit cost.
    • Amount - Total cost of the item at the time of adjustment. If you enter a value into the Amount field, the unit cost automatically calculates.
    • Date - Date for the transaction. You must enter a date within an open inventory fiscal period. Defaults to the date entered on the Add Inventory Transaction Batch window.
    • Reference - Additional information for the item. This is for informational purposes only.
    • Department - Department for the transaction. 
    • Event - Event the adjustment is related to. 
  4. Click OK.

Return transactions are sending back items from your inventory from a supplier. To create a return transaction:

  1. In the Edit Inventory Transaction Batch window > Details tab, click the arrow next to Add Issue.
  2. Select Add Return. The Add Return Receipt Inventory Transaction Detail window opens.
  3. Enter the necessary information:
    • Item - Item for the inventory transaction.
    • Lot/Serial - Lot number or serial number for the item. Only available if Lot/Serial is checked for the item on Edit Inventory Item. 
    • Supplier/Account - Supplier to receive the returned item. 
    • Space/From - Inventory space the returned item is from. Defaults to the space selected for the inventory item.
    • Units - Number of purchasing units to return.
    • U/M - Purchasing unit of measure for the item.
    • Unit Cost - Unit cost for the item at the time of purchase. If you enter a value into the Amount field, the unit cost automatically calculates.
    • Amount - Total cost of the item at time of purchase. If you enter a value into the Amount field, the unit cost automatically calculates.
    • Date - Date for the transaction. You must enter a date within an open inventory fiscal period. Defaults to the date entered on the Add Inventory Transaction Batch window.
    • Reference - Additional information for the item. This is for informational purposes only.
    • Rental - If checked, the item is a rental item. 
      • Start Date - Date the rental begins. This is for informational purposes only. Inventory updates as if the item is returned.
      • End Date - Date the rental ends. This is for informational purposes only. Inventory updates as if the item is returned. 
    • PO Line - Purchase order line for the item. 
    • Purchase Order - Purchase order number for the item.
    • Purchase Order Search - Purchase order search for the item.

  4. Click OK.

Check in and check out transactions check items in and out of inventory. To create a check in or check out transaction:

  1. In the Edit Inventory Transaction Batch window > Details tab, click the arrow next to Add Issue.
  2. Select Check In or Check Out. The Check In window or the Check Out window opens.
  3. Enter the necessary information:
    • Item - Item for the inventory transaction.
    • Lot/Serial - Lot number or serial number for the item. Only available if Lot/Serial is checked for the item on Edit Inventory Item. 
    • Space/From - Inventory space for the item. Defaults to the space selected for the inventory item.
    • Units - Number of selling units to check in or out. 
    • U/M - Selling unit of measure for the item. 
    • Unit Cost - Unit cost for the item at the time of check in or check out. If you enter a value into the Amount field, the unit cost automatically calculates.
    • Amount - Total cost of the item at time of check in or check out. If you enter a value into the Amount field, the unit cost automatically calculates.
    • Department - Department for the transaction. 
    • Reference - Additional information for the item. This is for informational purposes only.
    • Date - Date for the transaction. You must enter a date within an open inventory fiscal period. Defaults to the date entered on the Add Inventory Transaction Batch window.
    • Event - Event the item is checked in or checked out from.
    • Order - Order that contains the checked in or checked out item. 
    • Supplier/Account - Supplier for the item.
    • Asset - Asset for the inventory item. 
    • Rental - If checked, the item is a rental item. 
      • Start Date - Date the rental begins. This is for informational purposes only. Inventory updates as if the item is checked out or checked in.
      • End Date - Date the rental ends. This is for informational purposes only. Inventory updates as if the item is checked out or checked in. 
  4. Click OK.

With invoice entry transactions, you can enter invoice details at the same time as the inventory transactions. This allows you to receive and return items at the same time as entering the invoice information. Once the transaction batch is posted, then vouchers are automatically created for the invoices and available in the Unbatched Vouchers page. To create in invoice entry transaction batch:

