How do I adjust inventory?

Change the quantity on hand or total value of an item at the selected location.   

 

Contents

  1. Adjust inventory quantity—Normal Mode
  2. Adjust inventory quantity—Total Mode
  3. Adjust inventory
  4. Abort transaction
  5. Delete transactions
  6. Edit transactions
  7. Redisplay transactions
  8. Options

Adjust inventory quantity—Normal Mode

Use Normal Mode to add a positive or negative quantity to the inventory quantity at a specific location.

Example: Jane discovers that there are only 10 lamps at the main office instead of the 12 lamps that shows up on the inventory record for lamps. She can uses Normal Mode to enter an adjustment quantity of -2. When she saves the transaction the routine adds the adjustment quantity to the actual quantity. Adjustment Qty [-2] + Actual Qty [12] = Quantity [10] The system records the adjustment transaction and updates the Quantity in the inventory record to 10.   

Adjust inventory quantity—Total Mode

Use Total Mode to enter the total quantity at the location. When you save the transaction the routine will create an adjustment transaction for the difference between the adjustment quantity entered on the transaction and the actual quantity.

Example (continued from the previous section): In Total Mode Jane enters 10 and saves the transaction. The routine calculates the difference between the previous quantity and the actual quantity. Previous Qty [12] - Actual Qty [10] = Adjustment Qty [-2] The system records the actual quantity and creates an adjustment transaction for -2.

Adjust inventory

Change the quantity on hand or total value of an item at the selected location.

Do this...

1. Open Connect Materials Management > Inventory > Adjust Inventory.

2. Select the Adjustment Mode.

The adjustment mode determines what type of information will be recorded and how the system will create the adjustment transaction.

Which adjustment mode do you want to use?

  • I want to enter the adjustment quantity. Use Normal mode to enter a positive or negative quantity. When you save the transaction, the routine will adjust the quantity by the entered value. For example, Jane discovers that there are only 10 lamps at the main office instead of the 12 lamps that shows up on the inventory record for lamps. She can uses Normal Mode to enter an adjustment quantity of -2. When she saves the transaction the routine adds the adjustment quantity to the actual quantity. Adjustment Qty [-2] + Actual Qty [12] = 10)

  • I want to enter the total quantity; the system will create the adjustment for me. Use Total mode to enter the actual quantity. When you save the transaction, the routine will calculate the difference and create an adjustment transaction. Using Jane's example, in Total Mode Jane enters 10 and saves the transaction. The routine finds the difference between the previous quantity and the actual quantity. Previous Qty [12] - Actual Qty [10] = Adjustment Qty [-2] The system records the actual quantity and creates an adjustment transaction for -2.  

3. Enter Comments.

A comment is a note explaining or illustrating the meaning or purpose of a transaction. The note is saved with the transaction and you can view it using Inquiry and it can be included on some reports.

Do you want to add a note to the adjustment transaction?

  • Yes , I want to add a note. You can include a note (up to 50 characters) in the Comments field.

  • No, I want to leave it as is. Continue to the next step.  
     

4. Enter the Inventory Number.

What is the inventory number?

  • Type an inventory number in the Inventory Number field. You can Search (F9) this field.

5. Set up a Link This Adjustment to Another Transaction.

Linking transactions means the system treats the related transactions as a single transaction to determine the unit cost for the selected inventory.

Do you want to link this adjustment to another transaction?

  • Yes, I want to link this adjustment to another transaction. Click the Link This Adjustment to Another Transaction link. The Link Transaction form displays the transactions for issued, received in Accounts Payable, received in Materials Management, returned, or salvaged for the current inventory number. Use the Link Transaction form to select which transaction should be linked to the current transaction. You can only link this transaction to an existing transaction.

  • No, I want to leave this adjustment as is. Continue to the next step.  

6. Now, fill in the remaining fields.

 

7. Click Save (CTRL+S) or press Enter again.  

The transaction is saved.

 

Abort transaction

The Delete (CTRL+D) button has two functions in this program. In New mode, clicking the Delete (CTRL+D) button will abort the current transaction. None of the information on the transaction is saved and a new form is displayed. In Edit mode, using the Delete (CTRL+D) button will remove a saved transaction.

 

Delete transactions

Has the transaction been updated to the General Ledger?

  • Yes, the transaction has been updated to the General Ledger. The transaction cannot be deleted.

