Transaction Examples – Inventory

These examples are for systems where inventory is not integrated into the ledger (inventory movement transactions are not posted to the ledger). No information is lost when you choose not to integrate inventory. The inventory movements are still recorded. Not integrating simply lets you create two or three entries at the end of the month instead of hundreds of entries for every stock movement.

Fields that are irrelevant to the transaction are hidden on the screenshots.

Goods Received

Goods Received (transactions) are created when goods are received from a supplier, or finished goods are received from production.
The Resolve option determines how inventory movements are recorded.

Goods Issued

Goods Issued (transactions) are created when stock is issued to production (e.g. raw materials) or goods are issued to customers.
The Resolve option determines how inventory movements are recorded.

Goods Returned

Goods Returned (transactions) are used when customers return goods. They are also used when production returns unused raw materials to stock.
Goods Returned has the same effect on inventory as Goods Received.
A separate Transaction Type (Goods Returned) is created for control purposes.

Stock Adjustments

Stock Adjustments are made when a stock count is performed and the counted numbers differ from the system numbers.
System numbers are calculated by summing all the stock movements on transactions.
Resolve is not used for stock adjustments.
The Inventory Report (Menu (button) > View Inventory) shows how inventory is affected.
Stock Adjustments can be posted to the ledger to record stock gains or losses. However, a transaction is created for every item. The Accounting Report shows how the transaction is posted to the ledger.

Stock Adjustment for three ink items, showing the In Stock, Count and negative Qty and Total values — Stock Adjustment Edit View

Inventory Report showing how a stock adjustment affects inventory — Stock Adjustment Inventory Report

Accounting Report showing the ledger entries posted for a stock adjustment — Stock Adjustment Accounting Report

Transfer Issued

Transfer Issued (transactions) are needed only if inventory is stored in multiple locations and counts are kept for each location.
For example, a Transfer Issued (transaction) is created at head office to transfer stock to a branch.
The branch counts the stock and approves or edits the Transfer Received (transaction) (which is copied from the Transfer Issued (transaction)).
The Inventory Report (Menu (button) > View Inventory) shows how inventory is affected.
Items can be added only after both the From and To locations are set.
Only items that are stored at both the From and To locations or are stored at All locations can be added.

Transfer Received

Transfer Received (transactions) are needed only if inventory is stored in multiple locations and counts are kept for each location.
For example, a Transfer Issued (transaction) is created at head office to transfer stock to a branch.
The branch counts the stock and approves or edits the Transfer Received (transaction) (which is copied from the Transfer Issued (transaction)).
Items cannot be added to a Transfer Received (transaction) because it must match the Transfer Issued (transaction).
The Inventory Report (Menu (button) > View Inventory) shows how inventory is affected.