  1. Click the Inventory Transaction Batches link from the Main Menu. The Inventory Transaction page opens.
  2. Click the Add button. The Add Inventory Transaction Batch window opens.
  3. Select the date for the batch from the Transaction Date field. This date defaults into the Date field for any transactions within the batch.
  4. Check the Invoice Entry check box.
  5. Enter the name of the batch into the Description field.
  6. Expand the Advanced section. Check the following check boxes if you want to use transaction batch controls. Transaction batch controls stop you from posting the batch unless the values in the batch match the values entered below.
    • Use Control Units - If checked, a Control Units field is available. Enter the number of units the batch must contain before you can post the batch.
    • Use Control Items - If checked, a Control Items field is available. Enter the number of items the batch must contain before you can post the batch.
    • Use Control Amount - If checked, a Control Amount field is available. Enter the amount the batch must contain before you can post the batch.
  7. Click Save (disk). The information saves and the Edit Inventory Transaction Batch window opens.
  8. Select the Invoices tab.
  9. Click the Add button. The Add Invoice window opens.
  10. Enter the necessary information for the invoice:
    • Supplier - Supplier account for the voucher. Use @ONETIM for one-time suppliers. You must have an existing account with @ONETIM as the account code to use @ONETIM.
    • Invoice - Supplier's invoice number. The invoice number will be duplicate checked for the selected supplier. You can enter the same invoice number with a different invoice date. A warning message displays if the same invoice number is entered. If Require Invoice on Voucher is checked on Accounts Payable Configuration - Vouchers and 1099 Values Tab, the invoice number is required.
    • Amount - Gross invoice amount.
    • Discount Amount - Discount amount to subtract from the gross invoice amount.
    • Invoice Date - Date of the invoice.
    • Due Date - Date payment is due. Date is calculated from the Invoice Date and the selected terms.
    • Net Date - Date the net amount is due. Date is calculated from the Invoice Date and the selected terms.
    • Reference - Additional information, if needed.
  11. Expand the Details tab.
  12. Click the arrow next to the Add Receipt button and select the type of inventory transaction to perform on the items on the invoice: Add Receipt, Add PO Receipt or Add Return. 
  13. Complete the inventory transaction using the steps in the sections above.
  14. On the Edit Invoice window click OK after completing all inventory transactions for the items on the invoice.
  15. Repeat steps 9 - 14 for any additional invoices.

 

Validate and Post Inventory Transactions

After you enter all your inventory transactions into the inventory transaction batch, you can validate and post the batch.

You only have to validate a batch if you use control the control values. When you validate the batch, it compares the value within the batch to any control value you set for the batch. If the values within the batch do not match the control values you set, the batch does not validate and you cannot post it. You can then review the batch, make any updates and re-validate it for posting. 

To validate a batch:

  1. In the Main Menu, search for and select Inventory Transaction Batches. The Inventory Transaction page opens.
  2. Select the batches to validate.
  3. Right-click and select Tools > Validate. The Validate Inventory Transaction Batch Summary window opens.
  4. When the validation is complete, the Reason column displays with either a success message or the reason for why the batch is not validated.
  5. Click OK.

When you post an inventory transaction batch, you are updating your inventory values with the values included in the batch. Items on market lists that have Auto Update checked on Edit Market List have their unit cost automatically updated when a PO receipt transaction is posted.

To post inventory transaction batches:

  1. In the Main Menu, search for and select Inventory Transaction Batches. The Inventory Transaction page opens.
  2. Select the batches to post.
  3. Right-click and select Tools > Post. The Post Batch Result Summary window opens.
  4. When posting is complete, the Reason column displays with either a success message or the reason why the batch is not posted.
  5. Click OK.

View Inventory Balances

You can view the current balance of your inventory items in the Inventory Balances page available from the Main Menu. You can also view the available inventory item quantities when adding service order items by displaying the Available Inventory column on the Add Service Order Items window.

Inventory Transaction Troubleshooting

If you receive a message that there is no open inventory fiscal period, you will need to create new open fiscal periods for inventory. See Fiscal Calendar for instructions to add additional fiscal periods for a module.

Inventory Transaction Security

Allow Adjustment Transactions

This access privilege controls who can create Adjustment inventory transactions. Any roles/users assigned to the privilege can create adjustment transactions while any roles/users not assigned to the privilege cannot create adjustment transactions. If no roles/users are assigned to the privilege, it is considered inactive and all roles/users can create adjustment transactions. 

Allow Cost Override on Inventory Transactions

This access privilege controls who can change costs on Inventory Transfer, Receipt, and PO Receipt transactions. Any roles/users assigned to the privilege can change costs while any roles/users not assigned to the privilege cannot change costs on Inventory Transfer, Receipt, and PO Receipt transactions. If no roles/users are assigned to the privilege, it is considered inactive and all roles/users can change costs. 

