PO/Inventory Receipt Processing.

The StreamV PO/Inventory Receiving program allows you to quickly receive the items for a specific purchase order, or to receive inventory that is not associated with a purchase order.

If a purchase order receipt is being processed, the receiving program automatically loads the open items and quantities for the specified purchase order into the program.  At that point, the operator can identify the items being received and verify or correct the price for each purchase order line (this option can be restricted by operator).

If the receipt being processed is not associated with a purchase order generated on the system, the receiving program allows the operator to select the vendor that the items are being received from and to enter the items, quantities and prices being received.

As each purchase order or inventory receipt is processed, the system automatically

•      Creates inventory transaction records to record the transaction and document the vendor price, the internal cost for the transaction and the old and new average cost for the item.

•      Re-calculates and updates the average cost of the item being received in all warehouse locations in the current division. 

•      Posts the value of the receipt to the Inventory Control Account  and the Unvouchered Liability Account in the General Ledger.

•      Allocates the just received inventory items and quantities to any sales or shop orders that are waiting for the items.

More:

Adding Supplemental Costs during Receiving