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Inventory Center Codes and Adjustment Codes

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Anna View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Anna Quote  Post ReplyReply Direct Link To This Post Topic: Inventory Center Codes and Adjustment Codes
    Posted: 19 Jan 2012 at 9:57pm
Could someone please explain or gives examples of the following: Inventory Center Codes, Positive adjustment code, and negative adjustment codes... Please forgive my ignorance in advance :)
 
Anna
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BillD View Drop Down
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Post Options Post Options   Thanks (1) Thanks(1)   Quote BillD Quote  Post ReplyReply Direct Link To This Post Posted: 20 Jan 2012 at 10:34am

Hi Anna,

Inventory Center Codes or cost centers used in accounting. In a way, it is an account or program to post expenses or income. You can use it as a second category.

 

Positive adjustment code is needed when you adjust your inventory up. Let us say you found a unit in your storage, which is not in your inventory system. You can create an adjustment code Found in Storage and post all your finds against it. You can create as many codes (or reasons) as you wish. To quickly add an reason, double-click the Adj Code list when you see it on the receiving screen. Other examples of codes could be Physical 20120120 (for today’s physical inventory) and Customer Return.

 

The negative adjustment code is the same as positive but used for negative adjustments:  Physical 20120120, Water Damage, Lost in Storage.

 

You can treat the codes as positive/negative transaction types. They will allow you to run a report later and quickly find out how much inventory has been lost due to the water damage, for instance.

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Anna View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Anna Quote  Post ReplyReply Direct Link To This Post Posted: 20 Jan 2012 at 4:02pm
Thank You BillD! That helped explain it all!
Anna
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