█ Fine Gold & Jewels ♦ Inventory Transfer and Adjustment █
█ Sku No. Description Cost Reorder Levels: █
█ ABC-99999 18KY 5.0C SAPH, .25CT DIA 100.00 █
█ Low Qty: 0 █
█ Vendor Code Style Replacement Weight: 0.000 █
█ CMP 1234 Cost █
█ 0.00 High Qty: 0 █
█ Mfg Code Quantity Quantity Weight: 0.000 █
█ CMP In Stock Received Price █
█ 11 35 200.00 On Layaway: █
█ Date Rec’d Quantity: 14 █
█ 10/20/92 Location Qty Reg Price Weight: 0.000 █
█ AA 3 200.00 █
█ Minor Class BB 8 Value by Weight █
█ 11 0 Weight or by Piece: █
█ 0.000 Price: P Cost: P █
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Any field on the screen can be changed unless otherwise indicated:
SKU No.*} The item's SKU number appears for reference, and cannot be changed.
VENDOR CODE*} Vendor code.
MANUFACTURER CODE*} The manufacturer of the item. For example, if you are ordering Seiko watches from Seiko, both the vendor and the manufacturer are Seiko. However, if you are ordering Seiko watches from Joe Green, then Mr. Green is the vendor and the manufacturer is Seiko. Usually, the vendor and the manufacturer are the same.
MAJOR CLASS*} The major class code is the same as the first three digits of the SKU number. This field cannot be changed.
MINOR CLASS*} The three-digit minor class code.
DESCRIPTION*} The item description.
STYLE*} The vendor style reference code.
TOTAL QUANTITY*} The total quantity (of this SKU number, not this style) available in all locations.
LOC / QTY*} Type each location and the quantity in each location. An item transfer can be recorded by entering the new quantities in the appropriate locations.
Example: The screen shows you have three items at location AA, and 8 at location BB. If you have transferred two items from BB to AA, type a 5 as the quantity at location AA, and 6 as the quantity at location BB.
COST*} If the item is purchased and sold by quantity, type the cost for one item. If the item is purchased and sold by weight (gram, carat, etc), type the cost per unit of weight. Whether or not an item is purchased or sold by weight or piece is set up from the major class code setup screen. Within a major class code, all items must either be purchased by the piece or per unit weight.
It is possible to purchase items on a per unit weight basis, yet sell them on a per piece basis. This depends on how the major class codes are set up.
REPLACEMENT COST*} The cost to replace the item if lost or stolen.
PRICE*} Your selling price for the item.
MSRP*} The Manufacturer’s Suggested Retail Price
WEIGHT*} If the item is sold by weight, type the item's total weight for all the items if there are more than one. (e.g. if you had a parcel of 75 ten-pointers, enter 7.5). If the item is not sold by weight enter zero even if the item contains precious gems or metals.
REORDER LOW QTY, WEIGHT*} If this is an item for which you want to maintain certain inventory levels, enter a Low Quantity or Low Weight number. This number would be the reorder ‘trigger’ number. When the inventory level (or weight for precious items) of this style number falls below this number, the reorder report will prompt you to re-order more of them. If you change the Low Quantity or Weight for this SKU number, all SKU numbers with the same style number will automatically be updated.
HIGH QTY, WEIGHT*} If this is an item for which you want to maintain certain inventory levels, enter a High Quantity or High Weight number. This number would be the ‘desired’ quantity level. When the inventory level of this style number falls below the Reorder Low Quantity (described in the previous paragraph), the reorder report will prompt you to re-order a sufficient quantity to re-attain this level. If you change the Low Quantity or Weight for this SKU number, all SKU numbers with the same style number will be automatically update.
REORDER EXAMPLE*} If you choose a Low Qty of 4 and a High Qty of 9, the reorder report will not prompt you to reorder unless the quantity falls below 4. If the level falls to 2, the reorder report will prompt you to order 7 (to attain 9)
If you choose a Low Qty of 5 and a High Qty of 5, this indicates that you always want to maintain a level of five and want to reorder this item every time you sell one.
ON LAYAWAY*} This number is the quantity of this SKU number that have been placed on Layaway. If a layaway has been canceled, it is best to edit the layaway screen via Sales menu and remove the item from the sales invoice rather than just editing the quantity here. This quantity is not available for sale and is NOT included in the Total Quantity field.
VALUE BY WEIGHT OR BY PIECE*} Most items are bought and sold by the piece. You purchase two watches at $275 for a total cost of $550, and you sell two watches at $595 each for a total price of $1190; in which case the Price and Cost would both be valued by the Piece (enter P). However, you may purchase 5½C diamonds at $1000 per carat for a total of $2500 and you may sell them for $1200 per carat for a total of $3000; in which case the Price and Cost would both be valued by the Weight (enter W). Another possibility is that you may purchase chain at $16 per gram but want to ticket the chain at a marked price of simply $150. in which case the Cost would be valued by the Weight (enter W) and the Price would be valued by the Piece (enter P)
Whether an item is priced or costed by the weight or piece is determined from the major class code set up. Changing the price or cost method for a single item can cause confusion because all the other items in that class code will remain the same as the major class code screen indicates.
If you change the Quantity in Stock, you will be asked to confirm if you really meant to do that.
Do you really want to adjust the total quantity? No Yes <Esc>=Quit
If you confirm by pressing <Y> you will be asked to enter a brief explanation for the inventory level adjustment. In addition, it is probably a good idea to enter the name of the person making the change.
If you do change the Quantity in Stock number, note that the total of the quantities in all location must add up to the new quantity in stock.
ENTER THE INVENTORY ADJUSTMENT EXPLANATION BELOW:
You can see a list of adjustments either via the Display an Item Status screen or by choosing the Report Adjustments option of Adjust, Transfer & Edit Inventory.