Inventory Control in Microsoft Dynamics GP - 80229 Course Outline
The Microsoft Dynamics GP Inventory Control course explores all aspects of the Inventory Control module, from the initial setup of inventory items and the multiple methods of valuation supported, to the types of inventory transactions available and the tight integration to the Purchase Order Processing and Sales Order Processing modules.
This course shows you how to define default system parameters to improve user efficiency and cut down on costly data entry errors. These parameters include General Ledger accounts used in the Inventory Control module, as well as sites, product classes, valuation methods, and more. This course shows you how to group items for pricing, promotional, or analytical purposes and by type, such as finished goods, raw material, component, and more. You learn how to quickly find information such as inventory quantity on hand, quantity available, quantity on back order, costs, and list prices, and where to drill down to transaction details. You learn how to manage multiple sites, multiple bins within sites, negative quantities, and lot/serial numbers. You see how Lot/Serial Number tracking is streamlined during inventory transaction entry. You will also learn how to simplify entry and reconciliation of physical inventory counts.
This course is intended for anyone who plans to implement, use, maintain, consult, or support any part of the Inventory and Order Processing series. The class is targeted toward administrators, office managers, CEOs, and consultants who need to understand the technical aspects of Inventory Control and gain foundational knowledge of the application functionality.
Before attending this course, students must have:
•General knowledge of Windows
•Knowledge of basic navigation functions in Microsoft Dynamics GP
•Completed Microsoft Dynamics GP General Ledger, Receivables Management, and/or Payables Management training
At Course Completion
After completing this course, students will be able to:
•Understand how Inventory Control module transactions integrate with other Microsoft Dynamics GP modules
•Define Inventory Control setup options that allow you to customize the system to better fit your organization's unique needs
•Use the Inventory Control module to process receipts, make adjustments to inventory, and transfer transactions
•Use Inventory Control inquiry screens and reports to extract and analyze appropriate information to maintain and improve inventory business processes
•Create and assemble kits
•Understand how maintenance screen options affect transactions in the Inventory Control module
•Process physical inventory transactions and record the results
•Document month-end processes and close the Inventory Control module
Module 1: Overview and Setup
This chapter introduces you to the Microsoft Dynamics GP Inventory Control module, and the screens and processes that are used to complete the accounting cycle in Inventory. This chapter focuses on the windows used to set up Inventory Control.
•Unit of Measure
Lab : Overview and Setup
•Inventory Control Setup
•Unit of Measure Schedule Setup
•Price Level Setup
•Price Group Setup
•Lot Category Setup
•Stock Calendar Setup
Module 2: Item and Pricing Setup
This chapter examines how to set up items and item pricing in Microsoft Dynamics GP Inventory Control. Item parameters are defined at the individual item level and optionally at the item class level. Since each item class typically contains many items, the amount of data entry work required to set up each item can be drastically reduced by defining the parameters at the item class level and then rolling down those options to each item in the class.
This training reviews all of the options that can be maintained at the item class and item number levels. Kit items are also examined, along with item quantities, item purchasing options, vendor and customer item options, item sites, item stock count cycles, and item price lists.
•Item Class Setup
•Item Price Lists
•Item Purchasing Options
•Item Vendors Maintenance
•Item Stock Count Cycles
•Customer Item Maintenance
Lab : Item and Pricing Setup
•Item Class Setup
•Item Price List
•Item Quantities/Sites Maintenance
•Item Site Default Bins
•Item Quantity Stock Count
•Item Purchasing Options
•Item Vendor Maintenance
Module 3: Daily Procedures
This chapter introduces the main Inventory Control transaction screens. An inventory transaction is processed whenever an inventory item's quantity or cost information changes. Through this training, you examine how to record issues and returns, adjust quantities and costs, and move items from site to site and bin to bin. You review the processes by which Inventory Control transactions are released to the General Ledger depending on your posting setup. You also examine the methods available for performing physical inventory counts, the steps involved in completing a full physical inventory, and the options available for selecting items to include in cycle counts.
•Transaction Entry Overview
•Inventory Batch Entry
•Adjustment and Variance Transactions
•Bin Transfer Entry
•Stock Count Scheduling
•Stock Count Entry
Lab : Daily Procedures
•Stock Count Schedule
•Stock Count Entry
Module 4: Editing and Removing Records
This chapter examines the process of editing records after they have been saved or posted. This includes making cost, valuation, and price adjustments to existing items in your system. This training addresses which records can be deleted and/or removed from the system if the user desires, along with the detail retention and deletion options that support this function. This training also reviews the inquiry screens and reports that support the Inventory Control module.
•Change and Delete Records
•Change Valuation Methods
•Change Decimal Places
•Price List Utilities
•Purge In-Transit Transfer
•Using Inquiry Windows
Module 5: Period-End Procedures
This chapter examines the process of closing an accounting period and the fiscal year for the Inventory Control module. The steps necessary to complete each phase of the closing process are discussed for both period and fiscal year-end close. The reports that should be printed before performing the closing process are reviewed. This chapter also examines what actually takes place during the closing process and the approaches that an organization may use for this process.
•Year-End Closing Procedures
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