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TAKIN' CARE OF BUSINESS! tm
INVENTORY
USER'S MANUAL
Version 1.0
Hooper International, Inc.
P.O. Box 50200
Colorado Springs, CO 80949
Copyright ■ 1986-1991 by Hooper International, Inc.
All rights reserved.
Takin' Care of Business is a trademark
of Hooper International, Inc.
TAKIN' CARE OF BUSINESS!
COPYRIGHT NOTICE
TAKIN' CARE OF BUSINESS is not a public domain program. It is Copyright
(c) 1986-1991 by Hooper International, Inc.
No part of this manual may be reproduced or translated, in any form or
by any means, without the prior written permission of Hooper
International, Inc.
Copyright (c) 1986-1991 Hooper International, Inc.
WARRANTY INFORMATION
Hooper International, Inc. licenses this software and manual "as is"
without warranty of any kind, either expressed or implied; including,
but not limited to, the particular purpose. Hooper International, Inc.
does not warrant that the TAKIN' CARE OF BUSINESS software will meet
your requirements, or that the operation of TAKIN' CARE OF BUSINESS will
be uninterrupted or error free. In no event will Hooper International,
Inc. be liable for incidental, consequential, indirect or other damages
including any lost profits or lost savings, arising from the use of, or
inability to use, these programs; even if Hooper International, Inc. has
been advised of the possibility of such damages, or for any claim by any
other party.
Please keep in mind, we do not accept returns or give refunds on
registered copies. We will, for a period of up to 90 days from initial
shipping date, replace defective disks for a minimal shipping and
handling charge of $7.50. Defective disks must be returned prepaid and
insured by sender. In this way, we are assured of complete customer
satisfaction. As you can see, we value your business.
Information in this manual is subject to change without notice and does
not represent a commitment on the part of Hooper International, Inc.
This product could include technical inaccuracies or typographical
errors. Changes are periodically made to the information herein. These
changes may be incorporated in new additions of this publication.
TAKIN' CARE OF BUSINESS!
TABLE OF CONTENTS
COPYRIGHT NOTICE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
WARRANTY INFORMATION . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
SECTION ONE - INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . 4
1a - The Inventory Module . . . . . . . . . . . . . . . . . . . . . . . 4
1b - Integration/Operation. . . . . . . . . . . . . . . . . . . . . . . 5
1c - Inventory Setup. . . . . . . . . . . . . . . . . . . . . . . . . . 5
SECTION TWO - INVENTORY ITEMS. . . . . . . . . . . . . . . . . . . . . . . 7
2a - What are Inventory Items?. . . . . . . . . . . . . . . . . . . . . 7
2b - Inventory Items Organization . . . . . . . . . . . . . . . . . . . 7
2c - Inventory Items Data Fields. . . . . . . . . . . . . . . . . . . . 7
2d - Getting Familiar with Inventory Items. . . . . . . . . . . . . . 9
2e - Adding/Modifying/Deleting Items. . . . . . . . . . . . . . . . . 10
2f - Setting Your Beginning Inventory . . . . . . . . . . . . . . . . 12
SECTION THREE - TRANSACTIONS . . . . . . . . . . . . . . . . . . . . . . 13
3a - Transaction Data Fields. . . . . . . . . . . . . . . . . . . . . 13
3b - Entering Transactions. . . . . . . . . . . . . . . . . . . . . . 14
3c - Entering Physical Inventory. . . . . . . . . . . . . . . . . . . 16
3d - Points To Remember . . . . . . . . . . . . . . . . . . . . . . . 17
SECTION FOUR - REPORTS . . . . . . . . . . . . . . . . . . . . . . . . . 18
4a - Explanation of Reports . . . . . . . . . . . . . . . . . . . . . 18
4b - General Instructions for Generating Reports. . . . . . . . . . . 19
4c - Inventory Journal Report . . . . . . . . . . . . . . . . . . . . 19
4d - Item Account History . . . . . . . . . . . . . . . . . . . . . . 20
4e - Inventory Schedule . . . . . . . . . . . . . . . . . . . . . . . 21
4f - Activity Report. . . . . . . . . . . . . . . . . . . . . . . . . 21
4g - On-Hand Detail Report. . . . . . . . . . . . . . . . . . . . . . 22
4h - Reorder Report . . . . . . . . . . . . . . . . . . . . . . . . . 22
4i - Price List . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
4j - Inventory Item Report. . . . . . . . . . . . . . . . . . . . . . 23
4k - Reference Number Purchases . . . . . . . . . . . . . . . . . . . 24
4l - Non-Posted Transaction Journal Report. . . . . . . . . . . . . . 24
4m - G/L Distribution Report. . . . . . . . . . . . . . . . . . . . . 25
SECTION FIVE - UTILITIES . . . . . . . . . . . . . . . . . . . . . . . . 26
5a - Sort Transactions. . . . . . . . . . . . . . . . . . . . . . . . 26
5b - End-of-period Posting. . . . . . . . . . . . . . . . . . . . . . 27
5c - Rebuild Available Units/Indexes. . . . . . . . . . . . . . . . . 28
5d - Changing Item Numbers. . . . . . . . . . . . . . . . . . . . . . 28
5e - Configuration Settings . . . . . . . . . . . . . . . . . . . . . 29
SECTION SIX - HINTS AND SUGGESTIONS. . . . . . . . . . . . . . . . . . . 30
LIST OF FIGURES. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31
APPENDIX A - SAMPLE REPORTS. . . . . . . . . . . . . . . . . . . . . . . 32
APPENDIX B - DISK FILENAMES. . . . . . . . . . . . . . . . . . . . . . . 33
INDEX. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34
TAKIN' CARE OF BUSINESS!
SECTION ONE - INTRODUCTION
1a - The Inventory Module
This module manages the goods and services that you sell. It tracks
both products (goods you sell) and services (work you perform). It
keeps track of your costs for these items and informs you of selling
volume (which items sell the best and which items sell slowly). It even
helps you manage your stocking levels with on-hand and reorder reports.
Inventory will also track your costs with FIFO, LIFO, standard, or
specific item cost methods. This module will calculate your cost of
goods sold, which is very important for proper financial management.
