Entering Starting Inventory Balances
You will need to enter a starting on hand balance for Distributor Owned or Customer Owned products. There are a couple of ways to do this.
WHEN ENTERING A PRODUCT The easiest way to enter a balance is immedidately after you complete entering a new Product from the Products Browse. A window appears to get the balance. This starting balance is immediately entered into the Product History Audit Trail, but no purchase or G/L entries are posted.
However, once you have enabled G/L posting, if you enter a new inventoried or warehoused product, you must do so one in one of three ways:
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Enter a new Count into the Forms Management Transactions Browse. Use this method if you do not need to show any G/L entries, but simply need to enter the on hand balance. This would apply to FMS products you are managing which are owned by the customer and which were purchased from another distributor.
Be certain that the COUNT AT field is set to Warehouse for the product in the Product EditingWindow. This instructs Simple Accounting that the count is being taken in the warehouse so that the ON HAND field is updated. If you set this field to CUSTOMER SITE, then the ON SITE field would be updated with the count!
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Enter a Purchase Order into the Vendor Purchase Orders Browse, then show the product as received. Use this method when entering the starting balance for Inventoried products or for Warehoused products where the initial balance in your warehouse did not come from a sales order.
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Enter a Sales Order and invoice the customer. Use this method if the product is customer owned. When you invoice a customer for such a product, Simple Accounting automatically updates the on hand balance of the product for the quantity sold, but does not update your G/L purchases (since it is customer owned.) If you then need to transfer some of the quantity to the customer site, enter a release transaction into the Forms Management Transactions Browse.
