Parts - Adjustment |
The Stock Adjustment tab enables you to make manual adjustments to parts inventory data. You can change the current stock level or the value of current stock for any part number/location combination. Although you cannot change the current issue price to a specific value, the current issue price is recalculated whenever you adjust the unit price or dollar value.
You can use the Data -> Parts Activity -> Inventory Counts screen to automatically update current stock levels to the latest inventory counts recorded on that screen. Retention information for functional areas is specified on the Retention Levels tab of the System Mgmt -> Setup -> Table Management screen.
Tip: You can use the filter to restrict the information that displays to a specific part ID, part suffix, location ID, adjustment ID, or adjustment reason code, among others.
The Adjustments screen supports location-level access control, so you must belong to a user group with the applicable authorizations to make changes or updates.
The fields in the top section of the Stock Adjustment tab define the data that displays.
Location ID
Identifier of the location at which the adjustment is to be made. The location must be a parts location, and you must be authorized to process parts inventory transactions at it. This field has a list box limited to parts inventory locations. The location description displays to right of the ID.
Locations are associated with site types on the Functions tab of the Data -> Setup -> Organization Structure -> Locations -> Primary Information screen.
Part ID
Identifier of the part for which to make the inventory adjustment. The ID is associated with the part suffix. This field has a list box limited to parts stocked at the location from which you are issuing or for which you are ordering. The part description displays to the right of the ID.
If you enter a valid cross-reference entry for the part ID/suffix, it is automatically converted to the appropriate part ID/suffix. If more than one valid part ID/suffix is associated with the cross-reference part ID, a list of valid part ID/suffixes displays from which to choose.
Part IDs and suffixes are defined on the Basic Info tab of the Data -> Parts Items -> Primary Information screen. Part cross-references are defined on the Data -> Parts Items -> Cross-references screen.
Part suffix
Number associated with the part in the Part ID field, which distinguishes it from other parts with the same part ID. This identification applies only if the part ID is a valid system part ID.
Adjustment ID
Numeric identifier of the adjustment. Automatically assigned. This field is display only.
Manufacturer part number
Part number assigned by the manufacturer. If parts are tracked BY LOCATION, CENTRALLY, or ENTERPRISE, this field auto-populates when a part ID and suffix are entered. This field is display only.
Note: If there is a check in the Allow update of manufacturer data on Parts - Primary Information screen if not managing ordering and EOQ values CENTRALLY field on the General tab of the Data -> Parts Items -> Setup -> Options screen, data displays from the parts primary record. If that field is blank, data displays from the parts location record.
Manufacturer name
Name of the part manufacturer. If parts are tracked BY LOCATION, CENTRALLY, or ENTERPRISE, this field auto-populates when a part ID and suffix are entered. This field is display only.
Note: If there is a check in the Allow update of manufacturer data on Parts - Primary Information screen if not managing ordering and EOQ values CENTRALLY field on the General tab of the Data -> Parts Items -> Setup -> Options screen, data displays from the parts primary record. If that field is blank, data displays from the parts location record.
Data in the fields in the bottom section of the tab specify the adjustment and enable you to associate it with an account ID.
Action
Type of adjustment to inventory. This field has a list box:
ADD: Upward adjustment.
SUBTRACT: Downward adjustment.
CHANGE: Changes the amount of the location ID value on hand for the part by multiplying the new unit price by the quantity on hand at the location. The Adjustment type field must indicate UNIT PRICE ONLY. The part’s value on hand and quantity on hand at the location ID are specified on the Basic Info tab of the Data -> Parts Items -> Location Information screen.
Tip: If your inventory pricing method is AVERAGE, you can set the current quantity on hand and current issue price using the action CHANGE and the adjustment type QTY AT A DIFFERENT PRICE.
If your inventory pricing method is either FIFO or LIFO, you can adjust the current unit price of the current lot. Specify CHANGE as the action and UNIT PRICE ONLY as the adjustment type. The inventory pricing method is specified on the General tab of the Data -> Parts Items -> Setup -> Options screen.
Adjustment type
Type of adjustment. This field has a list box.
Note: If the Inventory pricing method field on the General tab of the Data -> Parts Items -> Setup -> Options screen specifies either FIFO or LIFO, this field must be set to either QUANTITY ONLY or UNIT PRICE ONLY.
QUANTITY ONLY: Adjusts only the quantity of the part on hand. The quantity in the Quantity field is either added to or subtracted from the quantity on hand at the location in the Location ID field. The current issue price is used to recalculate the value on hand. The issue price does not change.