Benefits of using this module and tracking your inventory are:
* Instant inventory valuation.
* Quantities on-hand.
* Cash tied up in inventory.
* Tracks units sold.
* See instantly best selling items.
* Better manage stocking levels.
* Calculates Cost of Goods sold.
* Tracks multiple inventory classifications.
Your inventory is one of your most important and expensive costs in your
business. Proper management of this asset can lead to better cash flow
management and greater financial success.
This module will track the following for each inventory item:
* Units received, adjusted, sold and returned.
* Products and services.
* Taxable items.
* Units on-hand.
* FIFO, LIFO, standard and specific unit costing.
* Reorder level and quantity to order.
* Last order date.
* Vendor and product number.
Some of the great features of this module include:
* 14 digit alpha/numeric item numbers.
* Up to 3000 items.
* Unlimited number of transactions.
* Support of physical inventory.
* Three pricing levels.
* Transaction amounts up to 99 million.
* Ability to print reports from any prior period.
* History on-line and available at all times.
* Integration with General Ledger.
Reports Include:
* Inventory Journal
* Item Account History
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TAKIN' CARE OF BUSINESS!
* Inventory Schedule
* Activity Report
* On-Hand Detail Report
* Reorder Report
* Price List
* Inventory Item Report
* Reference Number Purchases
* Non-Posted Transactions Journal
* G/L Distribution Report
1b - Integration/Operation
The TAKIN' CARE OF BUSINESS Inventory module fully integrates with the
General Ledger and POS/Invoicing modules. This module's function is to
track your Inventory Asset account balances. It will generate
transactions which show all purchases, credits, sale of and return of
inventory. It tracks both cost and units. This module by itself does
not track sales dollars and income, the POS/Invoicing module performs
this function.
The following describes, from an accounting point of view, what
transactions this module performs. The four types of transactions and
their debit/credit impact are described below:
GENERAL LEDGER ACCOUNTS
DESCRIPTION TYPE DEBIT ACCOUNT CREDIT ACCOUNT
Vendor Purchase P Inventory Asset Inventory Liability
Vendor Credit Return C Inventory Liability Inventory Asset
Customer Sale S Cost of Goods Sold Inventory Asset
Customer Return R Inventory Asset Cost of Goods Sold
Typically, when goods or services are sold, there are two transactions
to be made. The first records the sale (Debit cash and credit income)
and the second reduces inventory and adjusts cost of goods sold (Debit
COGS and credit inventory). Only this second transaction is handled in
this module. The POS/Invoicing module, used in tandem with this module,
will record BOTH transactions at once. If you are not using the
POS/Invoicing module, you must also record the first transaction in
either the General Ledger or Accounts Receivable module.
1c - Inventory Setup
The following steps are to help you in setting up your new Inventory
module. They are only a guide and not intended to replace reading the
appropriate sections in this manual. It is assumed that you have
already installed TAKIN' CARE OF BUSINESS Inventory on your hard disk
and have started the program. If this is not the case, refer to the
Getting Started User's Manual before reading any further.
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TAKIN' CARE OF BUSINESS!
1. First, go to the Inventory Utility Menu. From this menu select
Configuration Settings and set up your G/L Interface Accounts. You
will need the following three General Ledger accounts: Inventory
Asset (type A), Inventory Payable (type L) and Cost of Goods Sold
(type E). These accounts are required in order to use and
interface this module. Refer to section 5e - "Configuration
Settings" for further details.
2. Next, from the Inventory Main Menu, select "Update Inventory Items"
to set up your goods and services to be inventoried. See Section
Two - "Inventory Items" for details.
3. Now you are ready to start using Inventory by adding transactions.
The first transactions to be added are "purchases" for all your
goods and services currently on-hand. These "Purchases" will then
be your starting balance amounts for your inventory system. Please
note that for services there is no quantity on-hand or beginning
balance. From the Inventory Main Menu, select "Transactions Menu".
From that menu select "Input Transactions" and begin your
transactions. See Section Three - "Transactions" for further
instructions.
4. After you have entered transactions, you can now print reports.
From the Inventory Main Menu, select "Reports Menu". See Section
Four - "Reports" for information on different reports.
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TAKIN' CARE OF BUSINESS!
SECTION TWO - INVENTORY ITEMS
Your Inventory Items are a listing of goods and services to be sold.
You can create up to 3000 items (depending on your available RAM
memory). In this section, you will learn how to add items, change
information about these items and how to delete items no longer in use.
2a - What are Inventory Items?
Simply put, Inventory Items are a listing of all goods and services your
company sells. Each of these items has a unique "Item Number". This
14-digit alphanumeric number is used whenever you are entering
transactions (purchases, sales, etc.) related to a particular item.
2b - Inventory Items Organization
When choosing your inventory "Item Number" you might use a UPC code, a
vendor stock number or your own stock number. These are alphanumeric
numbers of up to 14-digits in length. They are always sorted in
ascending order. You should take time to develop a numbering scheme
before starting. Most reports are printed in Item Number order and some
allow a range of items to be printed.
It is important to remember to always leave enough room within your
selected range for new items to be added at a later time. If you need
to reorganize your Item numbers at a later time, refer to section 5d -
"Changing Item Numbers".
2c - Inventory Items Data Fields
The following describes each of the data fields used in setting up an
inventory item:
ITEM: (Required) This can be up to a 14-character, alpha-numeric
"number" used to identify each inventory item. This number is
created by you and may be any combination of letters and numbers.
For example, ABCXYZ if alphabetic, 100000 if numeric, or ABC123 if
alpha-numeric. The Item number is also used as a sort order option
on some reports.
DESCRIPTION: (Required) This is a 30-character description of the
item.
PROD/SERV: (Required) Select whether this item is a product or service
by entering a "P" or "S" for products and services, respectively.
Products are goods you stock and sell, while services are work you
perform. Keep in mind that services do not have an inventory
value, nor units-on-hand.
TAXABLE: (Required) Enter "Y" if the item is normally a taxable item.
This field is used by POS/Invoicing and will automatically
calculate the taxable amount of the sale. You may override this
default when using POS/Invoicing.
