Inventory with Accounts Payable and Receipt of Goods

When inventory is received and recorded in the Receipt of Goods module, the system will update the status of items “On Order” to indicate quantities that are now “On Hand.”

System Settings

The Inventory Control tab of Company FM Settings contains two new fields that allow you to specify a default reason when an Accounts Payable Invoice entry or void is adjusted.

Both fields—A/P Invoice Entry Adjustment Reason and A/P Void Invoice Adjustment Reason—are populated with the values in Validation Set 244 (Receipt Adjustment Reason). If either field is left blank, the system will issue a warning message to tell the user that the adjustment will not be generated for Accounts Payable invoices if no reason is specified. These two settings are also included in the listing of the system settings.

Receipt of Goods

Financial Management > Receipt of Goods

If your organization licenses Inventory Control, items being receipted in that are associated to an inventory order transaction will result in the system’s creating an inventory receipt transaction.

When entering a receipt, if a Vendor is selected for whom purchase request items fulfill an inventory order, the icon will display in the first column. Clicking the icon will open the Inventory Order pop-up page and display details about the inventory order that this item helps satisfy.