Adding Current Item Quantities and Costs
This topic describes the steps you take to post the current item quantities and costs for each of your inventory items when you are setting up your Inventory Control system.
Before adding item quantities and costs:
From your existing system, gather the amounts and costs for your items at each location.
To add current item quantities and costs:
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Make your selections in the Options form, if you have not already done so.
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Use the Receipts form to add your current item quantities and costs to Inventory Control. Importing item quantities and costs.
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Use the Day End Processing icon to update your Inventory Control records.
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Double-click the Item Valuation icon in the Stock Control Reports folder to print the Item Valuation report to check that the item quantities and costs you added match those on your source documents. If you need to make adjustments.
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Doulbe-click the Posting Journals icon in the Price/Sales Analysis Reports folder, then print the journal of the receipts (and adjustments, if applicable) you posted.
Compare the posting journal(s) to the Item Valuation report you printed in step 4, and your source documents.
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Click the Clear History icon in the Periodic Processing folder, to delete the printed posting journal(s) for receipts (and adjustments, if necessary).
Select the Printed Posting Journals option, then select Receipts (and Adjustments, if you made any).
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Double-click the G/L Transactions icon in the Price/Sales Analysis Reports folder, then print the G/L Transactions report using the displayed posting sequence number.
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Double-click the Create G/L Batch icon in the Periodic Processing folder, then create the general ledger transactions for the Inventory Control transactions you posted (use the displayed day-end number).
Compare the G/L Transactions report you printed in step 7 to your general ledger listing to be sure the totals balance.
Delete the general ledger batches that you created.
If you do not delete the batches, you risk posting them twice in your general ledger. To delete the batches
In step 1, you may have had to make one or more changes in the Options form before entering your item quantities and costs. If you made changes, you can now change the options back. More
See also