Inventory Transfer

By |2021-07-09T00:39:32-05:00September 30th, 2020|Comments Off on Inventory Transfer

Inventory Transfer Form

Usage

This form is primarily used to transfer inventory items from a location (such as your warehouse) to a job. This action will reduce inventory and increase the cost of goods sold (COGS) for the items you transfer.

When you transfer items to a job using this form, you will NOT want to add those items to an invoice. That action would double your costs.

Normally you must create an invoice to recognize COGS for Inventory and Serialized item types. However, you have a job that incurs considerable costs before you are ready to create an invoice. This form allows you to recognize costs, as inventory items leave your building, without an invoice.

You might use this form when you have an ongoing job and wish to keep your financial and job costing report timely without waiting to create an invoice.

This form has three possible actions. Each of these is covered in detail below.

  1. Warehouse Transfer
  2. Transfer Ownership
  3. Return Inventory

Field Definitions

Date: This is the date that your financials will be affected.
Type of Action: This adjusts the form so that it can do one of three things covered below.
Customer:Job (if shown): The customer or job that will be affected by this transfer.
Department: The department affected by the transfer.
Memo: Always enter a memo. Explain what the transfer is intended to do or accomplish.
Auto Fill Down: If you make a warehouse selection here, those selections will be used on each item you add to the grid. You can always change the grid selection.
Item: Use this to enter or select an item to add to the grid. The only items types you will see are Inventory Parts and Serialized.
Qty: The quantity of the item you plan to move. This is usually a positive number.
Purchase Description: This is the purchase description already given to the item. It cannot be edited on this form.
Cost Each: This is the calculated cost of the item. It cannot be edited on this form.
Total Cost: This is Cost Each multiplied by the Qty field.
From Warehouse: This is the location you are moving the item from.
To Warehouse: This is the location you are moving the item to.

Warehouse Transfer

This form is typically used to transfer parts from one location to another location. Example: Move a part from Main Warehouse to Truck 1.

This form can also be used to adjust quantity on-hand. A negative number increases the number of items on-hand. A positive number decreases the number of items on-hand.

Note: This form will create an Item Adjustment which can be seen in the item adjustment lists.

Transfer Ownership

This form is typically used to transfer ownership of inventory from the company to the client. That action will reduce (credit) inventory and increase (debit) Cost of Goods Sold for the selected job.

This form can also be used to adjust quantity on-hand. A negative number increases the number of items on-hand. A positive number decreases the number of items on-hand.

Return Inventory

This form is typically used to return items to stock (transfer ownership of inventory from the client to the company). That action will increase (debit) inventory and decrease (credit) Cost of Goods Sold for the selected job.

This form can also be used to adjust quantity on-hand. A negative number increases the number of items on-hand. A positive number decreases the number of items on-hand.

Tips

  1. When doing a Transfer of Ownership or a Return, this form will create an Item Adjustment which can be seen in the Item Adjustment form.
  2. Use the Item Lookup form to quickly add items to the grid.
  3. The Item Lookup form includes a bar code scanning mode that makes data entry much faster. Be sure to give it a try.
  4. Inventory Parts and Serialized are the only item types this form deals with. That is because there are the only item types that technically have a physical existence.

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About the Author:

HVAC Electrical Plumbing Software

Aptora delivers a true All-In-One services software solution including CRM, accounting, payroll, inventory, vendors, sales, marketing, dispatch, flat rate pricing, and more. NO 3rd party plugins or integrations required. Created by contractors for contractors, we know what it takes to grow your services-based businesses.

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