New Inventory cycles and fiscal calendar would be updated in Adaco if an organisation/unit were wanting to increase of decrease the amount of Outlet specific Inventories (or stocktakes) they were doing throughout the year.
For example, if a unit carries out a Kitchen inventory every month, but only wants to count it every quarter, they can change the frequency accordingly. The instructions/steps detailed in this article follow this example scenario.
- Go to Property > Setup > Accounting > Inventory Cycle Set-up
- Select New to create an Inventory Cycle
Fig.1 - Creating a New Inventory Cycle
- In the Cycle Name field, type Quarterly
- Set the Cycle type as Monthend
- Put ticks in the Include boxes for all outlets that are 'inventoried' monthly (not just the ones wanted to complete quarterly)
Fig.2 - Creating a New Inventory Cycle
The newly created Inventory Cycle will then display in the Inventory Cycle Setup screen.
- Double-click the old Inventory Cycle to open and edit it
- Remove ticks from the Include boxes for outlets that are to be 'inventoried' quarterly
- Save the changes
Fig.3 - Editing an Inventory Cycle - removing tick(s) from Include boxes
- Still in the Property Setup screen, go to Accounting > Fiscal Calendar
Fig.4 - Selecting Fiscal Calendar from the Property Setup screen
- Expand the desired Fiscal Year and double-click on one of the periods
This will open the Fiscal Year Calendar.
Fig.5 - The Fiscal Year Calendar
- Change the Inventory Cycle for each period to QUARTERLY or MONTHLY, depending on how the year is to be laid out
- Save changes
The property is now ready to create new Inventory cycles and fiscal calendar.