Inventory Transaction Types
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The document summarizes inventory transaction types in two character codes used by different source modules, including inventory adjustments (IA), inventory issues (II), inventory transfers (IT), inventory receipts (IR), legacy bill of lading receipts and transfers (LR and LT), and transactions from purchase orders and sales orders. It provides details on how each transaction type affects inventory quantities and costs, and which general ledger accounts they impact.
Inventory Transaction Types
- 1. Connections 2011 July 18 - 22 INVENTORY TRANSACTION TYPES • Two character code o Source Module indicated by first character o Type indicated by 2nd character • Source modules o Inventory o Purchase Order o Bill of Lading o Sales Order INVENTORY ADJUSTMENTS (IA) +- • Created in IM Transaction Entry • Also created by Packaging Module, with transaction number preceded by “UP” (usage posting) • Can be either positive or negative quantity • Cost can be edited, defaults to average cost .WATCH THIS! • Most common appropriate use is correcting costs • Affects GL accounts for inventory and Inventory Adjustment (Cost), OR Cost of Goods Sold • Should not be used for Product re-branding across Product Lines • Should not be used for Warehouse transfers INVENTORY ISSUES (II) + • Created in IM Transaction Entry • Also created by Cardlink Module, to record COGS for Cardlock transactions. • Positive quantity reduces inventory. Can do negative issues. • Cost is predetermined by product / Warehouse, cannot be edited. • Most common appropriate use is relieving inventory for Cardlock transactions, or their reversal. • Affects GL accounts for inventory and Cost of Goods Sold INVENTORY TRANSFERS (IT) +- • Created in IM Transaction Entry • Also from BOL distributions ( in 4.40 and above) • Always enter the sending warehouse in the FROM WAREHOUSE FIELD, enter positive quantities. • Cost is predetermined by product cost in the FROM warehouse, cannot be edited. • Most common appropriate use is transferring stock inventory from one owned location to another. • Affects GL accounts for inventory for each warehouse. No Cost of Goods Sold used.
- 2. Connections 2011 July 18 - 22 INVENTORY RECEIPTS (IR) (+) • Prior to 4.40, used only for IM beginning balances • Created in IM Transaction Entry • Also from BOL distributions ( in 4.40 and above) • Enter positive quantities • Watch Units of Measures very carefully • Cost provided by user. Affects Average Cost • Affects GL accounts for inventory for each warehouse. No Cost of Goods Sold used. IM TRANSACTIONS – IP • Created with update of Physical Count Entry • Use this transaction type to write reports – Track product loss by item, warehouse – Verify physical counts have been performed Legacy BOL Receipts (LR) (+) • Prior to 4.40, BOL receipt created during BOL update. • Cost and quantity provided by BOL. Affects Average Cost • May include freight in. Legacy BOL Transfers (LT) (+/-) • Prior to 4.40, created during BOL update. • Occurs when product transferred from Header Warehouse (Truck) to Lines Warehouse (Distributed) • Cost and quantity provided by BOL. Affects Average Cost PO TRANSACTIONS • PO - Created with update of Receipt of Goods in Purchase Order. Always product in. • PZ – Adjusting Entry made by the system when PO is bringing product into a negative count situation. SO TRANSACTIONS • SO - Created with update of Sales Order Invoice Data Entry. • SI – Created when Invoice updated with kit item. SI is the depletion of the component item.