Adding Current Item Quantities and Costs

This topic describes the steps you take to post the current item quantities and costs for each of your inventory items when you are setting up your Inventory Control system.

  • From your existing system, gather the amounts and costs for your items at each location.
  • On the G/L Integration screen's Integration tab:
    • Select On Request Using Create G/L Batch for the Create G/L Transactions option.
    • Clear (do not select) the Append G/L Transactions To Existing Batch option.
  • On the I/C Options screen's Processing tab, clear (do not select) the following options:
    • Keep Transaction History
    • Keep Item Statistics

To add current item quantities and costs:

  1. Use the I/C Receipts screen (available in the I/C Transaction folder) to add your current item quantities and costs to Inventory Control.

    Tip: You can also add item quantities and costs by importing receipts into Inventory Control from another Sage 300 Inventory Control system, or from a non-Sage 300 application.

  2. Use the I/C Day End Processing screen (available in the I/C Periodic Processing folder) to update your Inventory Control records.
  3. Print the Item Valuation report (available in the I/C Stock Control Reports folder) to check that the item quantities and costs you added match those on your source documents.

    Note: If you need to adjust the item quantities and costs you added, use the Adjustments screen in the I/C Transactions folder.

  4. Print the Receipts Posting Journal (available in the Price/Sales Analysis Reports folder), including the posted receipts and adjustments, if any.

    Compare the posting journal(s) to the Item Valuation report and your source documents.

  5. Use the Clear History screen (available in the Periodic Processing folder) to delete the printed posting journal(s) for receipts (and adjustments, if necessary). More...

    Select the Printed Posting Journals option, then select Receipts (and Adjustments, if you made any).

  6. Print the G/L Transactions report (available in the Price/Sales Analysis Reports folder), using the displayed posting sequence number.
  7. Use the Create G/L Batch screen (available in the I/C Transaction folder) to create general ledger transactions for the Inventory Control transactions you posted. (Use the displayed day-end number.)

    Compare the G/L Transactions report you printed earlier to your general ledger listing to be sure the totals balance.

  8. Delete the general ledger batches that you created.

    If you do not delete the batches, you risk posting them twice in your general ledger. More...

    If you use another general ledger, or if your Sage 300 General Ledger uses a different database than Inventory Control, open your General Ledger and import G/L batches. You can then delete the batches from the directory in which you keep your company’s Inventory Control data. (Delete the files that begin with the letters glic, and have the file name extension .csv.)

    If you have just set up your inventory control balances and need to delete General Ledger batches, follow the instructions in the General Ledger help for deleting a batch. (The batches from Inventory Control will appear as open General Ledger batches.)

    You must select the General Ledger option Allow Edit Of Imported Entries on the Posting tab of the G/L Options screen.

If you had to change options on the I/C Options screen or the I/C G/L Integration screen before entering item quantities and costs, you can now restore the settings as they were before you made the changes.