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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 Page 4 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. Page 5 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. Page 6 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. Page 7 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. Page 8 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. Page 11 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. Page 12 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 Page 13 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: Page 14 TAKIN' CARE OF BUSINESS! 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. Page 15 TAKIN' CARE OF BUSINESS! 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. Page 16 TAKIN' CARE OF BUSINESS! 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. Page 17 TAKIN' CARE OF BUSINESS! 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. Page 18 TAKIN' CARE OF BUSINESS! 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" Page 19 TAKIN' CARE OF BUSINESS! 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: Page 20 TAKIN' CARE OF BUSINESS! 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 Page 21 TAKIN' CARE OF BUSINESS! 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 Page 22 TAKIN' CARE OF BUSINESS! 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 Page 23 TAKIN' CARE OF BUSINESS! 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 Page 24 TAKIN' CARE OF BUSINESS! 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. Page 25 TAKIN' CARE OF BUSINESS! 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. Page 26 TAKIN' CARE OF BUSINESS! 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 Page 27 TAKIN' CARE OF BUSINESS! 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 Page 28 TAKIN' CARE OF BUSINESS! 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. Page 29 TAKIN' CARE OF BUSINESS! 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. Page 30 TAKIN' CARE OF BUSINESS! 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 Page 31 TAKIN' CARE OF BUSINESS! APPENDIX A - SAMPLE REPORTS SAMPLE REPORTS NOT INCLUDED ON DISK MANUAL Page 32 TAKIN' CARE OF BUSINESS! 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 Page 33 TAKIN' CARE OF BUSINESS! INDEX INDEX IS NOT INCLUDED ON DISK VERSION OF MANUAL Page 34