after physical inventory THEN what?


O

OlyBikes

I did a physical inventory of my smallest department to test out how that
works in RMS. I had a few "deltas" which I double-checked. I set reason
codes and committed the new amounts to the database.

NOW WHAT?

Obviously, there is some entry that needs to be made in my accounting
software for those deltas. I use Quickbooks, though I do not have any
automatic posting to it set up yet (a goal for next year). How do I make an
entry to correct for the corrected inventory values?

Thanks and PLEASE Cc me directly.
______________________________________________________

Larry Leveen
OlyBikes
Bikes, Parts, Repairs
& GREAT Customer Service!

124 State Avenue NE
Olympia, WA 98501

P: 360-753-7525
F: 360-528-7526
(e-mail address removed)

www.olybikes.com
Featuring free bike advocacy and safety materials!
 
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C

Craig

After your done with your inventory, do a 'Item Movement History Report' on
the reason code you used when you did the inventory. You will need to enter
the name of the reason code in the filter, not the code#. This will give you
the total $ amount you will enter as an adjustment in QB. You will need to
do this adjustment manually, as it won't be included in any post. The
default 'Item Movement History Report' that comes with RMS doesn't give you
a $ amount,just quantity, so you will need to download 'Item Movement
History Report with Cost' from Customersource to get these totals.
Craig
 
J

Jeff @ Check Point Software

Oly & Craig,

Actually its even easier. Go back into the Physical, print it while adding the Delta Cost column. Then click the Group icon once and the Delta Cost is now totaled. That is your inventory adjustment amount that you post to your accounting program.

--

Jeff
Check Point Software

=====================================================

You must be using Outlook Express or some other type of newsgroup reader to
see and download the file attachment(s). If you are not using a reader, follow
the link below to setup Outlook Express. Click on "Open with newsreader"
under the MS Retail Management System on the right.

http://tinyurl.com/75bgz
=====================================================

After your done with your inventory, do a 'Item Movement History Report' on
the reason code you used when you did the inventory. You will need to enter
the name of the reason code in the filter, not the code#. This will give you
the total $ amount you will enter as an adjustment in QB. You will need to
do this adjustment manually, as it won't be included in any post. The
default 'Item Movement History Report' that comes with RMS doesn't give you
a $ amount,just quantity, so you will need to download 'Item Movement
History Report with Cost' from Customersource to get these totals.
Craig
 
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C

Craig

Thanks for that Jeff, but I do a report on reason codes once a month so I
get the total then.
Craig
Oly & Craig,

Actually its even easier. Go back into the Physical, print it while adding
the Delta Cost column. Then click the Group icon once and the Delta Cost is
now totaled. That is your inventory adjustment amount that you post to your
accounting program.

--

Jeff
Check Point Software

=====================================================

You must be using Outlook Express or some other type of newsgroup reader to
see and download the file attachment(s). If you are not using a reader,
follow
the link below to setup Outlook Express. Click on "Open with newsreader"
under the MS Retail Management System on the right.

http://tinyurl.com/75bgz
=====================================================

After your done with your inventory, do a 'Item Movement History Report' on
the reason code you used when you did the inventory. You will need to enter
the name of the reason code in the filter, not the code#. This will give you
the total $ amount you will enter as an adjustment in QB. You will need to
do this adjustment manually, as it won't be included in any post. The
default 'Item Movement History Report' that comes with RMS doesn't give you
a $ amount,just quantity, so you will need to download 'Item Movement
History Report with Cost' from Customersource to get these totals.
Craig
 

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