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FIRST STATE ACCOUNTINGINVENTORY CONTROLThe Inventory Control (I/C) module stores information about products and services that is accessed by the order entry, purchase order, estimating, and service management modules. This module was designed to accommodate any inventory model. To make data input easier, there are smaller "view" screens that display only the data that you are interested in seeing so that you don't get bogged down skipping around superfluous fields that you don't use. The I/C module handles all standard methods of costing including LIFO, FIFO, average cost, standard cost, and specific unit. There are slots to store specific serial numbers of high ticket items. It also handles many different types of pricing including discounts for quantities, customer type discounts, sale prices, and list prices. It handles conversion from purchasing to selling units of measure. You can define your own units-of-measure. You can define pricing models and apply them to inventory items. The system supports multiple vendors, or sources, for each item so that you can store costs, lead times, and vendor's item numbers for each item in your inventory. There are multiple ways to classify an inventory item: Give it a class code (product, service, raw material, work in process, kit), a category or department code, up to four descriptions, and up to four subtotal types. You can indicate what general ledger code to use for each item for cost of goods, revenue, and asset accounts. You can specify a location for each item. The system supports multiple warehouses (up to 1000). It tracks on-hand, allocated, available, and on-back-order quantities. Also, you can specify reorder level, reorder quantities, and maximum to order quantities. Physical inventories are easy. There's a physical count worksheet to fill out on the floor (or use a scanner). You then enter the physical count into the computer, print out a variance report, and post only when you are satisfied with the physical inventory. The system makes G/L adjustments for shrinkage or overage. There is a function to record inventory transfers from warehouse to warehouse, from job to job, or from job to warehouse. Every transaction that occurs in inventory is recorded no matter what journal initiates the transaction. This includes receipts from purchase orders or returns, and outgoing movement from sales or job transfers. On-hand quantities do not change without an inventory transaction record saying exactly why. Reports are plentiful. They include inventory listings, stock status report, items to order report, low item listing, vendor price list, inventory valuation report, inventory labels, overstocked item report, items on hand/allocated to jobs, inventory item usage, and transaction listings,
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