  • No, the transaction has NOT been updated to the General Ledger. Use Connect Materials Management > Inventory > Adjust Inventory to delete the transaction. You'll need to enter the Input Date when the inventory was adjusted. Then, use Redisplay (CTRL+R) or maximize the console to show the transactions grid, see Show/Hide Transaction Grid. Write down the reference and sequence numbers on a piece of paper. What do you want to do?

    • I want to delete a single entry. Click Delete Single Reference Number. Then, enter the reference number. Example: 1.01

    • I want to delete a range of entries. Click Delete Reference Number Range. Now, enter the first and last reference number in the range. Example: 1.05 to 10.01   

    • I want to delete all of the entries entered on the input date. Click Delete All Adjustment Transactions Input On MM/DD/YYYY. This will erase ALL of the transactions that were created on this date. There is no undo for this option. If you're not sure, back up the database before you continue.

 

Edit transactions

Has the transaction been updated to the General Ledger?

  • Yes, the transaction has been updated to the General Ledger.  You cannot make changes to transactions that have been updated to the General Ledger.

  • No, the transaction has not been updated to the General Ledger. Use Inventory > Adjust Inventory in Edit mode (CTRL+E). You'll need a reference number to look up the transaction. You can also edit a transaction by selecting a transaction that is displayed in the transactions grid, it is located at the bottom of the form. When a transaction is selected, the transaction information is displayed for editing.

 

Redisplay transactions

Use Redisplay (CTRL+R) to show other transactions that were entered on the Input date. For example, the Redisplay tool comes in handy when you need to edit a saved transaction.

 

 

Options

Adjust date

The system will use this date as the batch date for all of the transactions that will be created by running this routine.  

Adjustment mode

The adjustment mode determines what type of information will be recorded and how the system will create the adjustment transaction.

Which adjustment mode do you want to use?

  • I want to enter the adjustment quantity. Use Normal mode to enter a positive or negative quantity. When you save the transaction, the routine will adjust the quantity by the entered value. For example, Jane discovers that there are only 10 lamps at the main office instead of the 12 lamps that shows up on the inventory record for lamps. She can uses Normal Mode to enter an adjustment quantity of -2. When she saves the transaction the routine adds the adjustment quantity to the actual quantity. Adjustment Qty [-2] + Actual Qty [12] = 10)

  • I want to enter the total quantity; the system will create the adjustment for me. Use Total mode to enter the actual quantity. When you save the transaction, the routine will calculate the difference and create an adjustment transaction. Using Jane's example, in Total Mode Jane enters 10 and saves the transaction. The routine finds the difference between the previous quantity and the actual quantity. Previous Qty [12] - Actual Qty [10] = Adjustment Qty [-2] The system records the actual quantity and creates an adjustment transaction for -2.  

GL account

A GL account is an account in the General Ledger that records credits and debits.

What is the GL account to be billed?

  • I know the GL account. Use the GL Account field to type in a valid GL account.

  • I need to look up the GL account. You can Search this field.

Input date

The Input Date will default to the current date.

What is the Input Date?

  • Enter a MM/DD/YYYY in the Input Date field.

Inventory number

This is the number assigned to the inventory item.

Link this adjustment to another transactions

Linking transactions means the system treats the related transactions as a single transaction to determine the unit cost for the selected inventory.

Do you want to link this adjustment to another transaction?

  • Yes, I want to link this adjustment to another transaction. Click the Link This Adjustment to Another Transaction link. The Link Transaction form displays the transactions for issued, received in Accounts Payable, received in Materials Management, returned, or salvaged for the current inventory number. Use the Link Transaction form to select which transaction should be linked to the current transaction. You can only link this transaction to an existing transaction.

  • No, I want to leave this adjustment as is. Continue to the next step.  

Location

Location refers to the area occupied by the inventory. Use this field to enter the address of the physical location of the inventory.

Quantity

The quantity is the number of items adjusted.

What is the quantity?

  • Use the default quantity. This information is displayed.

  • Change the quantity. Use the Quantity field to edit the quantity to match the quantity on the sequence.

Quantity available

The inventory quantity at each location also displays in the Quantity Available grid. You can use the Quantity Available grid to determine how many items can be reserved at the selected location.

How many of the inventory do you want to reserve?

  • Click on the Quantity field and type in a number. You can key up to two decimal places, for example, ####.##

Total cost

Total Cost = Quantity x Unit Cost

Unit cost

The unit cost is the price for a single item or unit.

What is the unit cost?

  • Use the default unit cost for the selected inventory. This information is displayed.

  • Change the unit cost. Click on the Unit Cost field to enter a new unit cost.

 

 

Copyright © 2020 Caselle, Incorporated. All rights reserved.