Transaction Examples – Inventory

These examples are for systems where inventory is not integrated into the ledger (transactions are not posted to the ledger). No information is lost when you choose not to integrate inventory. The inventory movements are still recorded. It simply allows you to create two or three entries at the end of the month instead of hundreds of entries to capture every stock movement.

Click an entry on the list below to view the screenshot.

Goods Received

• Goods Received (transactions) are created when goods are received from a supplier, or finished goods are received from production.
• The Resolve option determines how inventory movements are recorded.

Goods Issued

• Goods Issued (transactions) are created when stock is issued to Production (e.g. raw materials) or goods are issued to Customers.
• The Resolve option determines how inventory movements are recorded.

Goods Returned

• Goods Returned (transactions) are used when Customers return goods. They are also used when Production returns unused raw materials to stock.
• Goods Returned has the same effect on inventory as Goods Received.
• A seperate transaction type (Goods Returned) is created for control purposes.

Stock Adjustments

• Stock Adjustments are made when a stock count is performed, and the counted numbers differ from the system numbers.
• The system number is calculated by summing all the stock movements on transactions.
• The Resolve option Adjust is the only inventory option that allows positive (count exceeds system quantity) and negative (count is less than the system quantity) stock entries.
• The Inventory Report shows how inventory is affected and is accessed by clicking Menu (button) > View Inventory Report.

Transfer Issued

• Transfer Issued (transactions) are only needed if your inventory is stored in multiple locations and you keep counts for each location.
• For example, a Transfer Issued (transaction) is created at head office to transfer stock to a branch.
• The branch counts the stock and approves or edits the Transfer Received (transaction) (which can be copied from the Transfer Issued (transaction)).
• The Inventory Report shows how inventory is affected and is accessed by clicking Menu (button) > View Inventory Report.

Transfer Received

• Transfer Received transactions are only needed if your inventory is stored in multiple locations and you keep counts for each location.
• For example, a Transfer Issued (transaction) is created at head office to transfer stock to a branch.
• The branch counts the stock and approves or edits the Transfer Received (transaction) (which can be copied from the Transfer Issued (transaction)).
• The Inventory Report shows how inventory is affected and is accessed by clicking Menu (button) > View Inventory Report.