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The normal flow of activities in the inventory system will include the posting of new purchases to increase inventory and the transferring of inventory items to expense accounts and job schedules as the inventory is used.
| 1. | Posting New Purchases - As purchases of new inventory items are received, they will be entered into the inventory system using the Post Inventory Receivers option. This option will only be used by companies that do not have the Purchase Order system. If your company has the Orders system, then the inventory shipments will be handled by posting the received items against the stock orders that are created in the Orders system. The only time this option will be used by companies that do have the Purchase Order system, will be to establish the beginning balances of each inventory part number. |
| 2. | Transferring Inventory Items - As inventory items are pulled from stock, they are recorded in the Inventory system so that the quantities on hand can be adjusted. In addition, the job schedules and the general ledger balances are updated for the amount of the transferred items. These transfers are entered through the Transfer Inventory option. If your company is using the Orders system, then the inventory transfers are handled through the Orders > Stock Requests option. |
| 3. | Printing Inventory Reports - There are currently four reports available in the Inventory Reports menu option. The detail (historical) reports may be printed at any time for any period and with a variety of options. |
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