Configure Inventory Control

Use the Configure Inventory Control page to make choices about how you manage the items you buy to operate your business, or sell to customers. For example, you can:

  • Set a default cost method to display as the default for all items.
  • Create new warehouses and product lines or modify existing ones.
  • Enable features that allow you to track internal supplies or warehouse transfers, manage landed costs, conduct cycle counts, reorder inventory efficiently, and more.
  • Report against dimensions.

Best practice: Use an advanced workflow to perform additional tasks, such as installing a workflow to define how inventory transactions are processed throughout your financial system. We recommend that you only use Inventory Control with an advanced workflow.

Subscription

Inventory Control or Supplies Inventory
Regional availability

Australia, Canada, UK, USA, South Africa
User type Business user with admin privileges
Permissions

Administration

  • Application subscriptions: List, View, Configure

  1. Go to Inventory Control > Setup > Configuration.

  2. In the Workflow section, you can select, Enable advanced workflow, for greater flexibility and control over your transaction workflows. This option is enabled automatically for a Supplies Inventory subscription.

    When you enable an advanced workflow, the transaction definitions are defined outside of the configuration page on the Transaction definitions page (go to Inventory Control > Setup > More > Transaction definitions). If you implement other companies, you can use the import and export features in the Workflow section to re-use an existing workflow from another company.

  3. Under Accounting in the Costing subsection, select a Default cost method:

    • Standard: The planned or expected costs. This method is used in situations where purchase costs remain relatively stable over time.
    • Average: Takes the weighted average of all units available for sale and uses that average to determine the value of the cost of goods sold (COGS) and ending inventory.
    • FIFO (First in, First out): Assumes that the first item into your inventory is sold first.
    • LIFO (Last in, First out): Assumes that the last unit into your inventory is sold first.
  4. Select or enable additional features. Options are available to help you manage supplies, track items, define the dimensions that you want to track and report on, identify transaction definitions that you want to use, and more.

    Learn about all Inventory Control configuration options.

  5. When you're done, select Save.