To initialize item quantities and average cost

Contents - Index - Previous - Next

To Initialize Item Quantities and Average Cost

1. Select the Data Entry tab, Inventory Module and double-click on the Initialize Item Quantities Module step.
2. The Inventory Adjustments - Setup screen is displayed. Enter the Journal Entry date, set the Defaults and press OK.
3. After entering the options and pressing OK, the Inventory Adjustments screen is displayed.
4. Type the first letters of the Location description and press enter to select one from the list.
5. Any adjustments that have already been entered for this location are displayed and can be edited. New adjustment entries can be added to the last row of the list, which is blank. To enter or edit a location, return to the Main Module and select the Warehouse/Locations Module step.
6. Type the first letters of the product description and press enter to select one from the list. Only items that have been setup within the selected location are listed. The UOM, Average Cost, Adjusted Cost, On Hand and Physical Count fields are filled in automatically when the item is selected. Items can be entered or edited by returning to the Main Module and selecting the Add or Change Items Module step.
7. Enter or edit the Adjusted Cost field to change the average cost. Enter or edit the Physical Count to change the quantity.
8. Enter the reason for the adjustments.
9. Press the Info button to view information on this item and change the general ledger default accounts. The Additional Information screen is displayed. Data displayed on this screen is supplied by the Add or Change Items Module step on the Data Entry tab, Inventory Module. Modify the general ledger accounts as needed on the Additional Information screen. Press OK once the changes are completed.
10. Select another Location or Item, or press Close Current Window to return to the Inventory Adjustments - Setup screen.
11. These items have not been committed yet. Any additional items that are entered at this point will have the same batch number and journal entry date.
12. To commit this batch, select the [Review] button on the Inventory Adjustments - Setup screen. Once you have reviewed the data, press the [Commit] button on the Inventory Adjustments Review screen. The transactions cannot be edited after they have been committed.