Join Renato Bellu for an in-depth discussion in this video Entering an inventory adjustment, part of Up and Running with Dynamics GP.
- We're going to take a look at inventory transactions.…We'll go to the inventory series…and select transaction entry.…There are two types of documents you can create…in Dynamics GP for item transaction entry.…There are adjustments and variances.…People often get confused about what the difference is here.…The most important thing to keep in mind…is what general ledger accounts are going to get affected…when you post these transactions.…That's the main difference here.…Both adjustments and variances…can move up or down the quantity…of your inventory items, but they will map to different…GL accounts depending on how your item is set up.…
Let's look at an inventory item card…and see how it's set up.…I'm going to select an item called the two gig processor,…and go to the accounts button.…Variances will be mapped to the variance account.…In this case, we're hitting account…40700, shrinkage, and waste.…There is no account called adjustment.…You just need to know that adjustments always map…to the inventory offset account.…
- Using the SmartList to extract data from Dynamics GP
- Controlling the behavior of the GP by mastering the posting setup window
- Grasping the chart of accounts format
- Entering and posting general ledger journal entries
- Entering accounts payable vouchers and accounts receivable transactions, such as credit memos
- Setting up new inventory items and running stock status reports
- Understanding the ins and outs of the bank reconciliation module
- Creating new companies
- Uploading budgets into Dynamics GP from Microsoft Excel
- Entering sales orders and billing your customers
- Managing inventory price lists
Skill Level Intermediate
Q: Which versions of Dynamics GP does this cover?
A: We cover the latest installed version of Dynamics GP. This course doesn't cover the web-based version of Dynamics GP explicitly, although you may find there are similarities.