Accounting-Inventory

Draft Inventory Process

1. Reconcile Balance in FUELINVENTORY > FUELINVENTORY
   1. Write down current balance from portlet

1. 1. Go to FUELINVENTORY > FUELINVENTORY
   2. View Inventory Transactions
   3. Set Filter Received = 0
   4. Download
   5. Add Quantity in Excel
   6. Quantity must = Current Balance
   7. Select a transaction that has not been processed (Received toggle is to the left)
   8. Find the actual invoice for the transaction.
   9. Figure out the quantity purchased in the appropriate unit of measure.  This may come from the “paper” invoice.
   10. Figure out the unit price.  You may need to use the “paper” invoice to figure this out since the quantity for blanket PO’s is not in the transaction.
2. Go to the Lies with Real Part #, Phantom Storeroom (e.g., UNLEADED or DIESEL > FUELINVENTORY or PN008087 > OTHERINVENTORY)
   1. Don’t forget to Change the view to All Records

1. Verify the Current Balance = 0
2. Inventory Adjustment > Average Cost

1. Enter the unit price calculated above in 1.e. in the New Average Cost (Don’t worry if there’s an existing Average Cost in this Phantom storeroom, the quantity must be zero so it calculates to zero)

1. Click Ok

1. Inventory Transactions > Current Balance

1. Current Balance must be 0.00, if it is not someone did something wrong previously.
2. Enter New Balance as the Quantity that was invoiced (remember the quantity may not be the balance in the Phantom Inventory – you may have to calculate, see above)

1. Click Ok

1. Transfer Current Item è This is what move the part into “Reality”
1. Enter the correct Quantity from 1.d. above
2. Enter the “real” Storeroom
3. Make sure the conversion factor says 1 (this will come in when you enter the storeroom)

1. Click on Ok

1. Reduce the quantity in the Phantom Part # and Phantom Storeroom
1. Go Home
2. Click on the Item and Storeroom you are working on in the Central Inventory portlet
3. Inventory Adjustments > Current Balance

1. Change the New Balance to Current Balance – Quantity from the Phantom Transaction you just took care of (remember this may NOT be the quantity you used for the Lies and Reality, it won’t be for the blanket Pos)
2. Click Ok

1. View Inventory Transactions
2. Open the ^ next to the transaction and click on the button to Toggle the Reception Status  (a.k.a. done)