About the Inventory Control application
Use the Inventory Control application to track your merchandise and maintain and analyze your inventory.
Before you first use Inventory Control, you or your system administrator must subscribe to and configure this application for your company. Configuring this application involves selecting the features you want to appear in the menus and screens as well as assigning permissions to those who need to access those features. For step-by-step instructions on how to configure Inventory Control for your company, go to Configuring inventory.
With the Inventory Control application, you can:
- Receive, transfer, ship, and adjust inventory
- Analyze inventory with an array of customizable reports.
- Link multiple warehouse, sales, and administrative locations without expensive IT infrastructure
- Manage finished goods inventory either at a single location or at multiple warehouses or locations with multiple product lines
- Track any number of vendors per inventory item, along with reorder levels, quantities, and costs using multiple cost-evaluation methods
- Define Items with attributes such as product line, cost method, vendor, most economical reorder quantity for that vendor, and where it is warehoused. You can also define the reorder method. For example, do you want to reorder when inventory reaches a low set point, or do you want to always maintain a certain quantity?
- Create transactions and their documents using customizable templates. Intacct supplies a set of standard templates sufficient for most businesses–adjustments, transfers, damaged goods, inventory receipts, scrap or spoilage, and shippers. However, you can customize these templates, or create new ones, to suit your business model. If you have a once-a-year sale of cosmetically imperfect items directly from your warehouse, you could create a single document for warehouse personnel to simultaneously ship and sell these items.
- Set user permissions to enable user access only to specific processes, transaction documents, and reports
- Create new documents or convert existing documents. For example, you can convert a purchase order to an inventory receipt, which maintains accuracy and saves time. When you save a transaction, the system automatically checks inventory levels, creates backorders, and so on.
- See running totals of items that are requisitioned, on order, on hand, on hold, damaged, or scrap or spoilage
- Add sales tax and other taxes at a fixed percentage or based on schedules as complex as you like. You can post subtotal amounts to any GL account.
- Customize reports to assist your staff – from warehouse personnel who locate items to managers who analyze how to maximize efficiency and profits. For example, the Inventory Valuation report provides enables you to research the trends of your inventory, so that you can make informed decisions. The Inventory Reorder report proposes how much, if any, of a given item you should order for any warehouse that needs that item.
The Inventory Control application is fully integrated with our online suite of accounting applications, including General Ledger, Purchasing, Order Entry, AP, and AR, which enables you to create a seamless chain of transactions from requesting quotes from vendors to receiving the merchandise into your warehouse to invoicing your customers.