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TAKIN' CARE OF BUSINESS!
UNIT OF MEASURE: (Optional) This field is used to enter a unit of
measure for this item. Examples of measures might be "Each",
"Doz", "Pair" and "Hour". This is the quantity to be sold for this
item. An example of items sold as a "Pair" would be shoes. This
field is only used in reports and will not affect any calculations
or cost/sales figures.
DEPARTMENT: (Optional) This field is a user-defined four-digit alpha-
numeric code used to identify items within a specific department.
UNITS On-hand: This is an information field only and does not accept
inputs. This field is updated automatically as transactions are
entered.
VALUE: This field is also for information only and does not accept
inputs. This field shows the total value of on-hand units for this
item. It is updated automatically as transactions are entered.
COST METHOD: (Required) Enter your preferred cost method in this
field. There are four cost options available.
"F" = FIFO - First In First Out costing.
"L" = LIFO - Last In First Out costing.
"S" = Standard costing. Service type items must use this
method.
"U" = Specific Unit costing.
Selecting the correct cost method is very important and can
seriously affect your inventory valuation. With standard costing
the inventory module does not change the cost of each item unless
you change it. It is similar to fixed cost. When using LIFO or
FIFO methods the cost of each item in a purchase is tracked
separately.
Specific unit costing keeps track of the cost of each specific unit
in inventory. It is very useful when selling items and tracking
their specific serial numbers. During transaction input for
purchases or sales, the "Reference" field is used to track and
identify specific units or specific item serial numbers. When you
purchase an item, you must enter each item individually and add its
specific serial number in the reference field of the transaction.
When you sell an item, you must enter the serial number for the
unit being sold. Inventory will then look up the cost for this unit
and use that cost for the sale. See Section Three - "Transactions"
for further details.
LAST COST: This field is an information only field. No inputs are
accepted in this field. This field shows the per unit cost of your
last purchase of this item.
STD COST: (Optional) If you have selected cost method "S" (Standard
costing), enter the per unit standard cost in this field. This
field is not used for other costing methods.
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TAKIN' CARE OF BUSINESS!
SELLING PRICES: (Optional) There are up to three pre-set selling
prices available which allow you to establish multiple selling
prices for each inventory item. These prices are used by the
POS/Invoicing when entering invoices. They serve no function when
using Inventory without POS/Invoicing. When using POS/Invoicing,
there is a pop-up window which can be used to select one of these
three prices. These prices can be changed at any time and print on
the Price List report.
REORDER LEVEL: (Optional) Enter the minimum stock level at which you
need to reorder more of this item. Once your on-hand level has
reached this level this item will show up on the Reorder report.
This field is not used for service type items.
REORDER QTY: (Optional) This field allows you to enter a reorder unit
amount which will show on your Reorder report. This is the
quantity which you normally reorder at one time. Entering a zero
in this field will keep this inventory item off the Reorder report,
which is useful for items you do not normally stock. This field is
not used for service type items.
LAST ORDERED: (Optinal) This field allows you to enter and track the
last time you ordered this item. Enter the date of your last
purchase. This field will show on the Reorder report. This date
will be updated each time you enter a type "P" (Purchase)
transaction. This field is not used for service type items.
VENDOR: (Optional) Enter the vendor number from whom you normally
order this item. This vendor number does not tie to the Accounts
Payable module, but we recommend that if you are using A/P you
enter the same vendor number. This field prints on the Reorder
report.
ITEM #: (Optional) Enter your vendor's reorder item number here. This
number is used for lookup convenience and will print on the reorder
report.
G/L ACCOUNTS: INVENTORY: (Required) Enter the G/L inventory account
number for this item. This field overrides the configuration
default account number. It can be used to group your inventory
items into specific asset accounts for tracking purposes. For a
pop-up chart of accounts window, press the <F2> key. The default
will be the account set up in the configuration settings.
G/L ACCOUNTS: COST OF GOODS SOLD: (Required) Enter the G/L Cost of
Goods Sold account here. This field overrides the configuration
default account number. It can be used to group your COGS into
specific expense accounts for tracking purposes. For a pop-up
chart of accounts window, press the <F2> key.
2d - Getting Familiar with Inventory Items
In order to familiarize yourself with the way inventory items are
organized, and before creating your own inventory items, follow the
steps below by using the "SAMPLE" accounts:
Page 9
TAKIN' CARE OF BUSINESS!
1. After you have started TAKIN' CARE OF BUSINESS, select the
filename "SAMPLE". Refer to your Getting Started User's Manual,
section 3b - "Selecting the Disk Drive, Path and Data File" for
details.
2. From the Inventory main menu, select "Update Inventory Items".
The following screen appears:
Figure 2-1 Item Listing
Notice how the sample Inventory Items are organized. The window will
display up to eighteen items at one time. To see more accounts, use the
cursor arrow keys, or the mouse, to scroll through the listing. To
select a item to be modified, press the <Enter> key when the cursor is
on that item or, if you know the beginning number or letter of that
item, simply type it in. The first item in that range will appear at
the bottom of the window, with the cursor automatically on that item.
For example, entering "T" will take you to the first item starting with
"T", and entering "4" will take you to the items starting with "4". If
you know the complete item number, simply enter the number and the
cursor will position itself on that specific item.
Before setting up your own Items, you may want to create a practice item
by entering data into the "SAMPLE" data files. Simply follow the steps
in section 2e - "Adding/Modifying/Deleting Items", below, for practice.
2e - Adding/Modifying/Deleting Items
This section will describe how to add, modify and delete items from
Inventory.
From the Inventory Main Menu, select "Update Inventory Items". Figure
2-1 (above) will appear. At the bottom of the screen, notice five
available functions:
<F1>Help <F3>Add <F4>Mod <F5>Del <Esc>Exit
When working on your Inventory Items, select <F3> to add an item, <F4>
to modify an item or <F5> to delete an item. Following are detailed
instructions for each of these functions.
NOTE: You may, at any time, call up the context sensitive help system
by pressing the <F1> key.
ADDING AN ITEM: Press the <F3> key. Figure 2-2, below, will appear.
Figure 2-2 Add Inventory Item
Page 10
TAKIN' CARE OF BUSINESS!
