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Tips on Discontinued Items
When you need to inactivate one of your inventory items, your only available option is to change the item type to discontinued, in Item Maintenance:
Logically, discontinued items that has quantity on hand must give users the…
To Check or Not to Check: Understanding Landed Cost's Invoice Match and Revalue Inventory Options in Microsoft Dynamics GP
Dynamics GP presents two selection options in the Landed Cost Maintenance screen: Invoice Match and Revalue Inventory. These two options have profound accounting effects in how inventory and purchases are tracked in GP. The following is provided as is and was posted by Marge Swanson, Senior Software Development Engineer at Microsoft in response to a user's question
on the Dynamics GP community board, but I felt it was important to rescue as it contains valuable information not found in the manuals or elsewhere:
You should determine whether or not to mark the Invoice Match checkbox based on how you want your distributions to be tracked for the Landed Cost. If you do not mark Invoice Match, the distributions will be reversed from the accrued purchases account used on the Shipment – which defaults from the Landed Cost card. If you mark Invoice Match, the distributions will be…
FIFO/LIFO Perpetual Stock Status Report
Using FIFO or LIFO Perpetual to value your inventory? Want a Stock Status report that ties back to your GL balance?
Modify the Purchase Receipts report to sum the quantity fields in the…
Dynamics GP Bill of Materials and Kits
We have received a number of recent queries about the difference between Inventory Assembly Bill of Materials, Manufacturing Bill of Materials, and Kits.
From the simplest to the most complex, Kits:
Kits are transparent in inventory. Only the component quantities exist in inventory; the kit is assembled at the moment of sale, i.e., when the invoice is posted. Kit components can be swapped in and out.
The system will automatically open the Sales Quantity Shortage Options form if any component is not in…
gptip42day - Inventory Site Segment
If you stock inventory in mutiple warehouses (Sites) and want to utilize Site-specific inventory accounts, GP provides a way to automatically code inventory transactions to the proper accounts based on the Site ID where the transaction occurs. Here's how it works. Go
* click iamge to enlarge
When you define a Site, you can enter an account segment for the Site. This allows the Site’s account…
Using the Adjust Costs inventory Utility
It looks like a simple enough tool and it does exactly what you tell it to do. However, read on, what it does may not be exactly what you want it to do. Here's what it does. Say you have a purchase receipt that went through the system at $1465. Several of the items were sold but now the inventory is obsolete and the powers that be task you to write it off. They still want the items in inventory in case they can sell…
Historical Inventory Trial Balance Report
Historical Inventory Trial Balance Report
Microsoft Dynamics GP recently came out with a new feature that would provide GP users that are utilizing the Inventory Module the ability to create a Historical Inventory Trial Balance report. It goes without saying that any company maintaining an inventory has had reconciliation issues between the valuation in the Inventory Module and the General Ledger control account or accounts. The HITB features will allow the following:
• The Historical Inventory Trial Balance report enables users to tie the Inventory Sub-ledger to…
Changing Currency Decimals on Inventory Items
Sometimes we need to change the Currency Decimals on an existing Inventory Item. This cannot be accomplished through the Item Maintenance Card – it must be done via Tools>Utilities>Inventory>Change Decimal Places. This is an easy change to accomplish but be aware that…
Inventory Cycle Counts in Dynamics GP
This video shows you how easy it is to process inventory cycle counts in Dynamics GP. Set…
Week 3: Did you know? Series of the Week
Weekly, the Dynamics GP team will be posting a ‘Did you know?’ series. We’ll give tips, tricks, and general comments around features and functions that already exist in Microsoft Dynamics GP. This week we will focus on the HITB.
Our challenge to you is…how much do you really know about Dynamics GP?
The Historical Inventory Trial Balance (HITB) report shows your inventory value as of a specific date or date range and the value of the…
Inventory Cycle Counts
The best way to maintain an accurate inventory is to continually count your inventory. That is, count part of your inventory every day, and count each item several times per year.
Dynamics GP has an easy to use process that will assist you in making cycle counts
. There are basically two steps:Create a Stock Count Schedule
(Transactions >> Inventory >> Stock Count Schedule)Complete and post a Stock Count Entry
(Transactions >> Inventory >> Stock Count Entry)
There are a variety of ways to create a Stock Count Schedule. You will want to use the “Mass Add” feature on the Stock Count Schedule screen. I’m guessing these are the three most popular ways to select items to include on…
Reseting Inventory Quantity On hand and Quantity Available in Inventory
During a normal implementation, customers using the Inventory module are faced with testing numerous transaction scenarious prior to going live with their Dynamics GP system. However, the conversion to the live company requires transfering the Inventory Master tables, including the Item Quantity Master (IV00102) table. This table hosts the Quantity On Hand and Quantity Available fields per site which can already be affected by the transactions previously tested.
In order to reset the values in these fields without any SQL…