How to make inventory transfers and adjustments

There may be times when you need to move inventory from one location to another, or you may need to adjust your inventory counts due to damaged, spoiled or missing items. aACE features an Inventory Adjustment module for making the adjusting entries.

Inventory Transfers

Transfers are used for movement, say from one location to another. These entries do not have any cost of good sold integration because the value of the inventory is not changing.

  1. Navigate to the Inventory Adjustment screen. From the Main Menu, click Inventory > Inv Adjustments.
  2. From the New menu, click Transfer.
  3. Enter the transfer details. In this example, we are moving 8 unites from Bin 1 to Bin 2.
    Inventory_Transfer.png 
  4. When finished, click Save.
    The transfer of the items from Bin 1 to Bin 2 is reflected in the Category's Bin Balances tab as shown below.
    Category_Bin_Balance.png 

Inventory Adjustments

Inventory adjustments tell the system that the inventory levels have actually changed. Therefore, these entries have cost of goods sold integration.. For example, a -2 in the Adjustment Quantity field will remove the value of two items from the related inventory account in the general ledger.

  1. Navigate to the Inventory Adjustment screen. From the Main Menu, click Inventory > Inv Adjustments.
  2. From the New menu, click Adjustment. (Or if you are using the Inventory Counter Mobile App, this has been created for you by the system.)
  3. Enter the adjustment details. All highlighted fields are required. The layout is setup for a "counting" scenario, such that somebody would be counting what is on hand, compare that to what is in the system, and make the appropriate adjustment. As such, the aACE inventory balance is given and users enter the inventory count. At this point an adjustment will be automatically entered to account for the difference. This value, however, can be overwritten, if necessary.
    Inventory_Adjustment.png
  4. When finished, click Save.
  5. After saving the line item, from the Actions Menu select "Post Inventory Adjustment"
 

Inventory Screens After Adjustment

Once the adjustment is saved, you will see the entry in the Inventory Transactions list, which can be found by navigating to Inventory > Inventory and clicking the Inventory Transactions sub-list:
Inv_Transactions_after_Adj.png
 
The adjustment is also reflected in the lot allocation, as shown below:
 
Inventory_Adj_Lot_Allocation.png
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