Entering receipts and adjustments

The flexibility of Orders simplifies managing product inventory and ensures inventory transactions are recorded efficiently and accurately. How you manage product inventory and process inventory transactions depends on whether your inventory is stored in a single location or in multiple warehouses.

After entering a product inventory transaction, the transaction must be posted. Inventory transactions can be posted either automatically or manually. Manually posting inventory transactions is recommended because it provides an opportunity to review a transaction for errors. Automatic transaction posting does not offer this opportunity.

Product inventory transactions include inventory receipts, adjustments, and transfers. Automatically posting inventory transactions is not recommended because it does not allow you to review your transactions or make any necessary corrections before the transactions are posted.

By posting transactions manually, you can verify and correct any errors before a transaction is posted. This helps protect product inventory, backorder, and cost-of-goods-sold information from inadvertent updates and changes.

To post inventory receipts and adjustments manually, disable the Automatically Post Inventory Receipts/Adjustments option on the Inventory System Setup window (in the Advanced Accounting Console, go to Settings > Commerce > Configure commerce options and click Inventory).

All inventory transactions are entered using the Receipts and adjustments window (in the Advanced Accounting Console, go to Commerce > Inventory > Receipts and adjustments).

Product inventory receipts allow iMIS Orders to record and track your physical product inventory accurately and efficiently. Inventory receipts are recorded when a product is received in inventory, and receipts can be entered only for stock items that have an Active, Inactive, or Out of Production status.

When entering product inventory receipts, enter the transaction date, invoice number, description, and quantity received in inventory for a specific product. When an inventory receipt is entered, a transaction number is generated automatically as a reference for the receipt. When inventory receipts are posted, iMIS automatically updates and adjusts your product inventory records.

To ensure accurate inventory records, manually posting inventory receipts is recommended because it provides an opportunity to review the receipts before they are posted. This helps prevent entering any inadvertent updates or changes. To post inventory receipts manually, disable the Automatically Post Inventory Receipts/Adjustments option on the Inventory System Setup window (in the Advanced Accounting Console, go to Settings > Commerce > Configure commerce options and click Inventory).

Your method of storage determines how inventory receipts are entered. If an individual product is stored in a single storage facility, you only need to enter a single inventory receipt for a product. If an individual product is stored in multiple warehouses, you have the ability to enter inventory receipts for each warehouse in which a product is stored. In order to record inventory receipts for products stored in multiple warehouses, the Enable Multi-Warehouses option must be enabled on the Inventory System Setup window (in the Advanced Accounting Console, go to Settings > Commerce > Configure commerce options and click Inventory)

Do the following if the Enable Multi-Warehouses option on the Inventory System Setup window is disabled:

  1. In the Advanced Accounting Console, go to Commerce > Inventory > Receipts and adjustments.
  2. Click New.
  3. (optional) Enter the Date of the inventory receipt, or accept the default system date.
  4. Enter an Invoice #, such as the invoice number of the vendor's invoice.
  5. Enter a brief Description of the product inventory receipt.
  6. Enter the code of the Product received in inventory (select the Find icon to look up a product code). Receipts can be entered only for products that have an Active, Inactive, or Out of Production status.
  7. Press Tab. The product's Description and Unit Cost display by default. The Description can be overridden if necessary.
  8. Enter the Quantity of the product received in inventory.
  9. (optional) Enter the Unit Cost of the product, or accept the default unit cost.
  10. Press Tab, and repeat this process for each additional product inventory receipt you want to enter.
  11. Click Save.

Do the following if the Enable Multi-Warehouses option on the Inventory System Setup window is disabled:

  1. In the Advanced Accounting Console, go to Commerce > Inventory > Receipts and adjustments.
  2. Click New. The Receipt option is enabled by default.
  3. (optional) Enter the Date of the product inventory receipt, or accept the default system date.
  4. Enter an Invoice #, such as the invoice number of the vendor's invoice.
  5. Enter a brief Description of the product inventory receipt.
  6. Enter the Product code of the product received in inventory (select the Find icon to look up a product code). Receipts can be entered only for products that have an Active, Inactive, or Out of Production status.
  7. Press Tab. The product's default Warehouse, Bin (if applicable), Description, and Unit Cost display by default.
  8. Enter the Warehouse for which you are entering the inventory receipt (select the Find icon to look up a warehouse), or accept the product's default warehouse. You also can enter a warehouse that has not been pre-defined for the product:
    • Entering a warehouse that has not been pre-defined creates a new warehouse record for that product.
  9. Enter the warehouse Bin in which the product is stored, or accept the default bin.
  10. (optional) Enter the product's Description, or accept the default product description.
  11. Enter the Quantity of the product received in inventory at the warehouse.
  12. Enter the Unit Cost of the product, or accept the default unit cost.
  13. Press Tab, and repeat this process for each additional product inventory receipt you want to enter.
  14. Click Save.

Product inventory adjustments allow you to adjust your inventory records for stock items when you need to make corrections. For example, you might need to enter a product inventory adjustment after taking inventory of all products and discovering loss or damage that has decreased a product's physical inventory.

Inventory adjustments are entered just as inventory receipts are entered, and the only difference between the two is that negative quantities can be entered for inventory adjustments. Adjustments can be entered only for products with an Active, Inactive, or Out of Production status, and iMIS automatically updates and adjusts your product inventory records when adjustments are posted.

