Summary

Follow this process to reverse committed inventory transactions.

Step by Step

1     Create an Inventory Transactions batch.

• Select the Inventory Transactions palette in IC> Inventory Transactions. This will expand the Inventory Transactions palette and display the steps of the batch process.
• Modify an existing batch or create a new Inventory Transaction batch.
  • Select a batch number from the drop-down menu at the top of the palette to select an existing batch.
  • Select New from the Inventory Transactions batch number drop-down menu to create a new batch. This will open the New Batch window.
  • Enter a Batch Month and Batch Year. These fields will default to the current calendar period and calendar year. These values are used for reference only, and are not necessary the fiscal month and year the transactions in the batch will be posted to. The fiscal period the transactions are posted to is determined by the journal Entry date entered when creating the GL Distribution List report.
  • Type in a batch number and click the Save icon or hit ENTER to create a batch in the current batch month and year. You can also click the Generate icon to create a batch with the next available batch number (the highest batch number used in the present month plus one).
    • The batch number is used to identify a specific batch. Batch numbers are limited to five digits and must be unique with the batch month of the batch year.
  • You can have more than one open batch in a process at a time.
  • You can delete batches by selecting a batch and pressing the DELETE key. However, if the batch was created by another process, such as a committed PO Receiving batch, your ability to delete the batch will be limited.

2     Create the reversing transaction.

• The Enter Transactions (IC> Inventory Transactions> Enter Transactions) window will display all inventory transactions in the batch. If this is a new batch or there are no transactions in the batch the window will be empty.
• Click the Generate icon drop-down menu and select Generate reversing transactions. This will open the Generate Reversing Transactions window.
  • Enter an Item Number or click the field label to select one from a list.
    • This will open the Item Selection window. Use the fields on the General, Location and Vendor tabs to filter the inventory items displayed in the data grid below. Highlight an inventory item and click the Confirm icon to return to the Generate Reversing Transactions window. The selected item will populate the Item Number field.
    • Inventory Items are created and maintained on the Item Maintenance window (IC> Maintenance> Item).
  • Click the Refresh icon to populate the data grid with every transaction associated with the selected item that can be included in a reversal transaction.
    • You can also select a Transaction Type from the drop-down menu if you would like to filter the displayed transactions by transaction type.
  • Highlight a transaction and click the Confirm icon to reverse the selected transaction. This will return you to the Enter Transactions window.
    • If the selected item is associated with an uncommitted Inventory Transaction batch, you will not be able to create a reversing transaction.
• Click the Exit icon to close the Enter Transactions window and proceed to the next step.

3     Calculate the inventory transaction values.

• Open the Calculate Values window (IC> Inventory Transactions> Calculate Values).
• The Calculate Values step will generate the new inventory values that will result from committing the batch.
• Click the Confirm icon to calculate the transaction values.
  • You will be notified of errors resulting from the calculation process and prompted to open detailed error messages in the jobs viewer.

4     Process the inventory transactions.

• Reversals will only display on the Item Maintenance window if the Show committed reversals toggle is checked.