New Inventory Tracking Features

This Help File Page was last Modified on 12/06/2017

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New Inventory Tracking Features

This Help File Page was last Modified on 12/06/2017

A new Work In Progress field (WIP) on the Sale-Purchase Items Form tracks that WIP Quantity of those Inventory Items as follows:

 

HelpFilesNewSale-PurchaseItemForm-WIP

 

Basically, the WIP Quantity is increased when an Inventory Item is Used on a Job; and/or recorded in the Inventory/Materials tab on a Work Order Form.

Then the WIP Quantity is reduced when those Inventory Items recorded on the Inventory/Materials tab on a Work Order are actually Invoiced to the Subscriber after the Work Order is completed; or when a Work Order associated Job Task is Invoiced, and/or the Job itself is marked as Completed.

 

Tracking Work in Progress

1.When an Inventory Item is Used on the Job Costing Form which was previously Reserved on that Job Costing Form the Committed on Hand Count will be decreased, and the WIP (Work in Progress) will be increased by the Quantity that was recorded as Used.

2.When an Inventory Item is Used on the Job Costing Form which was not previously Reserved on that Job Costing Form the Available on Hand Count will be decreased, and the WIP (Work in Progress) will be increased by the Quantity that was recorded as Used.

3.The new Inventory WIP Report lists all Inventory Items' Counts that were transferred to Work In Progress via a Job and/or Work Order entry, executed within the Date Range specified, and subject to certain filtering and selection options.

 

When Inventory Usage is recorded on a Work Order Form:

1.If the Service Request was created through the Job Costing Form, and those required Inventory Item(s) were previously identified on that Job Costing Form as Reserved

a.The On Hand Count will be decreased  by the Quantity that was recorded as Inventory Items Used on the Inventory\Material tab of the Work Order Form.

b.The Available On Hand will be decreased  by the Quantity that was recorded as Inventory Items Used on the Inventory\Material tab of the Work Order Form.

c.The WIP (Work in Progress) will be increased by the Quantity that was recorded as Inventory Items Used on the Inventory\Material tab of the Work Order Form.

 

2.If the Service Request record was created directly on the Inventory\Material tab (not created from a Job),

a.The On Hand Count will be decreased  by the Quantity that was recorded as Inventory Items Used on the Inventory\Material tab of the Work Order Form.

b.The Available On Hand will be decreased  by the Quantity that was recorded as Inventory Items Used on the Inventory\Material tab of the Service Request Form.

c.The WIP (Work in Progress) will be increased by the Quantity that was recorded as Inventory Items Used on the Inventory\Material tab of the Work Order Form.

 

3.When a Service Request - which had Inventory Usage recorded on the Inventory\Material tab of a Work Order Form (see "When Inventory Usage is recorded on a Work Order Form" above) - is then Invoiced

a.In the Inventory Tracking System: As part of the Completing the Service Request, when an Invoice is created for the services performed and there were Inventory and Materials recorded as required for the completion of that Work Order, The WIP (Work in Progress) Count will be decreased by the Quantity that was recorded on the Inventory\Material tab of the Work Order Form  

 

4.When a Service Request - which had Inventory Usage recorded on the Inventory\Material tab of a Work Order Form - is Closed, but Not Invoiced (e.g., Warranty Repair, Free-bee, for Office use):

a.In the Inventory Tracking System:  As part of the Completing the Service Request, when no Invoice is created for the services performed but there were Inventory and Materials recorded as required for the completion of that Work Order,

b.The WIP (Work in Progress) Count will be decreased by the Quantity that was recorded on the Inventory\Material tab of the Work Order Form  

 

Inventory WIP Report - The new Inventory WIP Report lists all Inventory Items' Counts that were transferred to Work In Progress via a Job and/or Work Order entry, executed within the Date Range specified, and subject to certain filtering and selection options.

To access the Inventory WIP Report:

a)From the Backstage Menu System Select Reports then Choose Inventory Reports and Select the Inventory WIP option, or

b)From the Quick Access Menu, Select Reports then Choose Inventory Reports and Select the Inventory WIP option

 

HelpFilesInventoryWIPDialog

Inventory WIP Report - Options tab

 

Options - Initially only the Options tab is shown (until you make your Options selections and Select Print).

Order By - Establish the sequence the Inventory Items will be listed.

Inventory Item - Sort the list of  Inventory Items by Part Number.

Subscriber - Sort the list of  Inventory Items Subscriber ID, then within each Subscriber, by the Inventory Item's Item ID.

Technician - Sort the Inventory Items by Technician, then within each Technician, by the Inventory Item's Item ID.

Job - Sort the list of Inventory Items by Job Number, then within each Job Number, by the Inventory Item's Item ID.

Date - Sort the Inventory Items by the Date that they were used, then within each Date, by the Inventory Item's Item ID.

