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Inventory Amount Update

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Contents

Introduction

Inventory Amount Update window allows to change either current inventory amount or current unit cost of products in stock at a given reference date.

Once created and processed it generates a closing and an opening inventory for the product(s), which can be reviewed in the Inventories tab.

Whenever an inventory amount update is created on the current date, therefore movement date is the same as transaction process date, all existing transactions remains valued at the existing cost but new ones booked starting from current date, that will be valued at the new cost.

Whenever an inventory amount update is created in the past, those closing/opening inventories will have a movement date in the past and a transaction process date. These inventories will be set as "Backdated" transactions by the Costing Background process, therefore the corresponding backdated cost adjustment can be created.

These two inventory transactions, opening/closing inventory can be reviewed in the Transactions tab of the product window and can be posted to the ledger in the Physical Inventory window.

Header

An inventory Amount Update can be created and processed in the header section of the Inventory Amount Update window.

An inventory amount update can be created, managed and processed in the header section of the Inventory Amount Update window.

Some fields to note are:

InventoryAmountUpdate.png

Lines

Once an inventory amount update header has been properly created and saved, inventory amount update lines can be created in this tab.


An inventory amount update can have as many lines as products whose current cost or inventory amount needs to be modified for whatever kind of reason.

When selecting a product and entering a given reference date current inventory amount, on hand qty and current unit cost for the product are automatically filled in.
To complete the line it is necessary to fill in either the "Inventory Amount" or the "Unit Cost".

It is important to remark that product quantity on hand shown in an "Inventory Amount Update" can vary if the "Fix Backdated Transaction" flag is active/not active in the corresponding Costing Rule.

For instance, a receipt of 100 units is booked for a product at current date, and after that another receipt of 50 units is booked for a product with a movement date in the past. This last one receipt is a "backdated" transaction.

An Inventory Amount Update is launched for the product dated on between, before current date:

Some fields to note are:

InventoryAmountUpdateLine.png

Once created, an inventory amount update can be processed by using the process button "Process".
That action creates a closing and an opening inventory transactions that can be reviewed in the Inventories tab.

Inventories

A closing and an opening inventories are created for every product whose unit cost or inventory value have been modified.

This "read-only" tab contains links to detail information such as:

InventoryAmountUpdateInventories.png

Opening and closing inventory can be reviewed and post to the ledger in the Physical Inventory window.

Closing inventory posting creates following accounting entries:

Account Debit Credit
Warehouse Differences Current Inventory Amount
Product Asset Current Inventory Amount


Opening inventory posting creates following accounting entries:

Account Debit Credit
Product Asset New Inventory Amount
Warehouse Differences New Inventory Amount



Full list of Inventory Amount Update window fields and their descriptions is available in the Inventory Amount Update Screen Reference.

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Retrieved from "http://wiki.openbravo.com/wiki/Inventory_Amount_Update"

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