Allow Issue Transactions

This access privilege controls who can create Issue inventory transactions. Any roles/users assigned to the privilege can create issue transactions while any roles/users not assigned to the privilege cannot create issue transactions. If no roles/users are assigned to the privilege, it is considered inactive and all roles/users can create issue transactions. 

Allow Override of Purchase Order Variances

This access privilege controls who can enter a cost on a purchase order that exceeds a pre-determined variance. This variance level is controlled by the Percent Variance field on the Purchasing Configuration window. Any roles/users assigned to the privilege can exceed the specified variance while any roles/users not assigned to the privilege cannot exceed the variance. If no roles/users are assigned to the privilege, it is considered inactive and all roles/users can exceed the specified variance.

Allow Receipt/PO Receipt Transactions

This access privilege controls who can create Receipt and PO Receipt inventory transactions. Any roles/users assigned to the privilege can create receipt and PO receipt transactions while any roles/users not assigned to the privilege cannot create receipt and PO receipt transactions. If no roles/users are assigned to the privilege, it is considered inactive and all roles/users can create receipt and PO receipt transactions. 

This access privilege also controls who can receive more than the ordered quantity for an item. To not allow a role/user to exceed the ordered quantity, enter NO into the Value field for the role/user on the Access Privilege Details tab of the Access Privileges page.

Allow Restock Transactions

This access privilege controls who can create Restock inventory transactions. Any roles/users assigned to the privilege can create restock transactions while any roles/users not assigned to the privilege cannot create restock transactions. If no roles/users are assigned to the privilege, it is considered inactive and all roles/users can create restock transactions. 

Allow Return Transactions

This access privilege controls who can create Return inventory transactions. Any roles/users assigned to the privilege can create return transactions while any roles/users not assigned to the privilege cannot create return transactions. If no roles/users are assigned to the privilege, it is considered inactive and all roles/users can create return transactions. 

Allow Transfer Transactions

This access privilege controls who can create Transfer inventory transactions. Any roles/users assigned to the privilege can create transfer transactions while any roles/users not assigned to the privilege cannot create transfer transactions. If no roles/users are assigned to the privilege, it is considered inactive and all roles/users can create transfer transactions. 

 

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Comments

6 comments

Date Votes
  • Virna Putri

    Hi all

    Want to ask, if there is a way to limit only certain roles / users able to post in inventory transaction batches? As we plan to have only our storekeeper able to do so and the rest of users only request an issue transaction.

    Kindly assist.

    Thank you.

    0 upvotes

  • Irene Tjandrasa

    Hi Virna,

    You can limit this action on the role. Go to roles window , go to access exceptions and deny action ( in this case post inventory transaction batches).

    Thanks

     

    0 upvotes

  • Simon Dargaville
    • Edited

    Hi,

    I'm having an issue adding inventory items. Used to be ok in previous versions (v19).

    In 20.96 I get this error in the Add issue inventory Transaction detail screen:

    "The space you have selected is not setup as an item location. Please set up the space on the locations tab of the edit item window in order to issue inventory from this space."

    In the past we haven't assigned inventory/resources to spaces.

    Where is this locations tab it's referring to? And is it still possible add items without assigning them to a space? 

    Thanks
    Simon

     

    0 upvotes

  • Virna Putri

    Hi Simon

    I think the location tab is located inside the inventory item settings. Here you can decide the default location of your item when its received by Receiving Officer. If you do not setup any location, then it will go to 'virtual space'.

    But in order to use the feature add issue inventory I think you need to setup the default location in the first place.

    Hope it helps.

    Thank you

    Virna

    0 upvotes

  • Simon Dargaville

    H Virna, Thanks for the quick reply! 

    Here's a screenshot of my Edit Inventory Item screen. I've tried putting in a default Space, but still got same error. I also see Location and SubLocation fields, but not sure if they're relevant.

    Do you think I might be missing some options? 

    Or perhaps I should investigate the "Allow Manual Inventory Balance Modifications" option.

     

    0 upvotes

  • Maggie U.

    Hi Simon,

    You'll want to add some fields to your screen layout. The Location and Sublocation fields you are looking at are just manual entry fields for those not using item locations. You'll want to add the Locations tab to your screen layout and add the Default Space drop-down to your Edit Inventory Item screen. This will then give you the fields you need for the item locations. This thread may be helpful as well: https://supportcenter.ungerboeck.com/hc/en-us/community/posts/1500000903762-Inventory-item-setup

    Thanks!

    Maggie

    1 upvotes

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