How to: Cost Roll Inventory Step 1

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From Inventory

Go to File, Receiving/Costing

Receiving / Costing
From the Inventory module, select Receiving / Costing.

Use the following steps to add existing inventory.

Receive from Invoice
Receiving from invoice will update both the inventory detail and the General Ledger. However, in this process we will abort the General Ledger update portion. The General Ledger portion will be updated from the original beginning balance entry.

Supplier
Select the supplier by clicking the F8 button. For initial entry of items where the supplier is unknown, it is suggested you use the company name.

Invoice Number
For initial entry, you may use the original invoice date if available, otherwise it is suggested you use the current date as the invoice number.

Invoice Date
If the original invoice date is known, using it here will allow various inventory reports to be generated using this date as a parameter.

Discount Rate
Discount rate is the allowed vendor discount if paid within terms.

Freight Amount
This freight amount will be amortized over the material on this invoice.

Distribution of Freight
Freight may be distributed on this particular invoice using the following methods for both rolls or items.

Add Receiver Line
Once the initial invoice information has been added, clicking the Add function will begin the process of creating the individual inventory records.

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