Quick Tips for adjusting and transferring inventory in Sage 50 CA

Do you need to adjust inventory? Did something get damaged? Or do you need to transfer an item to another location? We've got some handy Quick TIPS and resources for you below on how to handle common scenarios.

 

Handy tip #1: The Inventory summary report, shows inventory levels. To access it, go to the Reports menu > Inventory & Services > Summary…

You'll have the option to run the report by Asset or by Item. The data output will provide:

  • Item number
  • Description
  • Unit
  • Quantity on Hand
  • Cost Per Unit
  • Value On Hand

 

Handy tip #2: Has someone broken something? Need to adjust your inventory upwards or downwards? Visit the Adjust Inventory icon.

 

In this example, someone dropped a helmet, notice that the quantity column is reflecting this as a minus 1.

 

Note*: In FIFO you can't adjust unit costs but in Weighted Average you can.

 

The damaged inventory GL entry would look like below:

 

Handy Tip #3 on Transferring inventory from location to location:

*Note: If you're not seeing the Transfer Inventory icon on your Inventory & Services screen, then you maybe haven't set up the software to have multiple locations in Settings. Locations for inventory are only an option to be setup in Sage 50 editions: Premium and or Quantum.

When you click on the Transfer Inventory icon, you'll see a screen like the one below. Once here select the From location as well as the To location for the item's move. Then select which item and enter the quantity. Verify the final value (amount) of the transfer before clicking on the Post button.

   

Handy tip #4 - Reports for Inventory

  1. On the Inventory & Services module screen, select Inventory and Services List in the Reports section near the bottom right and click Create.

  2. Review the Inventory List and close the report window once done

  3. From the Inventory page, select the Report Centre icon in the Reports pane.
  4. Select the Price Lists report and click Create.

 

Handy Tip #5: Inventory transfer errors can be fixed by re-transferring items back. 

See tip #3 for steps.

Other Resources:

Inventory

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FR

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How to create an inventory item or service

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How to enter an Inventory Adjustment

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How to void or reverse an inventory adjustment?

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The Cost of Goods Sold Expense account is not showing the correct balance. Explanation of inventory variance.

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For more resources visit: Sage Product Support Resources for help with products in North America

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