NOTE: If there are no existing items, the "ADD INVENTORY ITEM"
window will automatically appear without the need to press the
<F3> key.
After entering information in a field, press the <Enter> key to move
to the next field. To backup to a previous field, press the
<Backspace> or <Shift-Tab> key.
1. Enter your new item number at the "Item" prompt and press
<Enter>.
2. At the "Description" prompt, add the description of this item.
3. At the "Prod/Serv" prompt, enter "P" for products or "S" for
services.
4. Next, enter "Y" or "N" at the "Taxable" prompt, depending on
whether this item is taxable.
5. Enter the "Unit Measure" for this item ("Each", "Pair", etc.).
6. Enter the "Department" expense name (if any) for this item.
7. At the "Cost Method" prompt, enter "F", "L", "S" or "U" as
described above to select your costing method.
8. If you have selected "S" as your cost method, enter the standard
cost for this item at the "Std Cost" prompt.
9. Enter your "Selling Price" at the "A", "B" and "C" prompts. If
you only have one price, leave prices "B" and "C" zero.
10. At the "Reorder Level" prompt, enter the on-hand minimum
quantity at which you want to reorder this item.
11. At the "Qty" prompt, enter the quantity to be ordered on your
next reorder.
12. During this add, the "Last Ordered" date will be your computer's
date. Enter the date when this item was last ordered.
13. At the "Vendor" prompt, enter the vendor number from whom you
order this item.
14. At the "Item #" prompt, enter the vendor's product number.
15. Next, enter the G/L inventory asset account number for this item
at the "G/L ACCOUNTS: Inventory" prompt. For a pop-up chart of
accounts listing press the <F2> key.
16. Lastly, enter the G/L Cost of Goods Sold expense account number
for this item at the "Cost of Goods Sold" prompt. For a pop-up
chart of accounts listing, press the <F2> key.
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TAKIN' CARE OF BUSINESS!
Upon pressing <Enter> at this last prompt the new item will be added
to the Items list shown in figure 2-1. To add additional items just
press the <F3> key and the "Add Inventory Item" window will reappear.
When finished adding items, press the <Esc> key to return to the menu
prompt.
MODIFYING AN ITEM: From the Inventory Main Menu, select "Update Inventory
Items", then press the <F4> key. The following screen will appear:
Figure 2-3 Modifying an Item
Notice that the cursor is automatically on the "Descrip" field, but
may be moved to the field you wish to modify by pressing the <Enter>
or arrow keys. If you want to blank out a field, move to that field
and press the <Spacebar> (or "0" for numeric fields). In order to
change the item number, however, you will need to use the procedure
described in section 5d - "Changing Item Numbers". This procedure
changes item numbers, as well as moving all related transactions to
the new item number.
DELETING AN ITEM: From the Inventory Main Menu, select "Update Inventory
Items".
To delete an item, the item must have no transactions entered against
it. If transactions exist, you must wait until all units have been
sold and perform an end-of-period closing as described in section 5b -
"End-of-period Posting" before the item can be deleted.
To delete an item, move the cursor to the appropriate item in the item
listing window, using the arrow keys or mouse. Next press the <F5>
key. When you answer "Y" to the "Are you sure" prompt, the item will
be deleted.
2f - Setting Your Beginning Inventory
To set your beginning "Units on-hand" and value, you must enter a
purchase "P" type transaction which reflects your current units and
valuation for each inventory item on-hand. This procedure is for
product type items only, as services do not have a valuation or on-hand
units.
1. The first step is to do a physical count of all items on-hand.
2. The second step is to determine a cost or value for these items.
3. Third, perform the "Input Transactions" procedure as described
in section 3b - "Entering Transactions" and enter type "P"
transactions for each item on-hand. You CANNOT accomplish this
by performing the "Physical Inventory" function, as this
function is designed to REDUCE units on-hand by creating units
sold.
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TAKIN' CARE OF BUSINESS!
SECTION THREE - TRANSACTIONS
An inventory transaction is any event which changes your inventory on-
hand units or cost. There are four types of transactions: (P)urchases -
Goods purchased from a vendor which will be resold and will increase
on-hand units; (C)redits - or purchase returns to a vendor which
decrease on-hand units; (S)ales - Goods sold to your customer which
decrease on-hand units; and (R)eturns - where customers return goods
previously purchased from you.
NOTE: Transactions entered in this module adjust the inventory asset
balance and the units on-hand balances only. These transactions
DO NOT affect sales (income) or cash/receivables amounts. These
type of transactions are handled by the POS/Invoicing module.
This section describes how to enter inventory transactions, as well as
how to perform physical inventory adjustments.
3a - Transaction Data Fields
The following describes each of the data fields in transactions:
DATE: (Required) Enter the date of this transaction.
NOTE: The default date mask is set to mm-dd-yy. To change this
format, refer to the Getting Started User's Manual, section
4d - "Setting the System Configuration", "Date Mask".
TRAN TYPE: (Required) Enter the one character type code for this
transaction. Valid types are as follows:
P = Purchase of goods for sale (inventory increase).
C = Credit on return of goods to vendor (inventory decrease).
S = Sale of goods or services to customer (inventory decrease).
R = Return of goods or services by customer (inventory
increase).
NOTE: For costing purposes, type "R" transactions will be
accepted for return at the "Last Cost" amount for this
inventory item, i.e. valued at the last purchase price of
this product from vendor.
Services CANNOT be received or credited.
If you have entered an incorrect transaction, you cannot
modify or delete it. To solve this problem you can enter a
reversal transaction (i.e. to reverse a (P)urchase, enter a
(C)redit transaction).
ITEM NUM: (Required) This can be up to a 14-character, alpha-numeric
number which was previously set up in Section Two - "Inventory
Items". Each time you enter a transaction for a specific item,
simply enter the item number, or press the <F2> key for a pop-up
item number listing. If you enter an item number that does not
exist, the Inventory program will automatically prompt you with
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TAKIN' CARE OF BUSINESS!
"Invalid Item, Add Account?". Here you have the option to add a
new Item on-the-fly. Refer to section 2e -
"Adding/Modifying/Deleting Items".
