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AccountMate
6.5
for LAN |
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Inventory Control
Module |
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AccountMate 6.5 for LAN’s
Inventory Control module gives
you to ability to define each
inventory item’s cost method,
unit of measurement, warehouse
and bin location, and other
parameters. It also enables you
to track the movement of inventory
by warehouse, and to use
multiple bins in the same warehouse
for an inventory item; with
this feature, you can quickly
locate the items ordered by your
customers. You can assign serial
numbers to inventory items,
define multiple substitutes for an
item, set up warehouse and bin
when creating inventory type
records, record transfers of units
between warehouses and bins,
lists all the suppliers of a particular
item and highlight the vendor
that offers the best price, copy
inventory records from another
company, and facilitate physical
inventory counts.
Integrating this module with the
Accounts Receivable, Sales
Order, Purchase Order, and
Manufacturer's Inventory, Kitting,
and Lot Control modules adds
power and flexibility to your
entire inventory accounting system. |
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Inventory Control Module
Multiple Cost Methods for Inventory Items
Each inventory item can be assigned a different cost method chosen from
among the following options: Average, FIFO, LIFO, Specific ID, or Average
with Serial Number.
Serial Numbers Can Be Assigned to Inventory Items
You can assign serial numbers to units of inventory items that use either the
Specific ID or Average with Serial Number cost methods. Serial numbers
coupled with the Specific ID cost method allow you to track individual units
and unit costs through the system. Serial numbers can be printed on
invoices and reports; can be entered directly, assigned automatically by
simply entering a few parameters, or imported from text files; and they can
be amended.
The Inventory Serial Number Report provides the details of transactions
affecting serialized items. It also shows a transaction number, which you can
use as reference in determining the actual transaction involving a particular
inventory serial number.
Multiple Vendors Tracked for Each Inventory Item
Inventory items may be supplied by various vendors and in various units ofmeasurement.
When both the Inventory Control and Purchase Order
modules are activated, multiple vendors can be tracked for each inventory
item, and each vendor's price will be converted into common units of
measurement for comparison purposes.
Bar Code
A bar code for a UPC or SKU number is maintained for each inventory item.
Sales order and invoice line items can be entered by simply scanning the
product bar codes.
Inventory Transfer between Items, Warehouses and Bins
Inventory items can be repackaged into smaller or larger units, and can be
transferred from one bin or warehouse to another, with the option to transfer
items at standard costs in order to maintain cost stability. Any transfer cost
variance is automatically posted to the General Ledger for proper cost
accountability. Transfers between warehouses can also be treated as "intransit"
until the items are posted as received at the target warehouse.
Build On-The-Fly Kit Items
When Inventory Control is coupled with the Kitting module, you have the
ability to simultaneously build and ship kit items from within one function.
You can elect to ship kit items without going through the Build Kit Item
function by unmarking the Require Prebuild option in the inventory record upon initial setup.
This enables faster order processing.
Quantity for Build On-the-Fly Kit Item Window
Adding Warehouse and Bin Setup in Inventory Type Settings
You can define
default warehouse
and bin when setting
up inventory type
records. When
inventory items of
the same type are
set up to use certain
warehouses and bins, this feature can save users a lot of time in setting up the inventory
item records.
Physical Inventory Counts
Inventory counts can be performed at any time and as often as needed. Inventory counts
can be processed without interrupting shipping and receiving procedures. Worksheets
can be printed to record inventory count results. Any physical count variances will be
recorded as an adjustment to inventory assets in the General Ledger, and a Physical
Count Variance Report can be generated for audit trail purposes.
Mass Inventory Price and Cost Update
Basic inventory prices and multi-level prices, for all or selected
inventory items, can be updated by automatically applying a percentage
or fixed amount to the current prices or costs of the items. Standard
costs and return costs can be adjusted similarly.
Inventory Vendor Maintenance
Inventory Adjustments
Adjustments can be
made to any inventory
item at any time. AccountMate enables you to adjust an item's quantity, unit cost or total
value in a particular warehouse and bin, and to specify the General Ledger account to
which the adjustment will be posted.
Multiple Substitutes for Each Item
An unlimited number of substitute items can be defined for each inventory item. This is
very useful when an item is in short supply, or whenever you need to suggest a different
but similar item to a customer.
Mass Copy Inventory
AccountMate has the ability to copy the entire inventory, including item numbers,
descriptions, units of measurement, and the GL Account IDs assigned to the item, from
one company to another.
Inventory Price Update Function
Interfund Balancing
When the company is set up for non-profit accounting, funds are balanced automatically
when the module’s transaction data is transferred to the General Ledger.
Inventory Adjustment Function
Integration with General Ledger, Lot Control, and Kitting Modules
Integration with the General Ledger module gives you maximum control in managing all of
your accounting transactions and provides efficient performance to keep you in control of
your financial data. You can easily post entries for inventory item transactions from this
module to the General Ledger through the Transfer Data to GL and Period-End Closing
functions.
Integration with Lot Control module allows you to assign lot numbers and expiration dates
to the units of the item for tracking and inventory-management purposes.
With the Kitting module, you can create kit items, define formulae for them, customize
standard formulae, and assign kit numbers to built kit units for tracking and proper
management of your inventory.
Other Features
- Multiple unit-of-measurement codes can be created.
- Permits creation of various unit of measurement codes
- Enables set up of multiple warehouses and bins
- Create duplicate serial numbers, if necessary
- The Inventory Serial Number Report enables tracking of serialized items from their purchased until they are sold
- Stores an image of each inventory item.
- Specifies in which other modules' transactions functions each inventory item can be used
- Option to overwrite an inventory item's unit-of-measurement on invoices, sales orders and purchase orders, automatically adjusting the per-unit cost or price for the transaction
- Option to check or update on-hand quantity of each inventory item during the processing of transactions
- Abilty to assign to each inventory item of up to 10 price levels based either on a customer's price code or on the order quantity.
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