Work Order - Sort the Inventory Items by the Work Order Number, by the Inventory Item's Item ID.

 

One or All - Based on the Order By option selected above, Choose whether All of the records for the select Order By method will be listed, or only a specific One.

Inventory Item - If the Inventory Item order option was selected above, you may include All Inventory Usage in the report, or the Inventory Usage of One specific Inventory Item.

oOne - Click this button to report usage for only one Inventory Item.  Use the Drop-Down Selection List to Choose the appropriate Inventory Item's Item ID.

oAll - The default.  All Inventory Usage of all Inventory Items will be listed.

Subscriber - If the Subscriber order option was selected above, you may include All your Subscriber's Inventory Usage in the report, or the Inventory Usage of One specific Subscriber.

oOne - Click this button to report usage for only one Subscriber.  Use the Drop-Down Selection List to Choose the required Subscriber.

oAll - The default.  All Inventory Usage for all Subscribers will be listed.

Technician - If the Technician order option was selected above, you may include All your Technician's Inventory Usage in the report, or the Inventory Usage of One specific Technician.

oOne - Click this button to report usage for only one Technician.  Use the Drop-Down Selection List to Choose the required Technician.

oAll - The default.  All Inventory Usage for all Technician will be listed.

Job - If the Job order option was selected above, you may include All your Jobs in the report, or the Inventory Usage of One specific Job.

oOne - Click this button to report usage on only one Job.  Use the Drop-Down Selection List to Choose the required Job.

oAll - The default.  All Inventory Usage for all Jobs will be listed.

Work Order - If the Work Order order option was selected above, you may include All your Work Orders in the report, or the Inventory WIP for One specific Work Order.

oOne - Click this button to report usage on only one Work Order.  Use the Drop-Down Selection List to Choose the required Work Order.

oAll - The default.  All Inventory WIP for all Work Orders will be listed.

 

Selection Type - You may Limit the report to the Inventory Items for Work Orders, Jobs, or include Both (the default).

Job - Includes only Work In Progress entries from Jobs.

Work Order - Includes only Work In Progress entries from Work Orders.

Both - Includes all Work In Progress entries.

 

Dates - Click the Selected button to report Inventory Usage that occurred within the specified Beginning and Ending Date Range.

The default dates will be for the month preceding the current month.

 

HelpFilesInventoryUsageReportSelectedDatesOption

Dates option with default Dates inserted

 

Print - Click the Print button HelpFilesPrintButton to Preview and optionally Print (to a File or a Printer) this Inventory WIP Report.

 

Preview - The Preview tab presents the report which resulted from the Options you've selected.

Up Arrow/Down Arrow - hi - Moves the report one line up, or one line down, respectively.

Page Up/Page Down - Moves the report to the previous or next page, respectively.

Subscriber ID - Click this number to open the related Subscriber Form.

W/O# - Click this number to open the related Service Request Form.

Job # - Click this number to open the related Job Costing Form.

 

HelpFilesInventoryWIPPreview

Inventory WIP Report - Preview tab

Home - HelpFilesHomeKey- Using either the screen icon or your Keyboard's Home key, moves the report to the top of the first page.

End - HelpFilesEndKey- Using either the screen icon or your Keyboard's End key, moves the report to the bottom of the last page.

Arrows - The arrows allow you to move back and forth, from page to page.

Number - Indicates the page number you are viewing.

You may also type in a specific page number, Press 8 Enter and that page will be displayed immediately.

If you enter an invalid page number, it will be ignored.

Fit To Page - Click the first button after the arrows to size a full page of the report to fit the screen.

Zoom To 100% - Click the second button after the arrows to display the page at 100% (of the printed view).

Fit To Page Width - Click the third button after the arrows to size the page of the report to fit the full width of the screen.

Zoom To Percentage - Click the fourth button after the arrows to re-size the page of the report by percentage.

 

HelpFilesPercentageOfViewAdjuster

When you Click the Zoom To Percentage button, the Percentage selector will be displayed.

You may then Click the Up  or Down arrows to set the exact amount of Zoom you want.

Print - Click the Print button to Print (to a File or a Printer) HelpFilesPrintIconthe displayed Inventory Usage Report.

Email - Click the Email button HelpFilesEmailButtonto send the Report to an Email Address of your choosing.

 

Understanding the new Calculate Average Item Cost Form

For those Companies using the STARK 35 version of the General Ledger System, the recommended Inventory Valuation method is Last In/First Out ("LIFO")

 

Inventory Listing - When the Calculate Average Item Cost Form is opened, only those Sale-Purchase Items which have been identified as an Inventory Item and have actually been Purchased (versus those which were defined, but for which no Inventory has yet been acquired) will be listed.

