This topic presents an overview of transaction processing in Inventory Control.
For an introduction to each type of transaction you can process, see the following topics:
You use I/C Transactions screens to enter and post transactions in Inventory Control.
You can choose whether to post each transaction when you enter it, or save transactions after entering them for later editing or posting (using the I/C Post Transactions screen).
When you post a transaction, the program immediately updates item quantities, so you always know your inventory levels. This is especially important when you are using Order Entry and need to know whether an item is in stock.
As well as posting transactions to the current session date and reporting period, you can post them to past or future dates and reporting periods.
Note: Posting does not update accounting and statistical information; those procedures are performed by Day End Processing.
Depending on your program settings, posting also updates the cost of goods in stock and the cost of goods sold.
Note: You specify on the I/C Options screen whether Inventory Control calculates inventory costs when you post transactions or when you run Day End Processing.
If you have a large transaction volume, we suggest that you cost items during Day End Processing.
You must run Day End Processing to update item and sales statistics, audit information, and to generate general ledger transactions.
If necessary, you can run Day End Processing several times a day to update this information frequently.
To view your audit trail for transactions, print the posting journal for the type of transaction you want, after running Day End Processing.
If the Keep Transaction History option is turned on in the I/C Options screen, Inventory Control keeps a copy of the audit trail information that is printed on the posting journal. You can then print the Transaction History report to list audit trail information that you may have cleared from the posting journal.