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

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

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

4. 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

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

6. 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

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

8. 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

9. 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

10. 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.

11. 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

12. 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

13. 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

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

15. Questions?