Structure Type: Property Only
Navigation: Inventory > Start Period Inventory or Start Interim InventoryThere are two types of Inventory which can be run:
This enables month-end tasks to be completed. Inventory is usually performed for the certain periods, and the Fiscal Calendar specifies the date ranges of each period.
Each period must be closed, and after a period is closed, no transactions can be posted to that period. For example, the period for June is from 1 June to 30 June. If the Inventory process is started on the 27th June, and close the period on 28th June, then other users cannot post transactions for 29th June and 30th June. It is recommended to start the Inventory process on the last day of the period.
Interim Inventory is an addition to a regular Month-end Inventory. It is used to perform outlet Inventory at any time of the financial period. It can also be performed at the end of the month to perform Inventory at different times for different Outlets.
Please Note: If Interim Inventory is used instead of month-end inventory, Outlets and Locations which were added to the Interim Inventory cycle from the month-end cycle should be removed.
Fig.1 - Start Inventory
|Inventory Type||Displays whether the Month-end or Interim Inventory is selected.|
|Inventory Cycle||An Inventory cycle is a list of Outlets at which Inventory is counted. Typically, a Property has more than one Inventory cycle. For example, some properties have Inventory cycles for monthly counts of Inventory and for year-end counts of Inventory.|
|Fiscal Year||Current year as set at Property > Setup > Accounting > Fiscal Calendar|
|Fiscal Period||Current fiscal period as set at Property > Setup > Accounting > Fiscal Calendar|
|Starting Date||Fiscal period start date as set at Property > Setup > Accounting > Fiscal Calendar|
|Ending Date||Fiscal period end date as set at Property > Setup > Accounting > Fiscal Calendar|
|Cycle Number||Current cycle number as set at Property > Setup > Accounting > Inventory Cycle Setup|
|Cycle Name||Current cycle name as set at Property > Setup > Accounting > Inventory Cycle Setup|
|Last Setup Date||The date when the cycle was set at Property > Setup > Accounting > Inventory Cycle Setup|
|Last Setup By||A name of the person who created this cycle.|
|Outlet Number||A number of an outlet in the Inventory cycle.|
|Outlet Name||The name of the outlet for which the Inventory is performed.|
|Location Number||Corresponding Location number.|
|Location Name||Corresponding Location name.|
Please sign in to leave a comment.