Sage Simply Accounting’s inventory management feature was designed to enable adjustments of multiple items using only one form or screen. With each item that you adjust, you need to indicate the account that will be affected. At same time, you can also move or transfer items to different warehouses. Transferring items does not take on a journal entry but just identifies the locations involved. You can obtain reports for each warehouse to check how much quantity and cost for each item.
Inventory Adjustments and Transfers
Inventory items can break, spoil, become obsolete, or be stolen. Or, you could receive additional stock, such as a free shipment. For this reason, you may need to change your inventory records to match actual quantities.
Use the Inventory Adjustments and Transfers window to record any changes to the quantity of inventory you keep in stock (in your warehouse or garage), that are not a result of a purchase or sale (such as write-offs).
You can also use this window to transfer inventory from one warehouse location to another. (Premium)
Note: If you are using FIFO inventory costing, and you are reducing the quantity of an item, you cannot adjust the Unit Cost or Amount. (Premium)
Serialized Inventory (Enterprise)
Performing inventory adjustments and transfers for items that have serial numbers is much the same as any other transaction. The basic rules for adjustments and transfers are:
- You can only adjust items out of inventory using serials numbers that have the status “Available.”
- You can only adjust items into inventory using serial numbers that are new or have been adjusted out of inventory.
- In order to transfer items between locations, the items must have the status, “Available” in the location from which they are being transferred.