As with all inventory transactions, manually posting inventory adjustments is recommended. To post inventory adjustments manually, disable the Automatically Post Inventory Receipts/Adjustments option on the Inventory System Setup window (Settings > Commerce, click Inventory).

As with inventory receipts, your method of storage determines how inventory adjustments are entered. In order to record inventory adjustments for a product stored in multiple warehouses, the Enable Multi-Warehouses option must be enabled on the Inventory System Setup window.

Do the following to enter inventory adjustments:

  1. In the Advanced Accounting Console, go to Commerce > Inventory > Receipts and adjustments.
  2. Click New.
  3. (optional) Enter the Date of the inventory adjustment, or accept the default system date.
  4. Enter an Invoice # for the inventory adjustment.
  5. Enter a brief Description of the product inventory adjustment.
  6. Select the Inventory Adjustment option.
  7. Enter the code of the Product for which you are entering an inventory adjustment (select the Find icon to look up a product code). Adjustments can be entered only for products that have an Active, Inactive, or Out of Production status.
  8. Press Tab. The product's Description and Unit Cost display by default. The Description can be overridden if necessary.
  9. Enter the quantity of the inventory adjustment:
    • Enter a positive amount in the Quantity field to increase a product's inventory.
    • Enter a negative amount in the Quantity field to decrease a product's inventory.
  10. Enter the Unit Cost of the product, or accept the default unit cost.
  11. Press Tab, and repeat this process for each additional product adjustment.
  12. Click Save to enter the inventory adjustment.

Do the following to enter inventory adjustments for multiple warehouses:

  1. In the Advanced Accounting Console, go to Commerce > Inventory > Receipts and adjustments.
  2. Click New.
  3. (optional) Enter the Date of the inventory adjustment, or accept the default system date.
  4. Enter an Invoice # for the inventory adjustment.
  5. Enter a brief Description of the product inventory adjustment.
  6. Enable the Inventory Adjustment option.
  7. Enter the code of the Product for which you are entering an inventory adjustment (select the Find icon to look up a product code). Adjustments can be entered only for products that have an Active, Inactive, or Out of Production status.
  8. Press Tab. The product's Warehouse, Bin (if applicable), Description, and Unit Cost display by default.
  9. Enter the Warehouse for which you are entering the inventory adjustment (select the Find icon to look up a warehouse), or accept the product's default warehouse.
  10. Enter the warehouse Bin in which the product is stored, or accept the default bin.
  11. (optional) Enter the product's Description, or accept the default product description.
  12. Enter the quantity of the inventory adjustment:
    • Enter a positive amount in the Quantity field to increase a product's inventory.
    • Enter a negative amount in the Quantity field to decrease a product's inventory.
  13. Enter the Unit Cost of the product, or accept the default unit cost.
  14. Press Tab, and this process for each additional product adjustment.
  15. Click Save to enter the inventory adjustment.

If you store individual products in multiple warehouses, Orders gives you the ability to record product inventory transfers from warehouse to warehouse.

Product inventory transfers might be necessary under a variety of circumstances. For example, a product's inventory at one warehouse might be insufficient to meet immediate customer demand. If another warehouse has excess inventory in stock, you might decide to transfer the excess inventory to the warehouse with insufficient inventory.

When product inventory transfers are posted, iMIS automatically updates and adjusts a product's inventory record for each warehouse involved in the transfer. As with all inventory transactions, manually posting inventory transfers is recommended. To post inventory transfers manually, disable the Automatically Post Inventory Receipts/Adjustments option on the Inventory System Setup window (in the Advanced Accounting Console, go to Settings > Commerce > Configure commerce options and click Inventory).

To record inventory transfers for a product stored in multiple warehouses, the Enable Multi-Warehouses option must be enabled on the Inventory System Setup window.

Transfers can be entered only for products that have an Active, Inactive, or Out of Production status. If you select a To Warehouse that is not already assigned to the product, iMIS automatically assigns the warehouse once you save the inventory transfer and adds it to the product's Warehouses window. Entering or editing a Bin value on the Receipts and adjustments window updates a product's Warehouses window for that To Warehouse.

  1. In the Advanced Accounting Console, go to Commerce > Inventory > Receipts and adjustments.
  2. Click New.
  3. (optional) Enter the Date of the inventory transfer, or accept the default system date.
  4. Enter an Invoice # for the inventory transfer.
  5. Enter a brief Description of the product inventory transfer.
  6. Enable the Transfer option. The From Warehouse, To Warehouse, and Bin (To Warehouse) fields display.
  7. Enter the code of the Product that you are transferring (select the Find icon to look up a product code). Transfers can be entered only for products that have an Active, Inactive, or Out of Production status.
  8. Press Tab. The product's From Warehouse, Bin (From Warehouse), Description, and Unit Cost display by default.
  9. Enter the product's From Warehouse. This is the warehouse from which inventory is transferred. Select the Find icon to look up a warehouse, or accept the product's default warehouse.
  10. Enter the From Warehouse Bin, or accept the default bin.
  11. Enter the product's To Warehouse. This is the warehouse to which inventory is transferred. Select the Find icon to look up a warehouse.
  12. Enter the product's To Warehouse Bin if applicable.
  13. (optional) Enter the product's Description, or accept the default product description.
  14. Enter the Quantity of the inventory transfer. The quantity entered cannot be a negative value or exceed the From Warehouse's total available inventory.
  15. Click Save.