Editing Inventory Quantity Reconciliation
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*NOTE* If you are tracking inventory quantities in QuickBooks, any adjustments made to SME inventory using reconciliation will also need to be made in QuickBooks inventory. Only invoices from SME automatically deplete inventory in QuickBooks. Only POs or Bills from SME automatically increase inventory in QuickBooks. | *NOTE* If you are tracking inventory quantities in QuickBooks, any adjustments made to SME inventory using reconciliation will also need to be made in QuickBooks inventory. Only invoices from SME automatically deplete inventory in QuickBooks. Only POs or Bills from SME automatically increase inventory in QuickBooks. | ||
− | + | == New Inventory Reconcile in SME 8.1 and Beyond == | |
== Features and Benefits of New Inventory Reconcile == | == Features and Benefits of New Inventory Reconcile == | ||
* Easier operation for reconciling inventory | * Easier operation for reconciling inventory | ||
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** This warehouse should NOT be used for inventory reporting | ** This warehouse should NOT be used for inventory reporting | ||
** This warehouse SHOULD be used for reporting of adjustments or scrap of inventory | ** This warehouse SHOULD be used for reporting of adjustments or scrap of inventory | ||
− | ** Over time your business may adjust parts both positive and negative. This warehouse will get added stock counts when you decrease regular stock warehouse and | + | ** Over time your business may adjust parts both positive and negative. This warehouse will get added stock counts when you decrease regular stock warehouse and decrease if the parts are found again. |
− | ** If parts are found again, inventory reconciliation can be used to move | + | ** If parts are found again, inventory reconciliation can be used to move back into a warehouse. |
** You do not have to worry about inventory stock "disappearing" from inventory tracking and reconciliation since all inventory is tracked in and out. | ** You do not have to worry about inventory stock "disappearing" from inventory tracking and reconciliation since all inventory is tracked in and out. | ||
** This warehouse is forced as inactive so that it's not used in standard inventory reports | ** This warehouse is forced as inactive so that it's not used in standard inventory reports | ||
** Note: If you have a custom inventory report it will need to be updated to NOT count this virtual warehouse. | ** Note: If you have a custom inventory report it will need to be updated to NOT count this virtual warehouse. | ||
* Batching | * Batching | ||
− | ** Batches will allow inventory to be | + | ** Batches will allow inventory to be snapshoted for adjustments over multiple days. You can create a batch, make adjustments and then come back later and continue to make adjustments for that batch. |
*** For example, you may want to run a quarterly inventory reconcile with the following process: | *** For example, you may want to run a quarterly inventory reconcile with the following process: | ||
− | + | *** Create a new Batch | |
− | *** Create a new Batch | + | *** adjust physical counts on day 1 and click Reconcile Batch but select not to close the batch |
− | *** | + | *** Do additional physical count adjustments on the next day and then close the batch. |
− | *** Do additional physical count adjustments on the | ||
== Inventory Reconciliation version 8.1 Operation == | == Inventory Reconciliation version 8.1 Operation == | ||
− | # Select Utilities>Inventory>Inventory Reconciliation and click Run It | + | # Select Utilities>Utilities>Inventory>Inventory Reconciliation and click Run It |
# [[File:Reconcile1.png]] | # [[File:Reconcile1.png]] | ||
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# Batch: Select New for a new batch or if you already created a batch you want to continue then select that batch. | # Batch: Select New for a new batch or if you already created a batch you want to continue then select that batch. | ||
## Select New>All Inclusive to adjust all warehouses. Note: If you have lots of data, this is not recommended. | ## Select New>All Inclusive to adjust all warehouses. Note: If you have lots of data, this is not recommended. | ||
## Select New>For Location Only to adjust one warehouse. | ## Select New>For Location Only to adjust one warehouse. | ||
# Filter on Location: Inventory adjustments need to be done per warehouse, so select the warehouse you are adjusting. Note that you will need separate batches for each warehouse. | # Filter on Location: Inventory adjustments need to be done per warehouse, so select the warehouse you are adjusting. Note that you will need separate batches for each warehouse. | ||
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− | + | == Following Section Applies to before SME 8.1 == | |
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− | Following Section Applies to before SME 8.1 | ||
== Adjusting a single inventory item == | == Adjusting a single inventory item == | ||
If you are adjusting a single inventory item, you can open the Inventory Reconciliation window from the inventory item.<br> | If you are adjusting a single inventory item, you can open the Inventory Reconciliation window from the inventory item.<br> |