Inventory Control

This screen is used to enter physical inventory counts, also known as stick readings. Entries can be made using PBM™ following every count or stick reading (daily, after each shift, at the end of the month, or at any interval) by the client or by the accounting office.

 Select Activities>Inventory Control

The screen will open with all Inventory Type accounts that have Track Qty selected and have associated Income and Purchase Type accounts.  A Statistical Type account will be required for each Income, Purchase, or Inventory account group. 

The date will default to the system date.  Enter to accept or change to the desired date and enter.  Enter physical inventory quantity or stick reading by account in the Actual Inventory field.

• Beginning Inventory—Inventory Qty at the beginning of the Current Period.
• Purchases—The current Month-To-Date Qty balance in the Purchase Account.
• Sales—The current Month-To-Date Qty balance in the Sales Account.
• Calculated Inventory—The beginning Inventory Qty plus Month-To-Date Purchase Qty minus the Month-To-Date Sales Qty.
• Actual Inventory—Enter the physical inventory Quantity or Stick Reading.
• Over/Short—The actual Inventory minus the Calculated Inventory.
• $ Value Inventory—The actual inventory dollars using the most recent per-unit cost.

  Functions

1. Click the Save icon to create a journal entry that will post the Actual Inventory Qty to the associated Statistic account for each line. The entry can be found in the General Journal window. The Page Number assigned to the entry will be in the form: INV-mm/dd/yyyy.
   
2. Click Close to close the window.  If Close is selected before the entry is saved, the following dialog box will appear:
   
3. You can print a report showing the inventory count or stick readings for the month or period selected. The bookkeeper can get the Ending Inventory Qty from the last quantity in the statistical account.