SD-H  Inventory Defaults

Purpose of Program

Use this program to set your default inventory Location (plant or warehouse).  You can also set whether you want the Average Cost calculated with a running (weighted) average or via FIFO (first in, first out) or LIFO (last in, first out) or Standard when the program is first installed.  Once this costing method has been established, it can only be changed at IN-L-I  Change Costing Method

Field Explanations

Default Inventory Location

Even if you have a single inventory Location (plant or warehouse), it is good practice to give your Location a name.

Average, FIFO, LIFO or Standard Costing? [A,F,L,S]

This setting determines the method that will be used to calculate the inventory Average Cost field whenever inventory is increased with a purchase receipt or adjustment, and it determines the cost that will be used whenever inventory is issued or sold.  For a weighted, running average, enter an A.  For first-in-first-out (FIFO) costing, enter an F.  For last-in-first-out costing (LIFO), enter an L.  Standard (S) costing will process all transactions at Standard Cost and post variance to the accounts specified in AD-A  General Ledger Defaults.  Consult with your accountant as to which method is best for your company.  Once you have begun entering information, you can not change the method here but must instead use IN-L-I  Change Costing Method.

Disable record locking and stock status updates in IN-A, Inventory Inquiry?

IN-A  Inventory Inquiry contains a routine that updates the item's stock status fields (On Sales Order, On Purchase Order, etc.) each time an inquiry is made.  This update requires momentary locking of the item record which could disrupt its use in other programs.  If this update is not needed and you wish to keep record locking to a minimum, set this field to Y.

General Program Operation

Enter an inventory Location. If the Average, FIFO,LIFO, Standard Costing setting is blank, you may enter A, F, L or S.

When you finish making the entries, you will be asked if you want to save the record.  Press <Enter> to accept the Y default.  You may change the record by making any desired changes to any of the fields, then clicking on the Save button (or press F10) from any point on the screen to request a save.  Being a one record file, the screen will not clear itself after the record is saved.  Click on the Exit button (or press <Esc>) to return to the Manufacturing Defaults menu.