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Presentation from LBSi SAP Business One User Group December 2012. Inventory Management in SAP Business One. Learn how to setup inventory and perform cycle counts.
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Long Business Systems, Inc. (LBSi)
Management Software Solutions
We help businesses manage for success
Cleveland – Columbus – Cincinnati - Pittsburgh
Inventory ManagementPresented by: Vicki Smith
A general overview of the Inventory Master Data screens, Inventory Transactions and Reports
Agenda:
� General System Settings for Inventory
� Inventory Valuation Methods
� Cycle counts
� Physical Inventory
� Inventory Reports
G/L Account Determinations
� System settings defined will determine how inventory transactions will
affect the G/L accounts.
� Company Details
� General Settings
� Item Groups
� Warehouses
Inventory Valuation Methods
Three (3) valuation methods for calculating inventory value:
� Moving Average – Calculates the average cost for the item in each sales,
purchasing, inventory, and production transaction
� Standard – Calculates the inventory value by a fixed price which is used
for all transactions
� FIFO – Calculates the inventory value by First in – First Out method.
� Goods purchased first (or produced) are sold first
� Each inventory receipt transaction creates a stack of quantities linked to costs.
� Each inventory release transactions uses the quantities and costs from the top stack first
�Note: You can do the following:
� Manage all 3 methods in the same company
� Select a specific valuation method for each item
Preparation for Inventory/Cycle Counts
Make sure the warehouse is clean and organized!!!
� All inventory is in its designated stock location
� All shipments are processed
� All PO Goods Receipts are processed
� All production orders are transacted to date
� All RMA items are separated from the regular inventory into a
designated HOLD area.
� Make all necessary inventory adjustments to production orders or
inventory.
� Run the Inventory Valuation Simulation Report
� Stop all inventory transactions
� Perform copy of live database to demo prior to starting count
Defining Inventory Cycles
� Inventory Cycle Setups
� Go to: Administration > Setup > Inventory > Inventory Cycles
� Define for an Item Group
� Go to: Administration > Setup > Inventory > Item Groups
Linking Inventory Cycles to Items
� Manually link to items in a warehouses at warehouse row level
� Make sure cycle count fields are displayed in warehouse row
� Update Cycle Code and Next Count Date in Item Warehouse row
Initiate Cycle Count Recommendations
� Go To: Inventory > Inventory Transactions > Cycle Count
Recommendations
� Select cycle code and warehouse(s)
Note: If you have selected alerts when defining cycles, you will receive an
alert on the day the count should be initiated.
Generate Inventory Tracking Window
� Go to: Inventory > Inventory Transactions > Inventory Opening
Balances, Inventory Tracking, and Inventory Posting > Inventory
Tracking tab
� Update selection criteria as needed
� Click OK
�Tip: You can use Item Properties to get a specific selection
Generate Counts Sheets
� Displays items that are ready to count
� Note: unclick the Hide Quantity Stored box to see the on hand balances
� Print the Stocktaking Count Sheet and issue to warehouse for count
Record Counts
� Enter the counts in the Inventory Tracking screen
� As counts are entered, the counted box is automatically checked
� Zero counts show as blank – manually check the counted check box
� To compare count to on hand balance – uncheck the Hide Quantity
Stored box
� Click on the Update button when done entering counts
� Click on the “Set to Counted” in the Cycle Count Recommendations
window
Inventory Posting window
�Go To: Inventory Posting tab to review count variances
� Update selection criteria as shown below
� Be careful!! Price Source is important.
Review Counts & Variances� Review, print then post the cycle count
�Research items with variances and modify counts as required
�Note: counts are modified in the Inventory Tracking tab
�Update G/L account number, posting date and comments on screen
�Print the Inventory Posting report before posting
Inventory Reports
Various reports display cost, track, and reconcile inventory transactions.
� Inventory Audit report
� only report that reconciles to the Balance Sheet
� Last Prices Report
� shows price history for various system transactions
� Item List Report
� Overview of all items with price lists and quantity in stock
� Inventory Status report
� Overview of current stock including planned receipts and withdrawals. (Hot List).
� Inventory Posting List Report
� Details of all transaction postings in the system displayed by date and inventory balance at that date
� Inventory in Warehouse Report
� Shows current stock status, planned receipts and withdrawals, last receipt & issue date (slow movers)
Thank you for taking time to participate in the SAP Business One User Group Meeting.
Please take a few minutes to respond to our survey and provide us with feedback and suggestions going forward.
o We are always looking for new clients to work with. And we would like
to find more clients and partners like you – companies that are
engaged, smart, and focused on their future.
o Can you help us out by referring LBSi to someone who could benefit
from our services?
Next Meetings:
o Tuesday, Jan. 17, 2012
o 1099 Reporting
o Tuesday, Feb. 14, 2012
o TBA – Give us your ideas
Long Business Systems, Inc. (LBSi)
Cleveland – Columbus – Cincinnati – Pittsburgh
Contact Information:
Vicki Smith
Senior Consultant
email: [email protected]
Phone: 440-846-8500 ext 22
www.lbsi.com