Stock Transaction Processing

his form is the data entry portion for processing the following transactions:

 

l          Stock-in - when inventory is received into a storage location from outside the system.

 

l          Stock-out - when inventory is being issued out from a storage location to outside the system.

 

l          Stock transfer - when inventory is being moved from one storage location to another.

 

Stock adjustments are processed as a separate transaction.

 

Transactions in the inventory control module covers those which are entered directly using this form as well as those which are generated by the system to reflect transactions in other modules. System generated transactions include the following:

 

l          Shipments from the sales module. These are treated as stock-outs.

 

l          Sales Returns, also from sales module. These are treated as stock-ins.

 

l          Goods received from the purchasing module. These are treated as stock-ins. During Goods Received Processing, the items which do not required Q.C. inspection are automatically reflected as stock-in quantities. Those which will need Q.C. confirmation, will not.

 

l          Goods accepted during Q.C. inspection. These are treated as stock-in. Goods rejected during Q.C. processing will not be reflected at all in the inventory module. In other words, the movement entries from Purchasing module's goods receiving functions will reflect only those quantities which are accepted.

 

l          Purchase Returns. These are treated as stock-outs.

 

System-generated movement transactions cannot be changed nor deleted by the user.  These transactions may, however, be viewed and the corresponding documents printed. In cases where the transaction is incorrect versus the actual physical movement of inventory, the originator of the transaction will have to be informed in order that the proper changes can be made. For instance, in order to correct an erroneous stock-out to cover for shipment, the user or responsible person for the Shipment Processing function in sales will need to do the changes.



Explanation of Fields

 

Ref. No.

 

Capslock. Required. Cannot be changed by the user after the record has been saved.

 

Only those records where Source_Type is "Entry" can be edited by the user. If the source type is not "Entry", the only editing allowed is for the user to change the Destination Bins and/or Source Bins for each of the movement details. Basically, if the source is not "Entry" the user is allowed only to view the transaction and its details, print the stock movement document, or post the transaction.

 

Date

 

This is the date of the transaction. Default to the system’s current date.

 

Location

 

The first edit box is linked with Location_From – the source location. The second is linked with Location_To – the destination location. Valid combinations are:

 

Location From

Location To

Transaction Type

Blank

Not Blank

Stock-In

Not Blank

Blank

Stock-Out

Not Blank

Not Blank

Stock Transfer

 

(Valid only if Location_From is not the same as Location_To)

Blank

Blank

NOT ALLOWED

 

 

If transaction type is not allowed, Error “Invalid combination of source and target locations”

 

For Stock Transfer, the source location must not be the same as the destination location. Error “Source and target locations in stock transfer must not be the same”.

 

The location codes entered must be valid location codes. Error “Invalid location”.

 

The entries here cannot be changed by the user after the record has been saved.

 

Cost Centre

 

Processed only if accounting is implemented for this company.

 

If Stock Transfer, display only. Set to blanks.

 

The cost centre that is specified for the transaction will determine the account codes that will be used when the financial implications of the transaction is transferred into the General Ledger system. In effect, the cost centre, also specifies the sub-type of the transaction.

 

Sub-types means, for instance, that for Stock-Ins, there are different reasons why inventory is being issued out. One reason could for inventory that is being condemned. Another may be for such reasons as inventory that are to be donated to third parties that are not covered in sales processing functions. In this example, each of the sub-types (condemned stocks, donated stocks, etc.) may be assigned to different expense account numbers. The account number itself that will be used is specified in the cost centre definition.

 

For stock-outs, the "cost of goods" or "expense" account will be taken from the Issue_Account of the cost centre definition.

 

For stock-ins, the "income" or "value source" will be taken from the Receipt_Account of the cost centre definition. Note, however, that this applies only to transactions that are directly created within the Inventory Control module. Transactions generated by the system to reflect goods received in the Purchasing module, will not generate a General Ledger entry---because the financial implications of these transactions are already covered when the invoice for the goods received are processed.

 

Explanation

 

Optional.  Enter any narrative which will describe the transaction. The system treats the entries here as comments.

 

Source

 

Both of the fields are for display only. If the transaction is created directly from the Inventory Control module (that is, as against transactions transferred from Sales or Purchasing), will be initialized to “Entry” when a new transaction is saved.

 

The first box describes the type of source and can either be "Entry" or the particular type of transaction which was the basis for the transaction. If not "Entry" and the transaction was generated by the system from the Purchasing module, it may, for instance, be "Goods Received" or, maybe, "Purchase Return". The valid values here are:

 

·        Goods Received

·        Purchase Return

·        Shipment

·        Sales Return

 

The second box is applicable only if the source type is not "Entry". This is the reference number of the original transaction which was the basis for generating this stock movement transaction. For example, for "Goods Returned", this would be the GRN No. of the source transaction from the Purchasing module.

 

Explanation of Detail Fields

 

 

Item No.

 

Required. Capslock. If item is not Authorized, the item number will not be accepted. Error “Item specified is inactive”.

 

If Item Type is “Non-stock”, do not accept. Error “Item specified is a non-stock type”. What this means is that only "stock items" are allowed to be processed in the Inventory Control module.

 

Item Name

 

For display only.

 

Unit

 

For display only.

 

Qty

 

Must be greater than zero.

 

Unit Cost

 

Must not be less than zero.

 

Total Cost

 

For display only. Computed as Qty * Unit_Cost.

 

Line Ref.

 

Optional. Capslock.

 

The system treats the entry here as comments and it is the user's responsibility to attribute a standard interpretation for the meaning of the entry.

 

Particulars

 

Optional. For entering any other comments.


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