DESCRIPTION: (Optional) This is a 30-character description of this
transaction. The default description will be the description of
the item number entered above.
QUANTITY: (Required) Enter the quantity for this transaction. This
number is always a positive number. For reduction in inventory,
see transaction type "C" or "R" above.
For Specific Costing enter a quantity of one in this field. Then
identify specific items by the use of the reference field described
below.
For type "C" transactions, where you are returning an entire
purchase, enter zero quantity. Then at the reference field, press
the <F2> key to select the entire purchase to be returned. After
pressing <Enter> on shipment to be returned, the quantity will
automatically be changed to the entire shipment amount.
UNIT COST: (Optional) This field is accessible only with type "P"
transactions. For all other types of transactions, this is a
calculated field. For type "P" transactions you may enter a unit
cost or a total price (see next field). The system will calculate
whichever field you leave blank.
PRICE: (Optional) Again, for type "P" transactions only, enter a unit
cost (prior field) or a total price. The system will calculate
whichever field you leave blank.
REFERENCE: (Optional) This field is designed for Specific Costing.
If you are using FIFO, LIFO or standard costing you would usually
leave this field blank. For Specific Costing, the following
applies:
Transaction types:
"P" and "R" Enter an identifying "Reference" number for this
specific item being purchased or returned (i.e.
serial number).
"S" and "C" Press the <F2> key and a pop-up Specific Costing
window will appear from which you may select the
specific unit to be sold or credited. Once
selected with cursor keys or mouse press <Enter>
and that specific unit will be selected. The
reference field will then be updated to reflect
this selection.
3b - Entering Transactions
To enter your transactions, select "Transactions Menu" from the
Inventory Main Menu. The following screen will appear:
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Figure 3-1 Inventory Transactions Menu
Then from the Inventory Transactions Menu, select "Input Transactions"
and the following screen will appear:
Figure 3-2 Add Transaction
The transaction below will simulate the purchase (and receipt of)
software:
1. DATE: Enter the date of this transaction.
2. TRAN TYPE: Enter (P)urchase, (C)redit, (S)ale or (R)eturn
transaction type code for this transaction as described above.
3. ITEM NUM: Enter the item number as described above. For a pop-
up item listing, press the <F2> key.
4. DESCRIPTION: Enter the description for this transaction.
5. QUANTITY: Enter the unit quantity for this transaction, as
described above.
6. UNIT COST: For type "P" transactions, enter either the per unit
cost or the total price (next field).
7. PRICE: For type "P" transactions, enter either the total price
or the per unit price (previous field).
8. REFERENCE: For specific costing, enter the reference or serial
number for this transaction, as described above. For type "S"
and "C" transactions, you may press the <F2> key for a pop-up
specific cost selection window.
9. At the "Inputs Correct(Y/N):" prompt, do either of the
following:
A. Press "Y" (yes) if the transaction is correct. Your
transaction is then saved to disk and the cursor will
return to the date prompt, ready for your next transaction.
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B. Press "N" (no) if the transaction is incorrect. You will
then be allowed to make necessary changes. Press <F10>
when done.
At any time, you can quit entering transactions and return to the menu
prompt by pressing <Esc>. To receive help anywhere in the program,
simply press the <F1> key.
3c - Entering Physical Inventory
This Physical Inventory feature allows those who do not use
POS/Invoicing or those who do not record their sales figures daily to
"plug in" their current on-hand inventory levels. This procedure will
then automatically create type "S" transactions described in section 3b
- "Entering Transactions", above. The result is that on-hand units are
reduced to current "physical count" levels and inventory valuation is
adjusted accordingly.
NOTE: If you are using Specific Costing for your inventory items, you
should NOT perform this function, as it allows no control over
specific units sold.
To enter your physical inventory transactions, follow the procedures
listed below:
1. From the Inventory Transactions menu, select "Physical
Inventory". The following screen will appear:
Figure 3-3 Physical Inventory
2. DATE: Enter the date of the physical inventory. For unit sold
tracking, this would usually be the month in which most of the
inventory was sold.
3. ITEM NUM: Enter the item number as described above. For a pop-
up item listing, press the <F2> key.
4. QUANTITY: The default for this field will be the quantity
currently on-hand, per the inventory system.
If your physical count is less than the quantity shown for this
item, enter the new physical count in this field. Type "S"
transactions will now be created to reduce your inventory to
this new level.
If your number is greater than the quantity shown, you probably
are missing some purchases (type "P" transactions above). Enter
these transactions, as described in the previous section, and
then return to this section to do your physical inventory
adjustments.
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5. After pressing <Enter> at the quantity field, your inventory
level for the selected item will be automatically reduced to
this new level. Your cursor will return to the date prompt for
further inputs. To return to the menu, press the <Esc> key.
3d - Points To Remember
1. There are four types of transactions and their debit/credit
impact are described below:
GENERAL LEDGER ACCOUNTS
DESCRIPTION TYPE DEBIT ACCOUNT CREDIT ACCOUNT
Vendor Purchase P Inventory Asset Inventory Liability
(Inventory Increase)
Vend Credit Return C Inventory Liability Inventory Asset
(Inventory Decrease)
Customer Sale S Cost of Goods Sold Inventory Asset
(Inventory Decrease)
Customer Return R Inventory Asset Cost of Goods Sold
(Inventory Increase)
2. Typically, when goods or services are sold, there are two
transactions to be made. The first records the sale (Debit cash
and credit income) and the second reduces inventory and adjusts
cost of goods sold (Debit COGS and credit inventory). Only this
second transaction is handled in this module. The POS/Invoicing
module, used in tandem with this module, will record BOTH
transactions at once. If you are not using the POS/Invoicing
module, you must also record the first transaction in either the
General Ledger or Accounts Receivable module.
3. For Specific Costing, always use a quantity of one and use the
"Reference" field to identify/select the specific unit for your
transaction.
4. If not using POS/Invoicing, you must enter the sales price
transaction into either Accounts Receivable or the General
Ledger.
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SECTION FOUR - REPORTS
The Inventory Reports Menu allows you to generate a full range of
financial reports from your Inventory database. Reports can be
generated to show information for a day, month, quarter or year. This
section will explain how reports can be created to help you get optimum
results from your TAKIN' CARE OF BUSINESS program.