VALUE ONLY: Adjusts only the value on hand. The value in the Value field is either added to or subtracted from the value on hand at the location in the Location ID field. It uses the old quantity on hand and the new value on hand to recalculate the current issue price. It does not change the quantity on hand.
QTY AT A DIFFERENT PRICE: Adjusts quantity on hand by using a different unit price. The quantity in the Quantity field is either added to or subtracted from the quantity on hand at the location in the Location ID field. In addition, the product of the quantity multiplied by the unit price is either added to or subtracted from the value on hand at the location. The new quantity on hand and new value on hand are used to recalculate the current issue price.
UNIT PRICE ONLY: Adjusts only the amount in the Unit price field.
Note: You may only adjust unit price if the part has zero quantity on hand.
QUANTITY RECONCILED: When selected in conjunction with a CHANGE adjustment to inventory, displays the current unreconciled entries for this part's transactions on the To Be Reconciled tab. You can change the reconciled quantity for specific transactions.
Note: If you select this option, the Quantity, Unit price, and Value fields are locked.
Quantity
Number of issue units by which you want to change the current stock level. You may enter a quantity of zero.
If there is a check in the Message when inventory of a STOCKED part drops below its reorder point field on the Messaging tab of the Data -> Parts Items -> Setup -> Options screen, a message displays if issuing this quantity would drop the current stock level below the part’s reorder point. The reorder point is set in the Reorder point field on the EOQ tab of the Data -> Parts Items -> Primary Information screen.
Note: When you process an automatic adjustment to inventory counts from the Data-> Parts Activity -> Inventory Counts screen, the Quantity field updates automatically.
Tip: A snapshot of the before and after quantity on hand for the part being adjusted is recorded. This functionality enables tracing the specific amounts adjusted in all cases and combinations of action and adjustment type. Snapshots of end-of-month values on hand for each part (QTY_PARTS_INV_EOM) are stored in PTS_COUNT or PLO_COUNT. Snapshots of before and after values for a part being adjusted (BEFORE_QTY_ON_HAND, AFTER_QTY_ON_HAND) are stored in ADJ_MAIN.
Unit price
Unit price used to calculate the value of the quantity that it adds or subtracts from inventory. You may enter a unit price of zero.. This field supports up to four decimal places. You may adjust the unit price only if the part has zero quantity on hand.
Tip: A snapshot of the before and after unit price for the part being adjusted is recorded. This functionality enables tracing the specific amounts adjusted in all cases and combinations of action and adjustment type. Snapshots of end-of-month values on hand for each part are stored in PTS_COUNT or PLO_COUNT. Snapshots of before and after values for a part being adjusted (BEFORE_UNIT_PRICE, AFTER_UNIT_PRICE) are stored in ADJ_MAIN.
Value
Amount by which to change the current value on hand.
Tip: A snapshot of the before and after value on hand for the part being adjusted is recorded. This functionality enables tracing the specific amounts adjusted in all cases and combinations of action and adjustment type. Snapshots of end-of-month values on hand for each part (VALUE_PARTS_INV_EOM) are stored in PTS_COUNT or PLO_COUNT. Snapshots of before and after values for a part being adjusted (BEFORE_VALUE_ON_HAND, AFTER_VALUE_ON_HAND) are stored in ADJ_MAIN.
Current values
Current amounts associated with the Quantity, Unit price, and Value fields prior to the adjustment. This field is display only.
Unit of issue
Description of the unit of issue. This field is display only.
Bin ID
Identifier of the bin where the part is stored. This field has a list box. This field is optional.
Lot number
Identifier of the lot. This field has a list box of all lots for the part and suffix at the location. The list also includes the receipt date and unit price. If lot information is associated with the specified part ID and suffix, the software overwrites the existing values in the Quantity, Unit price, and Value fields. If the part is not tracked by lot number, leave this field blank.
Reason code
Code that describes the reason for the adjustment. When you use this reason code on a part adjustment transaction, the account ID defaults automatically. This field has a list box. This field is optional.
If the adjustment was made automatically from the Data -> Parts Activity -> Inventory Counts screen and there is a value in the Inventory adjustment reason code for automatic adjustments field on the General tab of the Data -> Parts Items -> Setup -> Options screen, that code displays in this field. You can use this code with the Query/Report Generator screen. You can also use Web Modules Reporting or any other reporting tool sold separately (such as Microsoft Access). Refer to the related documentation for these products.
Account ID
Identifier of the account associated with the part adjustment. Tracking the account ID on an adjustment can assist you in reconciling those transactions with your organization’s general ledger. This field has a list box. Optional.
Comments
Free-format area. Maximum field length is 60 characters. This field is optional.