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See also: Stock History Months
System Five deals with the inventory on a first in, first out (FIFO) basis. In the Inventory Details window - Cost and Stock Levels tab, as shown in Figure 1, displays the quantities that have purchased along with the cost and quantity in stock information.
Figure 1: The Cost and Stock Levels tab
You can manually change the stock levels to add or subtract inventory to the current level. Manually entering a value in a blank Stock column will have the same end result as clicking the [Create Stock Adjustment] button, as shown in Figure 10, but with the exception of pre-loading the Quantity to Add/Remove field. Over-typing and existing quantity in the Stock column will ask for confirmation, as shown in figure 2, and then make a manual adjustment. A negative adjustment cannot be made by over-typing and will be processed as if zero had been entered.
Figure 2: Over typing the Stock field
Clicking [Yes] adjusts the stock level. Clicking [No] cancels the operation.
Lines in the Cost and Stock Levels grid that show in grey cannot be edited because they are currently reserved, (i.e. on a work order, or as special order stock for an invoice). Some tab functions work in relation to the window's Toolbar. Click Toolbar to view detailed information about the Toolbar button options.
This tab is functionality different when using the Advanced Inventory Control module.
The basic System Five functionality is discussed in the Standard Inventory Control section while the additional functionality is discussed in the Advanced Inventory Control section.
An additional column is displayed for serialized inventory items, as shown in Figure 3.
Figure 3: The Cost and Stock Levels tab - Serial Numbered items
The Serial # column contains a button that when clicked displays a list of the serial numbers for the selected stock record. The serial number listing is shown in Figure 4.
Figure 4: The Serial Number Listing
In the event that you are using a departmentalized system and you perform Transfers of Serial Numbered items, the transferred serial number items have a YELLOW background to indicate that they have been transferred to another department.
Pressing [Details] opens the Stock Details dialog box and gives you more information on the particular stock line. For Standard Inventory Control, the Location text box displays the location information from the inventory item record (including serialized items) but can be changed (maximum of 20 characters).
Figure 5: The Cost and Stock Levels tab
Pressing the [PO] cell button brings you to the purchase order associated with that stock line. More detailed information on stock transactions can be found in the Stock and Transaction History reports (Figure 6).
Figure 6: The Cost / Stock Levels Transaction & Stock History Report buttons
With the new Advanced Inventory Control module you are able to distinguish between what stock you are financially responsible as well as what stock has been received but is in transit (i.e., not in a picking location yet).
When using the Advanced Inventory Control module this tab has two additional option buttons: Stock Levels and Cost Levels that affect the columns and information displayed in the grid. This is to reflect the possibility that you could be using different picking and costing methods for the inventory item, and the stock remaining available to sell, may have already been costed.
When you select the Cost option what has become your financial responsibility by receiving is displayed. When you select the Stock option you then have the option to show what is available to be picked/sold or what is in "Slotting" so you see stock in transit from receipt to the final location it is put away in. This stock in transit is not available in the Invoice Details window (View Stock Transactions menu command).
When using the Physical Inventory Count to process count results, the reason, date & clerk are logged. To access this information and a history of this inventory item's stock transactions, click the [History] cell button to open the View Stock Transactions window. To view all stock history click [Stock History] to open the Stock History Report window.
For Advanced Inventory Control, to add or change the location this stock was placed in, click Location [...] to open the Select Inventory Location window where you associate a location to this stock. Note, that you can not change the location in the Stock Details dialog box the [Details] button opens (for Advanced Inventory Control).
The PO column that lists all purchase orders that received stock for the same supplier and on the same date as the stock line.
For example, if the stock line for part "TEST1" is for supplier ABC and was received on Sept 1, any POs that received stock for the same supplier (ABC) on Sept 1, have their numbers listed in this column.
The Stock Details dialog box (click [Details] button in the grid) also displays the same list of PO numbers.
The Stock Levels view (In Stock and Put Away options) is shown in Figure 8 and Cost Levels view is shown in Figure 9.
Figure 7: The Cost and Stock Levels tab - In Stock View
Figure 8: The Cost and Stock Levels tab - Stock Levels view
Figure 9: The Cost and Stock Levels tab - Cost Levels view
See the Inventory Details window for access information or information about other window parts.
Note: If a stock adjustment is being made to correct a discrepancy between the Stock lines and the quantity being reported on the Information tab, then try using the Fix Quantities first.
To change the stock levels and add or subtract inventory, use the [Create Stock Adjustment] option as shown in the Figure 10.
Figure 10: Create Stock Adjustment
In the Inventory Details window when [Create Stock Adjustment] is clicked a dialog box appears, as shown in Figure 11:
Figure 11: Create Stock Adjustment dialogue
After clicking [Yes] the Manual Adjustment window appears, as shown in Figure 12.
Figure 11: Manual Adjustment window
Enter the Quantity to add/remove or New Quantity and a comment. After clicking [OK], if a quantity was added then a new line will have been added to the grid. If a negative amount was entered then the an existing line or lines will have been adjusted based on the (FIFO) rule.
When adding stock for consignment Items with a manual adjustment, or attempting to clear the default supplier on the Inventory Information tab, a warning message will be displayed, as shown in Figure 12.
Figure 12: No supplier warning for consignment items
The Cost and Stock Levels grid displays comments entered when making adjustments. To add comments in order to explain the reason for the manual stock adjustment click [Details] cell button on the right side of the window. There is an optional setting that can force the input of a reason comment for all stock adjustments.
To set this option go the Setup Wizard > Inventory > Inventory Options 3. Check the Force the input of a reason comment check box as shown in Figure 13.
Figure 13: Force the input of a reason comment
When this option is checked, the creation of a Stock Adjustment forces the Inventory Detail window open, as shown in Figure 14, and will not allow you to exit until you put something in the comment field.
Figure 14: Blank comment warning
The Fix Quantities option, as shown in Figure 15, can be used when the stock records do not agree with the quantities on the Information tab. This function is only available when in Supervisor Mode.
Figure 15: Fix Quantities
Right click the grid and select the Fix Quantities option from the popup window, then switch to another inventory record and back again to ensure the screen refreshes.
See also: Inventory Details window