Navigation: Inventory Control > Setup System Inventory Options |
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INVENTORY CONTROL > Setup system > Inventory options
These settings affect various utilities in the Inventory Control Module.
Field |
Description |
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Enable Inventory Control |
•Check this box to enable the Inventory Control Module, then fill in your primary stock cost center in the field below. •Please review Getting Started with Inventory Control. |
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This is your primary Stock Cost Center. You can optionally create additional Stock Cost Centers using the check-box in the Cost Center Master File. This is used to determine whether or not to update perpetual inventory levels when items are received. For details, see The Use of the Stock Cost Center.
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This determines the value that will be charged to cost center history and budgets when inventory usages are processed, as well as how inventory will be calculated on various reports, such as the Inventory Valuation Report.
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FIFO inventory value – Open receipts |
This is used to calculate the First-In-First-Out value of an item (e.g. to value usages or for the Inventory Value Report) when the item in stock came from a receipt transaction but the receipt has not yet been matched to an invoice. If you use the average invoice value, the open receipt will be valued at the average value of all invoices for the applicable Purchase Order line item (which assumes, of course, that there are other receipts/invoices for the line item other than the receipt in question). If the PO line has not been invoiced at all, the PO value will be used. Alternatively, you can use the Purchase Order value, in which case any invoices against the PO line item (for other receipts), if any exist, will be ignored. |
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FIFO inventory value – unresolved quantities |
This is used to calculate the First-In-First-Out value of an item (e.g. to value usages or for the Inventory Value Report) when the system can’t find a receipt for the item and so the system will not have a corresponding PO and/or invoice to get the value from. This might happen if manual stock adjustments are made or when first setting up the system, before POs are processed.
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Non-stock item valuation |
This setting determines how non-stock items will be valued on applicable reports. At the time of writing, this only applies to the BOM Valuation Reports but additional reports and/or screens may use this setting in the future.
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Default value for ‘maintain stock’ when adding new item. |
This determines whether the “Maintain Stock?” check box will default on (checked) or off (unchecked) when adding new items to the Item Master File. This is a primarily a convenience (time saving) feature only. If most of your items are one way vs. the other, this can save a mouse click for each new item added to the system. If all your items are maintained in stock, you might want to default all items to be Stock Items and optionally restrict access to the “Maintain Stock?” field in the Item Master File so that it cannot be changed, thereby eliminating the possibility of making a mistake. |
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Allow direct charge of stock while maintaining in-stock balance? |
Check this box to use the "Direct Charge Stock" feature and allow items to be charged directly to end-user (Non-Stock) Cost Centers while maintaining the items in inventory at a zero dollar value. For complete details, see the “Direct Charge Stock Items” sub-section in The Use of the Stock Cost Center. Checking this box simply enables this feature and gives you the ability to define items as "Direct Charge Stock Items" in the Item Master File. You must then set up one or more items accordingly to start using the feature. |
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Print Packing Slips for Usages |
Check this box to enable Packing Slips. |
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Only allow locations assigned to item |
Check this box to only allow the Inventory Locations specified for the item to be used on Purchase Orders and other transactions, otherwise users will be able to select any location in the Location Master File when entering these documents/transactions. |
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Display/Calculate Stock Forecast |
Check this box to display the ”forecasted number of weeks supply” for items (i.e. how long the applicable quantity will last) when entering Purchase Orders and other transactions and when viewing stock status. Displaying/calculating the forecast consumes system resources so this feature can be disabled to maximize system performance, if needed. How is the forecast calculated?
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Number of months |
The number of months of history to consider when calculating the ”forecasted number of weeks supply” for items (i.e. how long the applicable quantity will last). This will be used for the "Display/Calculate Stock Forecast" setting, above, as well as various reports that forecast stock usage. Enter 999 to use the entire history of items in the forecast calculations. The more history you include, the longer the calculations will take. |