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IM0000 Inventory Management Package Overview 6

Global Setup

 

Application Overview

 The Inventory Management module has many features and options that not all companies may need.  Rather than set these up by default, we give you the option of “Pick & Choose” that which can increase your functionality and meet your extended software needs. 

Run Instructions

 The following is a summary of the features and options to be found in the Global Setup section of this document:

·      Allow Mass Purging of Items In a Range

·      Default Physical Count To auto entry Mode

·      How Many Days to keep Newly received Items

·      Item Generic Search Quantity available

·      Item Generic Search with 2 Description Lines

·      Must Material Cost type/Location exist for Transfer

·      I/M User Defined Code

·      Auto create Inventory Location Control Record

·      Show Bin number On Stock status Inquiry

·      I/M Trx Default receiving account

·      I/M Trx Default Issuing Account

·      Display Item History Information

·      Substitute Items By Class


Processing Procedures

Daily Processing Checklist

 In performing this checklist, complete each step before moving on to the next step.

Batch Processing 

               Step 1     Enter issues, transfers or adjustments assigning proper distributions to the transactions

                      -   Select Inventory Transaction Processing - Add application

                      Note:  Receivings may be entered here if P/O is not installed

 

               Step 2     Verify the inventory transactions entered are correct

                      -   Select Inventory Transaction Processing - List application

 

               Step 3     Post the transactions to the inventory file

                      -   Select Post Inventory Transactions - Post application

 

               Step 4     (optional) Inquiry on stock levels for one or all locations to validate the update

                      -   Select Stock Status Inquiry - Inquiry application

 

               Step 5     (optional) Inquiry on serial/lot numbers to validate the serial/lot update

                      -   Select Serial/Lot Stock Status Inquiry - Inquiry application

 

On-line Processing

 On-line Processing will not permit account distributions to be entered.  These account distributions will need to be entered in the General Ledger package.


               Step 1     Enter issues, transfers or receipt transactions

                      -   Select Inventory Transaction Processing - Add application

                      Note:  Receivings may be entered here if P/O is not installed

 

               Step 2     Verify the inventory transactions entered were correct

                      -   Select Inventory Transaction Processing Audit Report - Print application

 

               Step 3     (optional) Inquiry on stock levels for one or all locations to validate the update

                      -   Select Stock Status Inquiry - Inquiry application

 

               Step 4     (optional) Inquiry on serial/lot numbers to validate the serial/lot update

                      -   Select Serial/Lot Stock Status Inquiry - Inquiry application

 

Weekly Processing Checklist (Batch & On-Line)

 

               Step 1     Determine which items should be reordered

                      -   Select and print the Reordering Advice Report - Print By Vendor application

 

               Step 2     (optional) Create unreleased purchase orders for those items that need to be ordered to maintain proper inventory levels

                      -   Select Create Unreleased PO's By Vendor - Print application

 

Period End Processing

 In performing this checklist, complete each step before moving on to the next step.

               Step 1     Perform Daily Processing Checklist (Detailed in its entirety on the preceding page)

                      -   Verify all issues, transfers, and adjustments when entered and posted as listed in the Daily Processing Checklist

                      -   All reports should be spooled to disk to allow for backup retention

 

               Step 2     If you are using COP, make sure all customer orders are entered and the invoices are posted for the period you are closing

                      -   Refer to COP Period Processing Checklist for proper sequence of steps

 

               Step 3     Make sure all receivings have been entered and posted

                      -   Select Receivings Processing - Add application in the Purchase Order And Receiving package or select Inventory Transaction Processing if P/O is not installed

               Step 4     If performing a Physical Inventory, refer to the Physical Inventory Checklist

 

               Step 5     Recalculate the reorder fields to help in the purchasing of inventory items

                      -   Select Recalculate Reorder Fields - Recalculate application

 

               Step 6     To allow for a frozen stock status report, take a snap-shot of the inventory

                      -   Select Freeze Inventory - Freeze application

 

               Step 7     To aid in determining the value of your inventory, print a stock status report

                      -   Select Stock Status Report - Print application

 

               Step 8     In case changes are entered after the close of the period, run a frozen stock status report

                 -   Select Frozen Stock Status Report - Print application

 

               Step 9     Run the various managerial reports to help in maintaining/analyzing your inventory levels

                      -   Print Usage Exceptions Report

                      -   Print ABC Analysis Reports

                      -   Print Reordering Advice Reports

                      -   Print an I/M Transaction Audit Trail Report

                      -   Print an I/M Distribution To G/L Report

                      -   Print a Job Analysis Report

 

               Step 10   Perform a backup

                      -   Make a period end backup of your ENTIRE Macola system to keep for auditing purposes.  Label and date this backup "Period  ___/___/___  End Backup"

 

               Step 11   Clear the accumulators for this period (make sure all reports have been printed before clearing the accumulators

                      -   Select Clear Accumulators - Clear application  (If you are using the COP package, please clear BOTH I/M and A/R accumulators at the same time from the COP package)

               Step 12   If you are using batch processing, set the beginning balances with the first day of the NEW period

                      -   Select Set Trx Audit File Beg. Balances - Set application

 

               Step 13   Show the history for the period that you just closed

                      -   Select Item History Report - Print application

 

               Step 14   Perform a backup for the beginning of the period

                      -   Make a backup of the data files.  Label and date this backup "Beginning Of Period ___/___/___ Backup"

 

               Step 15   Note:  Changes may be entered for the previous period via the Inventory Transaction Processing application by dating the transactions with the previous period ending date.  These changes will affect both the Inventory and Frozen Inventory quantities and a new value of the inventory may then be printed by using the Frozen Stock Status report.

 

PHYSICAL INVENTORY CHECKLIST

 

               Step 1     Print the Cycle Count Worksheets to aid in the reporting of the quantities that are available for each item counted

                      -   Select Cycle Count Worksheet - Print application

 

               Step 2     Perform Physical Count Processing

                      -   Enter the Inventory Count Tags

                      -   Print an edit list to check for correct unit of measure, and if two tags have been entered for the same inventory item

                      -   Print a Missing Tag List to show which inventory items did not have a tag entered for them

 

               Step 3     Post the tags to update the inventory quantities

                      -   If field #25 in I/M Setup is set to Y, the distributions will automatically be generated for the adjustments in quantities

 

               Step 4     If you are using serial or lot items, verify the quantity on hand versus the serial/lot file by printing the Serial/Lot Stock Status Report.  (A warning will be generated if there is a discrepancy). Use the Inventory Transaction Processing application to make the adjustments to the files

Year End Processing  

In performing this checklist, complete each step before moving on to the next step. 

               Step 1     Perform Period End Processing Checklist (Detailed in its entirety on the preceding page - Step 1 through Step 14)

                      -   Save the backup labeled "Period End Backup" with your other period end backups

                      -   Backup labeled "Beginning Of Period Backup" from Step 14 is optional for Year End Checklist


               Step 2     Perform a final year end backup

                      -   Make a final year-end backup and keep for auditing purposes.  Label this backup "Final Year 20___ End Backup"


               Step 3     Clear the year to date accumulators

                      -   Select Clear I/M Accumulators application and enter Y to clear year to date fields (If you are using the COP package, remember to clear I/M and A/R accumulators at the same time from the COP package)


               Step 4     Perform a backup

                      -   Make a beginning of the year backup and label it "Beginning Of The Year 20___ Backup"

 

 


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