Inventory Control
Introduction
When Inventory is enabled at Configuration > Instance Settings, Aqilla maintains stock information against each item, which is stored in a separate Inventory table. Like the Ledger, the customer may configure a number of user attributes to hold additional information specific to their organisation’s requirements.
Locations
Aqilla uses the concept of a Location to identify separate stock holdings, which might typically correspond to separate warehouses. Receipts and Issues are always recorded into or out of a specified Location.
A location is normally defined on the header a document but it is also possible to configure the location against the individual document line of sales invoices, purchase invoices and purchase orders. If you are using location by line, then a default location can also be specified against an item.
If only one location is in use, the system default location can be used, without having to specify to a location.
Inventory can be received into stock using:
Inventory Receipts
Goods Receipts (if Purchase Orders are being used )
Purchase Invoices
Purchase Invoice Matching (if Purchase Orders are being used without Goods Receipts)
If an item is being inventory controlled, a small icon is displayed against the item line. In the example below the item is inventory controlled.
Items may be received into stock in a different unit of measure to the stocked unit of measure. The quantity received will be automatically converted to the equivalent stocked quantity. Inventory can be issued from stock using:
Inventory Issues
Sales Invoices Products (single & multi currency)
Sales Invoices Services
Items may be issued from stock in a different unit of measure to the stocked unit of measure. The quantity issued will be automatically converted to the equivalent stocked quantity.
When a stock issue document is fully posted, the stock issue transaction is created and automatically matched against one or more receipt transactions in the same location. This is done either automatically on a FIFO or LIFO basis or by manual selection, according to the setting for the item being issued. The matching process brings across information from the receipt transaction including cost details, and other attributes such as colour, style, batch number, etc.
If an item is being inventory controlled, a small icon is displayed against the item line. The icon will indicate whether the item will be automatically matched or require manual allocation. In the example below the second item is inventory controlled and requires manual allocation.
When inventory is manually allocated, it becomes reserved to the document. Until the document is posted, it is possible to de-allocate the stock and allocate it to another document.
Transfers
Inventory may be transferred between locations using the Inventory Transfer document. This performs the equivalent of an issue from the source location and a receipt into the target location.
Costing Methods
The following costing methods are supported:
Standard - the cost is held against the item record.
Average - the cost is calculated as the average of the items in stock.
Latest - the cost is calculated as the most recent cost, by transaction date, of the item.
Actual - the cost of the receipt transactions is applied to the issue transactions. Depending on the item’s Matching Method this may be using FIFO, LIFO, or Manually selected.