How to be Successful with Inventory AgVantage Software User Conference 2016 Kristin Ehlen

What to Focus On Setup / Inventory Items Inventory Constants File Organization / Responsibilities Inventory Reports and Balancing

General Ledger Numbers Setup General Ledger Numbers vs Fine Line Codes Departments

General Ledger Feed General Ledger Animal Health General Ledger Hardware General Ledger Seed FLC Dog Feed Cat Feed Cattle Feed Bird Feed FLC Cattle Med Cattle Wormers Chicken Med Pet Med FLC Gloves Twine Lawn Garden Tools FLC Dekalb Corn Dekalb Soybeans Croplan Corn Croplan Soybeans Department Feed Department Animal Health Department Hardware Department Seed

Inventory Items Item Numbers and Descriptions Develop an Item Number Scheme Alpha/Number 14 Length Detailed Item Description Item Codes

Item Transfer & Quantity per Unit Inventory Items Item Transfer & Quantity per Unit Allows user to create different prices and sell the item by different unit of measure – while maintaining inventory under one item number

Transfer Qty / Inventory Qty = Qty per Unit Inventory Items Inventory Transfer Qty per Item Unit 1 LBS 1 50# Bag 50 50.0000 Ton 2000 2000.0000 0.0200 TON 40.0000 0.0005 CASE of 12 12 Qrt 0.0833 Quart 12.0000 Transfer Qty / Inventory Qty = Qty per Unit

Inventory Items UPC’s F6 to assign a UPC to a item Verifies not a duplicate UPC May assign multiple UPC’s to a item Used in Inventory Receiving, physical inventory adj, accounts payable and purchase orders. As well as counter invoicing and PCINV

Inventory Items Vendor Reorder Number Speed up receiving/accounts payable entry Can assign a separate purchase factor Use in purchase orders, receiving, accounts payable invoicing

Purchase Factor Item Balance File Inventory Items Purchase Factor Item Balance File Effects Quantity and Cost when item number is used in the entry of inventory receiving and accounts payable invoicing.

Inventory Constants File How do you value your inventory? Inventory Receiving GL Update retail at time of receiving? Price change all locations? Cost change all locations? Use UPC at Transfer Time? Use UPC at Receiving Time? Receivers Updated iCost FIFO – LIFO – AVERAGE – STANDARD Should be different than AP GL Loc 1 controls this question Y Update retail must be Y Inventory receiving and AP Yes or No

Other Setup Activate Optional Features Accounts Receivable Setup Menu Lot Tracking Lots FIFO (First in First Out) Workorders update Inventory Physical Inventory Adjustments impact DPR Workorder Transfers 2-sided

Responsibilities Inventory Receiving Accounts Payable Invoicing Internal Transfers Company Use Inventory Blends Physical Inventory Adjustments Enter Inventory receivers timely add freight if applicable Adjust Costs when pulled into AP if needed Internal Transfers – setup via counter invoicing if YES work orders Yes or No Company Use don’t forget use tax if applicable Enter Inventory Blends as product is blended Start with a good physical inventory and spot check frequently

Balance Open Inventory Received Review Inventory Reports Responsibilities Balance Open Inventory Received Review P&L Review Inventory Reports

Questions?