ManualDoc:TBD883B355F1B448A9CB6BD472600EB2D

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:

• if the "Fix Backdated Transaction" is active, the "Inventory Amount Update" launched for the product, will then consider the "backdated" transactions booked for that product, therefore the stock shown will be 50 units. Backdated transaction "movement date" is consider in this case.
• if the "Fix Backdated Transaction" is not active, the "Inventory Amount Update" launched for the product, will then not consider the "backdated" transactions booked for that product, therefore the stock shown will be 0 units. Backdated transaction "movement date" is not consider in this case but transaction "process date" (current date).

Some fields to note are:

• Reference Date: that is the date when inventory amount update needs to be booked/posted to the ledger, therefore it could impact the cost of product transactions dated on an later date.
• Product: that is the product whose inventory amount needs to change
• Current Inventory Amount: once product has been selected this field shows product current inventory value at given reference date
• Current Unit Cost: once product has been selected this field shows product current unit cost
• On hand qty: once product has been selected this field shows product on hand quantity at given reference date
• Inventory Amount: this field allows to enter a "new" inventory amount for the product. Once entered "Unit Cost" field is populated accordingly by taking into account On hand quantity field
• Unit Cost: this field allows to enter a "new" unit cost for the product. Once entered "Inventory Amount" field is populated accordingly by taking into account On hand quantity field.

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.