You use the Inventory Configuration window to configure system behavior for Inventory Management. Typically, this information is configured one time and is rarely changed. It is important to understand the implications of changing any system configuration as changes can have substantial impact to how the software behaves in certain scenarios. If you need further clarification on how changing a particular system setting may impact software behavior, contact your Value Success manager or the Support Services Team.
Click the Inventory Configuration link from the Main Menu to access the configuration window. The screen has two tabs: General and Access Privileges. See Inventory Access Privileges for more information about the access privileges.
General Tab
Inventory Defaults Section
- Inventory Valuation Method - Default the default inventory valuation method when you run the Inventory Valuation. Choose from Last Cost, FIFO or Weighted Average.
- Disable Inventory Valuation by Space - If checked, inventory is valued based on the item transactions throughout the organization. If unchecked, inventory is valued in all spaces independent of the transactions in other spaces.
- Allow manual inventory balance modifications - If checked, you can manually change inventory item current balances. To change an inventory item current balance, you must have no existing inventory transactions for the inventory item.
- Allow Negative Inventory Balances - If checked, inventory items can have a negative inventory balance. If unchecked, inventory item balances do not go below zero (0).
- Use Function Space on Work Order Issue - If checked, after completing work orders, the Event Function space field is checked to see if is an inventory space. If it is, the space is used for the Issue Inventory transaction. If the Event Function space is not an inventory space, if no space is assigned to the function or if the issued item is not assigned to a function, the default space for the consumable item is used.
- Relieve Inventory at Work Order Completion - If checked, after completing work orders, balances for the fiscal period of the resource start date update. If the start date is not a valid fiscal period, the current fiscal period is used. If unchecked, inventory balances are not updated when completing work orders for consumable items.
- Allow Package Detail Costing - If checked, the package header distributes amounts based on the GL Distribution set up for each resource type.
- Allow ZZZINV Space on Transactions - If checked, you can use ZZZINV as the default space on inventory transactions.
Distribution Section
- Pull GL For Receipt Transactions - If checked, you can generate journal entries for receipt inventory transactions. If you are licensed to both Accounts Payable and Purchasing and use matching in Accounts Payable, you need to leave this as unchecked because the Accounts Payable matching selects the distribution for the receipt transactions from the purchase order at this time and pulling them in inventory journal entries doubles the entries. If you are licensed to Purchasing and not Account Payable, purchase order distribution is not used and the receipt transactions should use a clearing account that is cleared by an external Accounts Payable system.
- Pull GL For Issue Transactions - If checked, you can generate journal entries for issue inventory transactions.
- Pull GL For Adjustment Transactions - If checked, you can generate journal entries for adjustment inventory transactions.
- Pull GL For Valuation Transactions - If checked, you can generate journal entries for inventory valuation transactions.
- Pull GL For Count Adjustment - If checked, you can generate journal entries for physical count transactions.
- Pull GL For Transfer Transactions - If checked, you can generate journal entries for transfer inventory transactions (both transfer in and transfer out transactions).
- Pull GL For Return Transactions - If checked, you can generate journal entries for return inventory transactions. If you are licensed to both Accounts Payable and Purchasing and use matching in Accounts Payable, you need to leave this as unchecked because the Accounts Payable matching selects the distribution for the receipt transactions from the purchase order at this time and pulling them in inventory journal entries doubles the entries. If you are licensed to Purchasing and not Account Payable, purchase order distribution is not used and the receipt transactions should use a clearing account that is cleared by an external Accounts Payable system.
- Pull GL For Restock Transactions - If checked, you can generate journal entries for restock inventory transactions.
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