Inventory Transaction Register

 

Function

Use this register to review the entries made in the Inventory Transaction Header task before updating the permanent files and to serve as a hardcopy audit report of all manual inventory transactions.

 

=> To access this task...

Select Inventory Transaction Register from the Inventory Control main menu.

 

When entering this task the system immediately issues the prompt:

  • Click [Yes] to run the register.

  • Click [No] to return to the Inventory Control main menu.

Sample Inventory Transaction Register

 

See Output Options.

 

After closing or printing the register, the system then automatically produces a General Ledger Summary of the Inventory Transaction Register.

 

 Sample Inventory Transaction Register - GL Summary

 

See Output Options.

 

After closing or printing the General Ledger summary, the following prompt appears:

 

  • Click [Yes] to update the register.

  • Click [No] to skip the update.

 

NOTE: If corrections are required to the transaction, they should be made before the register update process is run. Return to the Inventory Transaction Entry task and make adjustments. Incorrect transactions may also be corrected after they have been updated by making adjustment type transaction entries and performing the update.

 

Updating

The nature of each transaction influences the events that take place during the update.

 

  1. For all transactions affecting items with the Lotted or Serialized Item? and Inventoried? fields checked in the Inventory Item Maintenance  Master Tag section, the following files are updated:

  • Lot/Serial Number Master File.

  • Lot/Serial Number cross-reference file.

  • Lot/Serial Number transaction file.

  1. If average costing  is used, the Warehouse file is updated with the new average cost.

  2. If the transaction causes an item to be adjusted to zero or sold out, the lot/serial number is automatically closed.

  3. For additional information about how this update affects the inventory and general ledger, please refer to the Transaction Codes maintenance task. However, lotted/serialized inventory tracking allows overrides of the standard general ledger accounts.



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