You can use these menu options to record movements of stock in your system. If you have purchased any of the Datafile Software order processing, invoicing and/or job costing applications, then these can also create transactions in your stock system.
Transactions are given a transaction type code to identify what they are in reports. The transactions and their codes are:
1 Sales issues to customers
2 Purchase orders placed on suppliers
3 Purchase orders received from suppliers
4 Goods received into stock, not subject to a purchase order
5 Stock adjustments
6 Stock reserved, for customers or for assemblies
7 Stock transfers/Location transfers
8 Stock take adjustments
9 Assembly movements
A Cost/Price changes
Choosing the Stock Transactions option gives the following screen.
As you may notice two options ‘Stock Take’ and ‘Assemblies’ are not available here as these are generated from elsewhere in the Stock System and are discussed later. Also ‘Cost’ and ‘Loc/Tfr-Location Transfer’ are only available depending on system configuration.
Transaction entry occurs in three stages: the transaction header, in which you enter items common to a set of details — such as date, reference number, sales or purchase account code, selling price used — the transaction detail lines themselves where you enter the stock, quantity, price details and the final stage of completing the transaction input where a document can be printed and extra notes added (available on Diamond and Premier) before update of the stock transactions.
Regardless of the type of transaction, a number of common factors apply for the transaction input and these are described first, prior to describing each transaction type.
The system date is displayed, which you can accept by keying <Enter> or overtype with another date and <Enter>. The Stock ledger works within a current period – you can create transactions in that period and, optionally, in the following period. If you create a transaction outside the current period then a number of messages can occur.
If the date is rejected as outside the range then you have entered a date outside the current period, it is either later or earlier than the period given. Press <Enter> or click the OK button to continue and give a correct date, or seek advice from the system supervisor if the date you wanted to enter is correct.
If the date is earlier than the current period (and within the current accounting calendar dates) then you may be prompted to allow posting of the transaction and use the earlier date. This posts the transaction as at this date for reporting purposes but updates the demand etc. for the current period.
If the date entered is within the next period’s date range then you are prompted to post as a forward transaction, you can continue if you wish – it may be that the stock period end routines have yet to be run but you need to enter stock transactions.
Forward Stock Not In Use
If the options for forward stock are not in use then on entry of a date outside the period you are warned ‘Date Out of Range for Current Period’, this is not a mandatory warning and you can proceed with the date entered but note that current period values for demand etc. are updated regardless of the date entered.
Recalculate Cost Price for Stock Valuation
If the option to ‘recalculate cost prices’ is in use then you will be prevented from posting transactions dated before the start of the current period once the first recalculation has been run for a date in the current period. This option is covered with the other period end routines.
The next reference is often suggested for you based on a sequence per transaction type, however if entering information from a document you could use the document reference – i.e. invoice number for sales issues, delivery number for purchase deliveries.
Applicable for all bar Stock Adjustments, Transfers and Cost Price Changes this allows you to enter the sales or purchase account to which the transactions type refers.<F4-Select> to the sales/purchase account file is available although you can leave this blank if appropriate.
For sales and stock reservations, you can specify the price to be used for these transactions. A default issue price (0 for cost, 1-9 for selling prices) can be specified under the stock System Profiles, and determines the default offered for the transaction details. Accept by keying <Enter> or overtype it.
If you want to analyse stock transactions later under (say) department or by stock controller, then you can define an additional item that is prompted here. The prompt for "User item 1” is specified in the Stock System Profiles. Enter the required value here and press <Enter>, or leave blank. This option is not applicable on Compact.
Notes
Optionally, on Diamond and Premier systems you may first be asked to ‘Enter the Total Quantity of the Document’. This assumes that you are entering details from a pre-totalled document and ensures that the transaction entry is self-checking. Key in the total quantity for the document and press enter.
Also, on Diamond and Premier you can configure the system to omit prompting for the sales/purchase account code (separately) and the ‘which price’ prompt. This is achieved through the Application User Facilities
The number of transaction details you can enter per any one transaction isn’t limited however you should note that these transactions are held in memory until you update the files – you should avoid, were possible, entering hundreds of details and then finding you have to re-key because you abandon towards the end or you run out of record space.
The items that appear within the transaction detail input are reasonably fixed with limited configuration. The Application User Facilities does allow the omit to omit input/confirm of the Tax Amount and the Stock System Profiles allows configuration of a prompt for the ‘User Item 2’ which, unlike User-1, is prompted at the transaction detail level.
Pressing <Enter> or <End> in the stock column of a blank line completes the transaction input (if using location stock you will have to blank out the default location before pressing <Enter>).
A number of prompts can then occur depending on
configuration, in sequence these are:
Totals Incorrect. If configured to pre-enter quantity totals
then if the entered details do not match that of the pre-entered total you are
warned and then asked to re-check the total/details entered.
Extra Transaction Updating. Up to eight extra confirm items can be configured for entry (Diamond and Premier only); these could include extra notes regarding the transaction or a shipment id, etc. Any extra items are configured through the Stock Application User Facilities
Print the Document. A document can be printed showing the transaction details input – this could be used a delivery document or receipt of goods/transfer.Document print is only available on Diamond and Premier systems and can be configured through the Stock Application User Facilities.
Update Stock Files.‘No’ returns you to the start of the transaction and allows you to amend the details input so far. ‘Yes’ causes the files to be updated, a progress bar being displayed as this is updated. If printing the document then you may be forced to update the files after document print depending on configuration.
Enter Another Transaction. ‘Yes’ allows you to enter another transaction, ‘No’ takes you back to the transaction menu.
Article ID: 422
Created On: Mon, Jun 18, 2012 at 11:39 AM
Last Updated On: Thu, Jun 22, 2023 at 11:22 PM
Online URL: https://kb.datafile.co.uk/article/stock-transactions-422.html