The Inventory Control Adjustments menu allows you to enter inventory adjustments and item repackaging. Inventory on-hand quantities are updated at the time of entry. After entries have been made, the Adjustments Register is run to update the adjustments file and post to general ledger. The Adjustments Register lists all adjustments since the last register and optionally posts to General Ledger. Adjustments created by discrepancies during physical inventory will also appear on this register.
These programs are on the Adjustments menu.
The Adjustment Entry program allows immediate adjustments to on-hand inventory. Each entry includes an adjustment code explaining the general nature of the adjustment quantities (e.g. lost, damaged, etc.). Through the Adjustment Entry program, you can enter manual adjustments to inventory on-hand quantities to post receipts of goods, adjust for damaged goods and record sales. You must establish adjustment codes in the Adjustment Codes F/M program and assign one to each adjustment. If a R-(receipts) type adjustment code is entered or an A-(positive) adjustment type adjustment code, the cost must be entered. If a S-sales type adjustment code is entered, a price must be entered. All other codes do not require field of a cost/price. A memo may also be entered to explain the reason for each adjustment. As soon as the transaction is recorded, on hand quantities are updated. A scrolling feature displays the most recent transactions recorded at the bottom portion of the screen. This provides additional safeguards against user error due to oversight or transaction duplication.
The Item Repackaging program allows the repackaging of items by converting the quantity of an item of a given package size into the resulting quantity of a like item of a different package size. The requirement for repackaging is that the smallest unit of measure for both items is the same. If binders are sold by each and by case, two items are required in the item file. The smallest unit of measure for both must be each. If there are 10 binders in a case, then when repackaging a case into individual binders, the system transfers 1 case of the case item number to 10 each of the each item number. Updating the on-hand quantities of the items according to the transfer amounts occurs immediately as the transfer is recorded. Two records of the transfer (one for each item) are created in the adjustments file and are available for printing on the next Adjustment Register. A scrolling feature displays the most recent transactions recorded at the bottom portion of the screen. This provides additional safeguards against user error due to oversight or transaction duplication.
The Adjustment Register prints an audit trail of all adjustments and repackaging since the last register. The Adjustment Register also includes any physical discrepancies from the Physical Inventory Update program (if applicable) and the warehouse transfers entered through the Quick Transfer Adjustment program. The adjustments file consists of adjustment and item repackaging transactions, which have been recorded through the Adjustment Entry, the Item Repackaging Entry and Quick Transfer Adjustment programs. If GL is used, a GL distribution is printed and GL is posted to automatically. Templates that store "current period" (or similar values like "system date") resolve to the "current period at the time the report is run" rather than what the "current period" was at the time the template was created. For example: If you save a template for the Adjustment Register and select "System Date" for the Date field, when that template is selected to run again (either manually or via Job Stream) the current date is determined using the FACTS system date when the register is run not the date when the template was created. This program will: print a listing of adjustments, item repackaging, quick item transfers and physical discrepancies; build and print a general ledger distribution, if needed; post to general ledger if general ledger is built and update inventory files optionally including removal of adjustments printed. The optional update removes all records printed, and posts to General Ledger.