How Transactions Affect Inventory

How Each Transaction Affects Inventory

Chapter Topics
Invoices
Sale Orders
Lost Sales
Returns
Purchase Orders
Receipts
Return Receipts
Out Slips
In Slips
Out Slip Corrections
In Slip Corrections
Adjustments
Count Sheets
Cost Adjustments

What happens when you make an Invoice?

What happens when you make a Sales Order?

Items on the Sale Order can either be subtracted from inventory after first or last payment, depending on the configuration you've chosen
Movement is recorded in the Audit Log once the Items are subtracted from inventory
Sale Order Document is filed in the Sale Orders Catalog
Invoice Document can either be filed in the Invoices Catalog after first or last payment, depending on the configuration you've chosen

What happens when you make a Lost Sale?

What happens when you make a Return?

What happens when you make a Purchase Order?

What happens when you make a Receipt?

Items on the Receipt are added to inventory
Movement is recorded in the Audit Log
Receipt Document is filed in the Receipts Catalog
Cost of each Item on the Receipt is averaged with prior costs and written to the Items Catalog
Entry with new average cost is recorded in the Cost Audit Log

What happens when you make a Return Receipt?

Items on the Return Receipt are subtracted from inventory
Movement is recorded in the Audit Log
Receipt Document (with quantities appearing negative) is filed in the Receipts Catalog
Cost of each Item on the Receipt is averaged out of the moving average of the Item and newly adjusted cost is written into the Items Catalog
Entry with restored average cost is recorded in the Cost Audit Log

What happens when you make a Out Slip?

Items on the Out Slip are subtracted from the inventory of the store sending the merchandise
Movement is recorded in the Audit Log
Out Slip Document is filed in the Out Slips Catalog

What happens when you make an In Slip?

Items on the In Slip are added to the inventory of the store receiving the merchandise
Movement is recorded in the Audit Log
In Slip Document is filed in the In Slips Catalog

What happens when you make a Out Slip Correction?

Items on the Out Slip Correction are added or subtracted from the original Out Slip but do not directly affect inventory
No movement is directly recorded in the Audit Log (but changes to the original Out Slip will be reflected in the Audit Log)
Out Slip Correction Document is filed in the Out Slip Corrections Catalog

What happens when you make a In Slip Correction?

Items on the In Slip Correction are added or subtracted from the original In Slip but do not directly affect inventory
No movement is directly recorded in the Audit Log (but changes to the original In Slip will be reflected in the Audit Log)
In Slip Correction Document is filed in the In Slip Corrections Catalog

What happens when you make an Adjustment?

Items with a positive quantity on the Adjustment are added to the inventory
Items with a negative quantity on the Adjustment are subtracted from the inventory
Movement is recorded in the Audit Log
Adjustment Document is filed in the Adjustments Catalog

What happens when you make a Count Sheet?

Items on the Count Sheet have no effect on inventory
Count Sheets can have an indirect effect on inventory during the Physical Inventory process
No movement is recorded in the Audit Log
Count Sheet Document is temporarily filed in the Count Sheets Catalog

What happens when you make a Cost Adjustment?

Items on the Cost Adjustment have no effect on inventoryMovement is recorded in the Audit Log
Modified cost of each Item on the Cost Adjusment is averaged with prior costs and written to the Items Catalog
Entry with new average cost is recorded in the Cost Audit Log
Cost Adjustment Document is filed in the Cost Adjustments Catalog