Inventory Transactions Training
Getting Started with Transactions
Quick Checklist
- Review the receipt window, as well as the alternate option of using receipts to break products down.
- Adjust quantity on hand for a few items.
- Issue stock out as an expense unrelated to a specific customer.
- Create and enter an inventory count. Check out this webinar on full vs cycle counting.
- Create a standalone vendor bill via landed cost to allocate costs to inventory.
- For customers utilizing multiple warehouses or bin locations, create an inventory transfer. Print the session before and after posting to review the associated forms.
- When doing manufacturing, create an inventory assembly transaction.
- Sync with QuickBooks and review the accounting entries sent to QuickBooks.
Inventory Transactions Library
Guided steps for specific functions regarding purchasing
Navigate the Library:
Receipts
Create a purchase order receipt that is linked to specific POs to ensure the proper reconciliation of purchase accounts.
Use a standalone inventory receipt transaction to split lot numbers or break down one product to create others.
Adjustments
Adjust inventory up or down by a specific number like for damaged goods that need to be removed from inventory.
Issue stock (remove from inventory) for non-sales uses, i.e., samples, trade show demos & donations and select a GL Expense account per transaction.
Follow 3 steps to do an inventory count in Acctivate and keep accurate inventory numbers with cycle counts at regular intervals or year-end counts.
Transfers
Transfer inventory between multiple locations, in multiple warehouses or between multiple locations within a warehouse.
Assemblies
Create assemblies to combine/consume multiple raw material items into a single finished product to be stocked and sold.
Landed Cost
Utilize the Landed Cost module to create a vendor bill and allocate the cost across posted inventory transactions.
