| Course OutlineModule 1: Overview This chapter introduces you to the Inventory Control module of the Microsoft Great Plains product and training course, and the screens and processes that are used to complete the accounting cycle in Inventory. It is important to note that this chapter is optional and can be skipped at the instructor's discretion if the instructor feels that each student's background provides sufficient experience in these topic areas. Lessons - Course Description
- Module Overview
- Process Flow
- Other Features
Module 2: Setup ProceduresThis chapter examines the setup options available in the Inventory Control module. We introduce each of the required steps along with recommended options for various business models. This chapter discusses each option in detail and provides examples to better illustrate concepts. Lessons - Procedures for Setting up Inventory Items
- Item Classes
- Unit of Measure
- Price Levels
- Prices Groups
- Inventory Items
- Price Lists
- Inventory Quantities
- Bins
- Purchasing
- Vendors
- Kits
- Lot Categories
- Reports
- Beginning Quantities
- Stock Calendar
After completing this chapter, students will be able to: Module 3: Inventory Control Daily ProceduresThis chapter introduces the main Inventory transaction screens. An inventory transaction is processed whenever an inventory item's quantity or cost information changes. You gain an understanding of how Inventory transactions can be used to record issues and returns, to adjust quantities and costs, and to move items from site to site and bin to bin. You review the process by which Inventory transactions are released to the General Ledger depending on your posting setup. You also examine the methods for performing physical inventory counts. You see how to complete a full physical inventory and the various options available for selecting items to include in a cycle count. Lessons - Inventory Batch Posting
- Inventory Single Posting
- Changing Quantity Types
- Cost Variance Journals
- Adjustment Transactions
- Variance Transactions
- Transfer Transactions
- Stock Counts
After completing this chapter, students will be able to: Differentiate between Batch posting and Transaction Posting Different Methods of posting Enter Inventory Transactions (posting to General Ledger), Inventory Transfers, and Inventory Variances Generate and Enter Stock Counts Transfer items between Bins
Module 4: Maintaining RecordsThis chapter discusses how to make cost, valuation, and price adjustments to existing items in your system. You also see how to delete item records when necessary. You review a series of screens available for viewing inventory item balances and easily drilling down to the transaction details. The Inquiry screens allow you to quickly view item information without having to print reports. You also discuss the Inventory detail retention and deletion options. Lessons - Change and Delete Records
- Change Valuation Methods
- Change Decimal Places
- Adjust Costs
- Remove History
- Remove Bins
- Reconcile
- Price List Utilities
- Item Inquiries
- Creating/Printing Inventor Reports
Module 5: Period-End ProceduresThis chapter examines the process of closing an accounting period and the fiscal year for the Inventory Control module. The steps necessary to complete each phase of the closing process is discussed for the end of a period as well as a fiscal year. You look at the reports that should be printed before performing the closing process. Time is spent examining what actually takes place during the closing process and approaches that an organization may use for this process. Lessons - Period-end Checklist
- Printing Reports
- Completing ABC Analysis
- Closing the Fiscal Period
- Year-end Closing
Module 6: ConclusionThis chapter discusses the key points covered in this course. Lessons - How to enter an item, including setting up item options, assigning price levels, assigning vendors, configuring purchasing options and assigning customer-specific item information
- How to enter an item class and where they can be used to speed data entry, facilitate reports and inquiry and as ranges in SmartList views
- How to set up an inventory site and assign items to it
- How to enter an Inventory Increase and Decrease Adjustment
- How to enter an Inventory Variance Transaction
- How to transfer items between sites
- How to prepare a Stock Count Schedule and enter actual quantities from a physical count
- How to assign an ABC status to your items using values or quantities
- How to run Pricing Utilities to adjust your prices on multiple items
Module 7: Appendix: SmartListThis appendix discusses the use of SmartList to access financial data. There are also optional exercises that can be completed by students if time permits. Lessons - Using SmartLists
- Creating Objects
- Using the Search Button
- Saving New Objects as Favorites
After completing this chapter, students will be able to: Use SmartLists to access valuable sales data Create new SmartList objects Use the Search button to manage the information in a view Explain the various options that are available when using SmartLists
Module 8: Appendix: Case StudyThis case study is a comprehensive lab that can be used to reinforce the learning that has occurred throughout the Inventory Control class. Lessons - Inventory Control Setup
- Inventory Control Document Entry
- Printing Inventory Control Documents
Module 9: Appendix: Test Your KnowledgeThis appendix contains short answer and True or False questions that may be used as a review of the information covered in this course and may be used as time permits. Answers to all questions are provided at the end of the section. |
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