4a - Explanation of Reports
Each of the eleven reports available from the Inventory module can be
sent to your monitor's screen for immediate viewing, to your printer for
hard copy or to a disk for later retrieval. Various parameters can be
specified to give you the specific report you want.
Each of the eleven available reports are described below. All reports
can be printed at any time and as many times as necessary. Samples of
these reports are shown in Appendix A and can be printed while using the
"SAMPLE" accounts.
Inventory Journal - This report lists all of the transactions which
took place during a specific date range. You can select any one or
all of the different types of transactions.
Item Account History - This report lists all activity posted to a
specific item. It can be printed for one item or a range of items.
Inventory Schedule - This report shows the inventory on-hand and its
value for all inventory items.
Activity Report - This report shows beginning balances, purchases,
credits, sales, returns and ending balances for each inventory
item. It can be printed for different date ranges.
On-Hand Detail Report - This report is like the Inventory Schedule
report except that it shows all on-hand inventory by purchase.
Reorder Report - This report shows all product type items which are
at or below the designated reorder level. Items with a reorder
quantity of zero will not be included on this report. This report
can be sorted in vendor order, such that each page if items printed
will be for a specific vendor. This greatly facilitates
reordering.
Price List - This report lists each item and its three price levels.
It can be printed for products, services or both.
Inventory Item Report - This report lists all the information on each
item in the Inventory Items list. It can be printed in item
number, name or vendor order.
Reference Number Purchases - This report prints a list of all
purchases entered with a specific reference number.
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Non-Posted Transaction Journal - This report lists all of the
transactions which have not yet been posted to the General Ledger
module.
G/L Distribution Report - This report lists all of the inventory
transactions entered and the General Ledger account to be posted
within a specified date range. The report provides account
numbers, account names, debit and credit amounts and a total for
the debits and credits, in account number order.
4b - General Instructions for Generating Reports
To generate any report, do the following:
1. From the Inventory Main Menu, select "Reports Menu". The
following screen appears:
Figure 4-1 Inventory Reports Menu
2. From the Reports Menu, select the report you want to generate
(e.g: Inventory Journal). This example will print the Inventory
Journal report. Other reports are covered later in this
section.
4c - Inventory Journal Report
Figure 4-2 Inventory Journal Input Screen
1. As stated earlier, you can send any of the reports to your
monitor's screen (S), to a printer (P) or to a disk drive (D)
where the report will be stored as a disk file with its own
filename.
NOTE: If you try to send a report to a printer and do not have a
printer, you will receive an error message.
The first prompt on all of the report input screens is the
destination prompt. It appears as follows:
Screen,Printer,Disk(S,P,D):
Entering an "S" for screen or a "P" for printer will send the
report to the screen or printer, respectively. If you enter a "D"
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for disk, the system will prompt you for a disk filename. You can
enter any name you wish, following the DOS naming conventions. The
report will then be saved on the default disk drive with the
filename you entered, followed by a filename extension of ".RPT".
If you enter a filename that already exists, the system will ask if
you want to delete the old file. Answering "Y" will replace the
existing report with the new report. Answering "N" will append
(add on) the new report to the already existing report.
The disk file is created in ASCII format, thereby allowing it to be
imported into a word processor, spreadsheet or database for
customized reports.
At the "Screen,Printer,Disk(S,P,D):" prompt, enter the letter for
the destination of your report. For this example, enter the letter
"S".
2. For some reports, you will need to specify a date range. The
date-prompt format will be the format specified in the System
Configuration Settings. Refer to section 4d - "Setting the
System Configuration" in the Getting Started User's Manual. The
date prompt appears as follows:
Starting Date: 05-01-90
Ending Date: 05-31-90
These dates determine the starting and ending date for the report and
are included in the heading of the report. The date range can be as
short as one day.
NOTE: The ending date can never be more than one year after the
starting date (e.g: starting date as 05-01-90 and ending date
as 04-30-91).
3. The last prompt, "Type of Transactions:" allows you to select
the transaction types you would like included in this report.
Valid types are A, P, C, S and R. These types are the same as
those used when entering transactions, with the exception of
"A". Entering "A" will select all types of transactions. After
entering the type of transaction, the report will be sent to
the screen.
The following discusses the other report selection input screens. Any
prompts already discussed will not be covered in detail.
4d - Item Account History
1. From the Inventory Reports Menu, select "Item Account History".
The following screen appears:
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Figure 4-3 Item Account History Input Screen
2. At the destination prompt, select the destination for your
report.
3. At the Date prompts, enter the date range (as described above)
for this report.
4. At the "Items on separate pages" prompt enter either:
"N" if you want to save paper and put as many items on a page as
room permits
OR
"Y" if you want each item number to print on a separate page.
5. Lastly, select an item number range for this report. Enter both
the starting and ending item numbers. The Item Account History
report, for all items within this range, will then be generated.
4e - Inventory Schedule
1. From the Inventory Reports Menu, select "Inventory Schedule".
The following screen appears:
Figure 4-4 Inventory Schedule Input Screen
2. At the destination prompt, select the destination for your
report.
4f - Activity Report
1. From the Inventory Reports Menu, select "Activity Report". The
following screen appears:
Figure 4-5 Activity Report Input Screen
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2. At the destination prompt, select the destination for your
report.
3. At the Date prompts, enter the date range (as described above)
for this report.
4. At the "Department" prompt, enter the item department you would
like included in this report. To select all departments and
items, leave this field blank.
4g - On-Hand Detail Report
1. From the Inventory Reports Menu, select "On-Hand Detail Report".
The following screen appears:
Figure 4-6 On-Hand Detail Report Input Screen
2. At the destination prompt, select the destination for your
report.
3. At the "Items on separate pages" prompt, enter either:
"N" if you want to save paper and put as many items on a page as
room permits
OR
"Y" if you want each item number to print on a separate page.
4. Lastly, select an item number range for this report. Enter both
the starting and ending item numbers. A detailed report for all
items within this range will then be generated.