 

HelpFilesCalculateAverageItemCostInventoryListing

 

A tabular (spreadsheet style) Record Listing of the Inventory Item records is displayed.

Note: Those Inventory Items that have been marked as Inactive will not be included in this Inventory Listing.

 

There are five columns of data in this Inventory Items Record Listing:

1)Update? - This is a Check Box field used to "select" this Inventory Item.

2)Item - The Sale-Purchase Item ID (Purchase Category Code) assigned to the Inventory Item

3)Description - The Description of this Inventory Item

4)Current Cost - This is the Price - excluding Sales Tax - that was entered manually in the Sales-Purchase Items Form, or previously updated using this procedure

5)Average Cost - This is the most recently calculated Average Cost - including Sales Tax - for the Inventory Item

 

Each column's Header Name describes the data contained in that column.

Clicking on a Header Name will set the order in which the Inventory Items will be listed.

Clicking on the same Header Name will set the order in the opposite direction (ascending vs. descending).

The Header Name that is determining the Order of the list will have an Icon indicating the Order displayed next to that Header Name.

 

Find - Use the Find option to locate a specific (set of) Inventory Item record(s):

 

HelpFilesCalculateAverageItemCostFindClear

 

Enter text to search... - Type in the characters that represent the Inventory Item(s) to be located.

All alphabetic characters - regardless of how they are entered - are treated as both lower case and upper case letters during the search process.

Click the Find option to display the results:

 

HelpFilesCalculateAverageItemCostFind

Search Results using the Find option

 

Make the changes needed:

oModify the Average Cost and/or

oCheck the Update box

Click the Update Accounts option if an Average Cost modification was made.

Click the Calculate Cost and the Update Accounts options if the updates represent Inventory Item record(s) that need to be recalculated (because they represent a new entry, and/or after an Inventory Adjustment).

Click the Clear option to display all of the Inventory Item records.

 

At the bottom of the Calculate Average Item Cost Form are the Action options

Actions - Click the option that provides the desired function:

 

HelpFilesCalculateAverageItemCostActions

Calculate Average Item Cost - Action options

 

Select/Deselect All - Select this Action Icon to Check (or Un-Check) each Update? field's Check Box (see the "Inventory Listing" section above).

 

HelpFilesCalculateAverageItemCostActions-UpdateColumn

oClick this option and Check Marks are placed in each Update? box.

oClick this option again and all of those Check Marks are removed.

 

Calculate Cost - Click on the Calculate Cost Icon on this Calculate Average Inventory Item Cost Form to update both the Average Cost (this corresponds to the COGS Value field in the Sales-Purchase Items Form) column, and the Current Cost (this corresponds to the Price field in the Sales-Purchase Items Form) column for each listed Inventory Item

 

HelpFilesCalculateAverageItemCostActions-RecalculateAverageCost

Calculate Average Cost?

 

oConfirm that this recalculation is needed.

oThe (re-)Calculated Average Cost (e.g., using the 5 most recent Purchases of the Inventory Item, the Purchase Price paid, and Quantity received for each Inventory Item is summed and then divided by that Quantity) column, and the Current Cost (e.g., Purchase Price paid - exclusive of Sales Tax - for the most recent Purchase of this Inventory Itemcolumn are updated on this Calculate Average Item Cost Form for each Checked Inventory Item.

 

Update Accounts - This option is used to selectively identify the Inventory Items for which the Average Cost is to be posted to the COGS Value field in the Sales-Purchase Items Form, and the total Value (Average Cost * Quantity On Hand) is to be posted to the Inv. Value field in the Sales-Purchase Items Form.

oUpdate? - Check this box for each Inventory Item which should have its COGS Value (Average Cost) and total Inv. Value (Average Cost * Quantity On Hand) updated on the associated Sales-Purchase Items Form.

oUpdate Accounts - Click the Update Accounts option to post these Values to  the associated Sales-Purchase Items Form.

 

HelpFilesCalculateAverageItemCostActions-UpdateItemCostNow

Update Item Cost Now?

 

a)For the 5 most recent Purchases of the Inventory Item, the Purchase Price paid, and Quantity received for each Inventory Item is summed and then divided (total price paid divided by total number received) to determine the COGS Value (Average Cost).

b)The Quantity On Hand multiplied by the recalculated COGS Value (Average Cost) is entered in Inv. Value field (this is the total Value of what is in stock) for that Inventory Item

oA summary of the updates is then displayed at the bottom of the Calculate Average Item Cost Form

 

HelpFilesCalculateAverageItemCostActions-UpdateItemCostResult

 

oA sample of the Sale-Purchase Item Form with these type of Updates is shown below.

 

HelpFilesSale-PurchaseItemsInventoryInfoBoxValues

Sale-Purchase Items Form - Inventory Info box - Inventory Value fields