With proper setup and use, the system will allow for accumulating and cost averaging certain inventory items such as padding, thinset, glue, etc.If you use a Factor ID of 02 or 08, the system will allow you to group inventory receipts together. During the Receive Inventory process, an item with an 02 Factor will default to a Roll # of “02” which you will need to accept for this to work. During this process, if the dye lot you enter in Receive Inventory matches an existing dye lot under that style with a matching “02” Roll #, the system will prompt you to add the inventory to the existing record. For the 08 Factor, which can be used for items such as pad, it will prompt a Roll # of “08” and a dye lot of “08” so all you have to do is hit enter through those prompts when receiving. The next time you order the same material, it will add the new inventory with the “08” Roll # and the “08” dye lot to the existing inventory record, eliminating a long list of partial inventory records-you will only have one record with the total inventory amount.
Important Note: When you use this feature, the value of the new inventory record will be averaged so that if a previous receipt was less expensive than a current receipt, the two will average together to create a new valuation for job costing purposes. When inventory is merged, the PO # from the last item merged will appear in the Inventory Maintenance screen. Also, when using the Review P.O. History feature in A/P, the last Invoice approved will generate the Invoice # for that inventory record. If you need to find the actual Invoice # for a PO you can look that up in P.O. History Inquiry, and the PO Number can be found through the Job Line Review feature. If cost or freight is changed during the Review P.O. History process, those changes will be averaged into the new value of the inventory. For items with a Factor ID of 02, the inventory records will only be combined where the dye lots match. This would include items such as ceramic, VCT, hardwood, etc. The 08 Factor should be used for items such as laminate, adhesive, metal, tack strip, supplies, etc. If you are ordering items with a factor of 08 for larger Jobs where you are receiving special pricing for just that Job, you should change the Roll & Dye lot numbers when the inventory is received so that the special pricing goes to that Job and the value is not averaged in with existing inventory.
The system will allow anyone with access to this module to enter into the Factor ID field for Product Codes with an 02, 07, or 08 existing Factor ID and will permit changes, but only if the change is to a Factor ID of 02, 07, or 08. For example, if you need to change an 07 Factor ID to an 08, the system will permit this, but it would not allow changing to roll goods, special charges or labor Factor IDs.
Important Note: When you use this feature, the value of the new inventory record will be averaged so that if a previous receipt was less expensive than a current receipt, the two will average together to create a new valuation for job costing purposes. When inventory is merged, the PO # from the last item merged will appear in the Inventory Maintenance screen. Also, when using the Review P.O. History feature in A/P, the last Invoice approved will generate the Invoice # for that inventory record. If you need to find the actual Invoice # for a PO you can look that up in P.O. History Inquiry, and the PO Number can be found through the Job Line Review feature. If cost or freight is changed during the Review P.O. History process, those changes will be averaged into the new value of the inventory. For items with a Factor ID of 02, the inventory records will only be combined where the dye lots match. This would include items such as ceramic, VCT, hardwood, etc. The 08 Factor should be used for items such as laminate, adhesive, metal, tack strip, supplies, etc. If you are ordering items with a factor of 08 for larger Jobs where you are receiving special pricing for just that Job, you should change the Roll & Dye lot numbers when the inventory is received so that the special pricing goes to that Job and the value is not averaged in with existing inventory.
The system will allow anyone with access to this module to enter into the Factor ID field for Product Codes with an 02, 07, or 08 existing Factor ID and will permit changes, but only if the change is to a Factor ID of 02, 07, or 08. For example, if you need to change an 07 Factor ID to an 08, the system will permit this, but it would not allow changing to roll goods, special charges or labor Factor IDs.