Inventory Transfer Register

 

Function

Use this register to verify inventory transfers before updating the permanent files and to serve as a hardcopy audit report for all such transactions.

 

=> To access this task...

Select Inventory Transfer Register from the Inventory Control main menu.

 

When entering this task the system immediately issues the prompt:

 

  • Click [Yes] to run the transfer register.

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

Sample Inventory Transfer Register

 

See Output Options.

 

NOTE: If corrections are required to the transfer, they should be done before the update process is run. Return to the Inventory Transfer Entry task and make adjustments.

 

Updating

Inaccurate transfers may be corrected after they have been updated by making correcting entries, printing the register, and performing the update.

 

Inventory transfers are recorded as transfer in/transfer out within the Inventory Master File. The “from” warehouse has a negative adjustment recorded for the quantity of the transferred items, which reduces the on-hand balance. The “to” warehouse has a positive adjustment amount recorded, which increases the on-hand balance.

 

If activated, the LIFO/FIFO cost tiers are updated according to the costs and quantities entered. In addition, the following events take place during the update.

  1. The Last Transfer In/Out Date fields in the Inventory Item Maintenance - Item Master Information option are updated.

  2. MTD transfer in/out and the warehouse On-hand Quantity are updated in the Inventory Item Maintenance - Warehouse Status option.

  3. The Lot/Serial Number Master File , Lot/Serial number sort file, and Lot/Serial number transaction file are updated.

  4. If the Distribute Sales by Item parameter is set to Y in Accounts Receivable, the general ledger is updated based on each warehouse’s distribution codes (established in Accounts Receivable). If the parameter is set to N, no general ledger updating occurs.

After closing or printing the transfer register, the system automatically produces a General Ledger Summary of the Inventory Transfer Register:

 

Sample GL Summary of the Inventory Transfer Register

 

See Output Options.

 

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

 

Run Transfer Register update?

  • Click [Yes] to update the register.

  • Click [No] to skip the update.



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