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Initialize Item Quantities
After the warehouse, locations and items are entered, the average cost and physical count can be entered through the Initialize Item Quantities Module step. This Module step is used to enter the average cost and the physical count of the items on hand. This Module step does not make adjustments to account balances since beginning balances are normally entered through journal entries. This Module step is normally used only upon initial setup of the inventory system.
This screen is not used to make adjustments to inventory average cost or physical count since it is not making any journal entries. Adjustments can be made from the Adjust Item Quantities and Average Cost Module step on the Actions tab, Inventory Module.
For step-by-step instructions, see the Common Inventory Transaction section.