Invetory Transactions

Creating or Editing an Inventory Transaction

Inventory Transaction Entry is used to record miscellaneous inventory transactions that do not come from the normal course of purchasing or selling items.

Use the Inventory Transaction Entry screen to enter, edit or post inventory additions, decreases or transfers. Additionally, you can establish inventory beginning balances.

Process Steps

Enter the Inventory Transaction header and details.
Select Save from the Action Menu.
Select Post when the transaction is complete (alternatively transactions can be posted from the Item Transaction Grid Action Menu).

Fields -Header

Site ID

Select the Default Site for the transactions. This can be changed on each line item

Transaction Mode

Select the transaction mode for the entry. All lines on an entry must be the same type of transaction. Available options are:

Increase Adjustment - Increases the quantity on hand. A cost for each line must be entered.
Decrease Adjustment - Decrease the quantity on hand. The cost will be determined by the items cost type.
Beginning Balance - Used to establish an items beginning quantity on hand. No entry will be made to the General Ledger for this transaction.
Transfer - Used to transfer items between locations.

Entry Date

This the date the journal entry was created and defaults to the current date.

Apply Date

The Apply Date is used to determine the accounting period the transaction apples to based on the fiscal periods set up for the company.

For example, an Apply Date of 2/15/2015 will apply the transaction in the calendar period of February if calendar periods are selected in System setup.

Reason Code

Optional. Enter a reason code for the transaction. Reason Codes are established in Gravity->System Setup->Inventory->Reason Codes

Fields -Grid

Inventory Master

Select an item from the inventory item list. Selecting an Item will retrieve the line item attributes. Part of an item number or item name can be entered for fast lookup.

Inventory Description

This is used as reference for the selected item.

Site ID

Defaults from the transaction header. Can be changed by line. When selecting an Item Transfer, this is the "From" site in the transfer.

Unit of Measure

A Unit of Measure will default from selecting an inventory item.Select a unit of measure from the list or pop-up box.

Quantity

Select a quantity for the line.

Cost

If selecting an Increase Transaction. An Item cost must be established.

Line Amount

If applicable the line amount is shown.

Adjustment Account

This account defaults from the Item Location. It used for transfers between sited where the Standard cost is different at each site.

Transfer To Site

If processing a Transfer transaction, a "To" site must be entered.

Dimensions

Dimensions are used to define how transactions are categorized for unique reporting requirements. Dimensions defined on the header are automatically copied to line items. Dimension rules will determine if Dimensions are required or optional on each line item.

See Using Dimensions