This guide summarizes the modules associated with inventory. It is intended for general users.
Line Item Codes
Line item codes (LICs) are the items and services you buy and sell. There are seven LIC record types. Each has specific characteristics and attributes and each functions differently within the system.
Inventory Transactions
This module tracks exchanges which record all of the stock movements that occur when goods are ordered, received, purchased, produced, sold, and shipped.
Inventory Lots
Inventory Lots are created when items are purchased or produced. The Cost of Goods Sold Reconciliation process determines how costs are applied based on LIFO/FIFO logic (last in, first out / first in, first out).
Inventory Usage
Inventory Usage displays a list of each individual transaction for a given inventory item.
Inventory Adjustments
This module helps users record adjustments to inventory balances or log transfers from one location to another.