Inventory Control is a computer application that helps you create and maintain
item records and item classes, enter and edit transactions, and print inventory
analysis reports. Information compiled in Inventory Control is used to generate
the Purchase Advice Report, Transaction History Report, Stock Status Report,
and other important inventory reports.
Create Item Classes
Creating and using item classes allows you to:
• Shorten the item setup process by assigning the same information to
many items at once.
• Change or add information for many items, by entering the changes
once and then rolling down the changes to items assigned to the
class.
Use the available sort option on reports, SmartList and inquiries.
Create Item Categories
Create up to six item categories to define broad groups of items in inventory.
Within each category, you can assign an unlimited number of values. Categories
provide greater flexibility when sorting reports and tracking movement patterns
in your inventory.
Maintain Items
Once item records have been created, you can track information about lotnumbered
and serial-numbered items, and assign a unique price list. Valuation
methods also may be selected on a per-item basis.
Maintain Multiple Sites
Once you have created item records, you can track item quantities at multiple
sites or locations.
Maintain Multiple Bins
Once an item/site record has been created, you can track item quantities at the bin
level. Assign bins to a site and identify default bins for an item/site combination.
Maintain a Company Stock Calendar
The Stock Calendar provides the ability to set working and non-working days
specifically for inventory counting purposes. In addition to tracking working
days, you can enter other company settings such as shifts and start time.
Customize Transaction Entry and Posting
Transactions can be posted:
• Individually (transaction level posting)
• In single-use batches
• In recurring batches
Recurring batches are useful for transactions that occur regularly, like an increase
adjustment for an item received on a weekly basis. Determine how often to post
batches - weekly, monthly, or after a specified number of days - automatically
incrementing the transaction date each time you post.
Transfer Items
Transfer transactions allow you to change quantity types from one type to
another. You can transfer items from one site to another and change item types at
the same time.
Adjust Transactions
Adjustment transactions allow you to increase or decrease item quantities. When
entering decrease transactions:
• Choose to override the quantity available.
• Decrease inventory beyond the quantity recorded in Inventory
Control.
• View the quantities available for a specific unit of measure.
This provides flexibility when there is a shortage of one unit of measure for an
item, or when deciding whether to order more of an item.
Perform Stock Counts
Stock Counts allow you to process the variances between actual inventory
counted and the on-hand quantities in inventory. By specifying count frequencies
for all of your items, Microsoft Dynamics GP determines which items are
scheduled for a stock count and creates a Stock Count Schedule. Once the Stock
Count Schedule has been created you can:
• Start the count.
• Enter actual quantities on-hand.
• Process the stock count to automatically generate variance
transactions.
These variance transactions then update the General Ledger.
Print a Physical Inventory Checklist
The physical Inventory Checklist allows you to print a list of all the quantities
on-hand, including lot and serial numbers, sorted by any of multiple options. This
allows you to organize the list according to the order in which a physical count of
your items will be completed.
Print a Purchase Advice Report
The Purchase Advice report can be used to identify item quantities that are
greater or less than the quantity level you want to maintain. In addition, this
report displays the quantities to order to maintain the inventory items.
Print Reports to Multiple Locations
You can send reports to a file, a printer, or the screen. Microsoft Dynamics GP
provides the flexibility to view reports in whatever format is needed.
Query Transaction Details
Microsoft Dynamics GP querying tools provide a total financial picture by
allowing you to zoom on the origin of a particular transaction. This feature can
be especially helpful if you suspect an error in a transaction and need to trace it
back to its origin. You can also use Inventory Control's inquiry windows to
access documents and customer balances in detailed and summary form.
Microsoft Dynamics GP allows you to perform inquiries on transactions and
purchase receipts as well as on item, serial number and lot number information.
Inventory Control Integration
Integration is the process of linking two or more modules to form a
comprehensive business management system. When you install Microsoft
Dynamics GP modules, they are automatically integrated. Information is shared
between modules, making data entry faster, easier, and more accurate. You can
print reports that are more detailed than is possible in a manual accounting
system, because information entered in one module can be combined and
analyzed with information from other modules.
Information from Inventory Control is used by the following Microsoft Dynamics GP modules:
• Sales Order Processing
• Invoicing
• Purchase Order Processing
• Bill of Materials
• Manufacturing
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