Inventory Transfers

Use Inventory Transfers to enter changes of inventory that can't be handled by ordinary purchases or sales.

HINT-- Inventory Transfers are an important part of the Goldenseal inventory management software.

INVENTORY TRANSFER BASICS
Entering Inventory Transfers | Data Fields | Transfer Types | Using Inventory Transfers

WEBSITE INFO LINKS
Inventory Software | Inventory Accounting Software | Inventory Control Software
Inventory Management Software | Inventory Tracking Software

When to Use Inventory Transfers

Use Inventory Transfers to enter the startup inventory quantities that you already own when you start using the Goldenseal software.

You can also use Inventory Transfers to handle the following:

"shrinkage", miscounts or losses
inventory that has increased or decreased in value
items that you manufacture
items that you move from one inventory account to another

Entering Inventory Transfers

To enter an Inventory Transfer, follow these steps:

Choose Special Transfers from the Bank menu, then choose Inventory Transfers from the submenu.
Click the New button, or choose New Record from the Edit menu.
Enter details for the transfer.

Data Fields

Enter the following information for each Inventory Transfer:

Transfer Type-- Choose the type of inventory adjustment that is being made.
Inventory Type-- Choose whether you are adjusting a material Cost Item, an Assembly or an obligation Cost Item.
Category-- Choose the cost category to which the item belongs.
Subcategory-- Choose the cost subcategory to which the item belongs.
Item-- Choose the item that is being adjusted. You can leave this field blank to adjust inventory values in Inventory Accounts without adjusting quantities of any Cost Items.
Quantity-- Enter the amount of adjustment that is being made.
Unit Value-- The unit value for this item is entered automatically. Change the number if you'd like to use a different value for this inventory adjustment, or if you aren't including a cost item.
Total-- The total amount of adjustment is calculated.
Date-- Enter the date of the transfer.
Record Number-- A transaction record number is entered automatically.
Take From-- Choose the type of account that is providing the items being transferred.
Take From Account-- Choose the account that is providing the items being transferred. Some transfers don't use this field.
Add To-- Choose the type of account that is receiving the items being transferred.
Add To Account-- Choose the account that is receiving the items being transferred. Some transfers don't use this field.
Comments-- Enter any comments you have about this transfer.

Transfer Types

The following types of inventory transfers are available:

Transfer-- Move inventory from one account to another.
Manufacture-- Manufacture an Assembly or a Cost Item. Stock of the manufactured item is increased.
Revalue-- Change the value of existing stock.
Shrinkage-- Reduce the quantity of existing stock, and charge a job account for the loss.
Startup Stock-- Enter items already owned by the company when the company file is first stated. Their value will be added to the Starting Value field in Inventory Accounts.

Using Inventory Transfers

When you enter an Inventory Transfer, the Goldenseal software adjusts the quantities of Assemblies and Cost Items, and also updates the value of items of Inventory Accounts.

Use Inventory Transfers to handle any changes in inventory control beyond the usual purchases and sales of items.