4h - Reorder Report
1. From the Inventory Reports Menu, select "Reorder Report". The
following screen appears:
Figure 4-7 Reorder Report Input Screen
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2. At the destination prompt, select the destination for your
report.
3. At the "Sort Order" prompt, select "A", "N" or "V" for Account,
item Name or Vendor order respectively.
4. At the "Department" prompt, enter the item department you would
like included in this report. To select all departments and
items, leave this field blank.
4i - Price List
1. From the Inventory Reports Menu, select "Price List". The
following screen appears:
Figure 4-8 Price List Input Screen
2. At the destination prompt, select the destination for your
report.
3. At the "Sort Order" prompt, select "A", "N" or "V" for Account,
item Name or Vendor order, respectively.
4. At the "Department" prompt, enter the item department you would
like included in this report. To select all departments and
items, leave this field blank.
5. Lastly, at the "Product/Service/All" prompt enter "P", "S" or
"A" to select Product, Service or All item types. The report
will then be printed.
4j - Inventory Item Report
1. From the Inventory Reports Menu, select "Inventory Item Report".
The following screen appears:
Figure 4-9 Inventory Item Report Input Screen
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2. At the destination prompt, select the destination for your
report.
3. At the "Sort Order" prompt, select "A", "N" or "V" for Account,
item Name or Vendor order respectively.
4. Lastly, at the "Product/Service/All" prompt enter "P", "S" or
"A" to select Product, Service or All item types. The report
will then be printed.
4k - Reference Number Purchases
1. From the Inventory Reports Menu, select "Reference Number
Purchases". The following screen appears:
Figure 4-10 Reference Number Purchases Input Screen
2. At the destination prompt, select the destination for your
report.
3. At the "Reference Num" prompt, enter the specific reference
number the report is for. The report will then be printed.
4l - Non-Posted Transaction Journal Report
1. From the Inventory Reports Menu, select "Non-Posted Transaction
Journal". The following screen appears:
Figure 4-11 Non-Posted Transaction Journal Input Screen
2. At the destination prompt, select the destination for your
report.
3. The last prompt, "Type of Transactions:" allows you to select
the transaction types you would like included in this report.
Valid types are A, P, C, S and R. These types are the same as
those used when entering transactions, with the exception of
"A". Entering "A" will select all types of transactions. After
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entering the type of transaction, the report will be sent to the
screen.
4m - G/L Distribution Report
1. From the Inventory Reports Menu, select "G/L Distribution
Report". The following screen appears:
Figure 4-12 G/L Distribution Report Input Screen
2. At the destination prompt, select the destination for your
report.
3. At the Date prompts, enter the date range (as described above)
for this report. The report will then be printed.
In conclusion, if you are unfamiliar with any of these reports, try
printing reports using the "SAMPLE" accounts, as well as referencing
Appendix A for samples of these reports. Doing so will give you an idea
of how the reports look and how they might be used.
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SECTION FIVE - UTILITIES
The Inventory Utility Menu contains five important menu items, each of
which are covered in detail below. To access the Inventory Utility
Menu, select "Inventory Utility Menu" from the Inventory Main Menu. The
following Menu will appear:
Figure 5-1 Inventory Utility Menu
5a - Sort Transactions
TAKIN' CARE OF BUSINESS stores your transactions in the order in which
they are entered. This Sort Transactions function allows the user to
choose the manner in which transactions are sorted. You can sort as
often or as little as you want, as the sort order does not affect the
operation of TAKIN' CARE OF BUSINESS. When printing some reports, the
sort transactions is automatically performed.
To sort your transactions, do the following:
1. From the Inventory Utilities Menu, select "Sort Transactions".
The following menu appears:
Figure 5-2 Sort Transactions
2. From the "Select Sort Order" menu, select one of the three sort
options, as shown above. Your transactions will then be sorted
automatically.
If you have more transactions than the memory can hold, the default
disk drive will be used to store a temporary file while sorting
transactions. It is important to remember that the default disk drive
must have adequate free disk space. If there is not, the sort will
be aborted and the transaction file will remain unchanged.
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5b - End-of-period Posting
The end-of-period posting is performed only at the end of an accounting
cycle (usually at the end of the year). This process will close out all
of the Inventory transactions.
All transactions are read (through date selected), and all old
transactions removed. This process is automatic and all on-hand items
will remain and carry forward into the new year.
The best time to actually run the end-of-period posting is on January 1
or on the first day of the new accounting period. This procedure should
be run only after you are sure that there are no more transactions to be
posted in the old accounting period and after you have made a usable
backup copy of your data files.
Note: It is very important to make a backup copy of your data files
before you run the end-of-period posting. If you need to get a
listing of your last accounting period's transactions, your
backup data disk is your only way to recreate the last
accounting period. Furthermore, once you have run this process,
you cannot generate reports for the time period covered by the
end-of-period posting. Please refer to section 4g - "Backing Up
Data Files" in the Getting Started User's Manual for
instructions on how to back up your data files.
The only requirement for running an end-of-period posting is if you are
running out of disk space. You can keep your transaction files active
for as long as you want, provided you have enough disk space.
To run the end-of-year posting, select "End-of-period Posting" from the
Inventory Utility Menu.
1. The first screen that appears contains several notices and
warnings regarding the end-of-period posting process. TAKE HEED
OF ALL NOTICES AND WARNINGS ON THIS SCREEN! Press any key to
continue.
2. Again, be sure you have made a backup data disk.
3. A small window in the middle of the screen says "Do you want to
continue:". If you answer "N", you will be returned to the
Inventory Utilities Menu. If you answer "Y", you will be
prompted for a post through date as shown below:
Figure 5-3 End-of-Year Posting
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4. At this prompt, enter the ending date of the posting period.
For example, if you want to post through the end of the 1991
calendar year, you would enter 12-31-91.
To keep the entire last year on-line for historical "look-ups", we
recommend that you only post transactions which are two years old
(e.g: on 01-01-92, enter a post through date of 12-31-90).
5c - Rebuild Available Units/Indexes
This function rebuilds cost records and available units. Its main
purpose and benefit is to reconstruct on-hand units when item numbers
are changed, see section 5d - "Changing Item Numbers" and after End-of-
period Postings (in both cases this function is automatic). There is
one time where using this function manually is useful. For costing
methods (FIFO and LIFO), item purchases are stored in input order. This
procedure will resort purchases and put them in transaction date order.
For example, if you enter purchase (type "P") transactions out of date
order, and you want items to be in date order for FIFO AND LIFO costing;
you MUST run this procedure BEFORE you sell any units. For specific
unit and standard costing methods, this function provides no useful
purpose.
5d - Changing Item Numbers
This powerful utility allows you to change the item numbers for every
existing transaction for a specific item. It can be thought of as a
"global change" feature. For example, if you want to change the item
number "1234" to "ABC1234"; you would run this utility to change all
references to the old item number to the new item number.
NOTE: Since this is an advanced feature, we do not recommend its use
by those new to TAKIN' CARE OF BUSINESS. It is very important
to make a complete backup copy of your data files prior to
running this utility. Should something go wrong (e.g: power
failure), it will be easier to recover if you have an original
copy of the data files. Please refer to section 4g - "Backing
Up Data Files" in the Getting Started User's Manual.
To change an item number, do the following:
1. From the Inventory Utility Menu, select "Change Item Number".
The following screen appears:
Figure 5-4 Change Item Numbers
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2. At the "Old Item:" prompt, enter the item number you wish to
change or delete, then press <Enter>.
3. At the "New Item:" prompt, enter the new item number and press
<Enter>. Once all transactions are transferred from your old
item to your new item, the cursor will return to the Inventory
Utility Menu.
NOTE: At either of the above two prompts, you can press <F2> for a
pop-up item number list.
5e - Configuration Settings
These configuration settings define the interface with the Inventory and
the General Ledger modules. Three interface G/L accounts are required,
Inventory (asset), Inventory Payable (liability) and Cost of Goods Sold
(expense).
To set up the configuration settings select "Configuration Settings"
from the Inventory Utility Menu. The following screen will appear:
Figure 5-5 Configuration Settings
1. At the "Inventory Asset" prompt, enter the G/L account number
for your inventory asset account. For a pop-up chart of
accounts listing, press the <F2> key.
2. At the "Inventory Payable" prompt, enter the G/L account number
for your inventory payable account. This account is a liability
account which is used to record a liability to your vendor for
purchases. When you either enter the vendor invoice in A/P or
pay the vendor with a G/L transaction you should debit this
account to remove this liability. For a pop-up chart of
accounts listing, press the <F2> key.
3. Lastly, at the "Cost of Goods Sold" prompt, enter the G/L
account number for your cost of goods sold expense account. For
a pop-up chart of accounts listing, press the <F2> key.
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SECTION SIX - HINTS AND SUGGESTIONS
* Using this Inventory module with POS/Invoicing allows you not only to
track your inventory, but keep it current every day. It also saves
time in that the POS/Invoicing module fully integrates with Inventory,
Accounts Receivable and General Ledger.
* Keep a current backup copy of your data files each time you update
your data. This will safeguard against loss of data due to a power
failure or other problem.
* Use the Shift-Print Screen keys to make a hard copy of your current
screen display.
* To pause the printer while printing reports, press any key.
* You may at any time switch costing methods by updating the Inventory
Item information as described in section 2e -
"Adding/Modifying/Deleting Items".
* When using specific unit costing, it is important to record the item's
serial number (or other identifying number) in the reference field.
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LIST OF FIGURES
Figure 2-1 Item Listing. . . . . . . . . . . . . . . . . . . . . . . . 10
Figure 2-2 Add Inventory Item. . . . . . . . . . . . . . . . . . . . . 10
Figure 2-3 Modifying an Item . . . . . . . . . . . . . . . . . . . . . 12
Figure 3-1 Inventory Transactions Menu . . . . . . . . . . . . . . . . 15
Figure 3-2 Add Transaction . . . . . . . . . . . . . . . . . . . . . . 15
Figure 3-3 Physical Inventory. . . . . . . . . . . . . . . . . . . . . 16
Figure 4-1 Inventory Reports Menu . . . . . . . . . . . . . . . . . . 19
Figure 4-2 Inventory Journal Input Screen . . . . . . . . . . . . . . 19
Figure 4-3 Item Account History Input Screen . . . . . . . . . . . . . 21
Figure 4-4 Inventory Schedule Input Screen . . . . . . . . . . . . . . 21
Figure 4-5 Activity Report Input Screen. . . . . . . . . . . . . . . . 21
Figure 4-6 On-Hand Detail Report Input Screen. . . . . . . . . . . . . 22
Figure 4-7 Reorder Report Input Screen . . . . . . . . . . . . . . . . 22
Figure 4-8 Price List Input Screen . . . . . . . . . . . . . . . . . . 23
Figure 4-9 Inventory Item Report Input Screen. . . . . . . . . . . . . 23
Figure 4-10 Reference Number Purchases Input Screen. . . . . . . . . . 24
Figure 4-11 Non-Posted Transaction Journal Input Screen. . . . . . . . 24
Figure 4-12 G/L Distribution Report Input Screen . . . . . . . . . . . 25
Figure 5-1 Inventory Utility Menu. . . . . . . . . . . . . . . . . . . 26
Figure 5-2 Sort Transactions. . . . . . . . . . . . . . . . . . . . . 26
Figure 5-3 End-of-Year Posting. . . . . . . . . . . . . . . . . . . . 27
Figure 5-4 Change Item Numbers. . . . . . . . . . . . . . . . . . . . 28
Figure 5-5 Configuration Settings . . . . . . . . . . . . . . . . . . 29
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APPENDIX A - SAMPLE REPORTS
SAMPLE REPORTS NOT INCLUDED ON DISK MANUAL
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APPENDIX B - DISK FILENAMES
TAKIN' CARE OF BUSINESS Inventory Program Disk
Filename Description
IN.EXE Inventory Program file
IN.OVR Inventory Overlay file
IN.HLP Inventory Help file
Datafile Names
*.INA Inventory Items
*.INT Inventory Transactions
*.INC Inventory Cost File
*.INF Inventory Configuration
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INDEX
INDEX IS NOT INCLUDED ON DISK VERSION OF MANUAL
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