Course Outline
Chapter 1: Overview
This chapter introduces you to the Inventory Control module of the Microsoft
Great Plains product and training course, and the screens and processes that are
used to complete the accounting cycle in Inventory.
It is important to note that this chapter is optional and can be skipped at
the instructor’s discretion if the instructor feels that each student’s
background provides sufficient experience in these topic areas.
Main Topics
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Course Description |
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Module Overview |
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Process Flow |
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Other Features |
After completing this chapter, students should be able to:
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Understand the goals of this course |
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See how the Inventory Control module fits into the suite of available modules
for the Great Plains system |
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Follow the flow of transactions through
Inventory |
Chapter 2: Setup Procedures
This chapter examines the setup options available in the Inventory Control
module. We introduce each of the required steps along with recommended options
for various business models. This chapter discusses each option in detail and
provides examples to better illustrate concepts.
Main Topics
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Procedures for Setting up Inventory Items |
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Item Classes |
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Unit of Measure |
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Price Levels |
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Prices Groups |
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Inventory Items |
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Price Lists |
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Inventory Quantities |
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Bins |
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Purchasing |
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Vendors |
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Kits |
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Lot Categories |
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Reports |
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Beginning Quantities |
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Stock Calendar |
Labs
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Inventory Setup |
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Unit of Measure Schedule Setup |
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Price Level, Price Group Setup |
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Lot Category Setup |
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Stock Calendar |
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Item Class Setup |
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Accounts Setup |
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Item Site Maintenance |
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Item Maintenance |
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Item Price List |
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Item Quantities/Site Maintenance |
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Item Site Default Bins |
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Item Quantity Stock Count |
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Item Purchasing Options Maintenance |
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Item Vendor, Customer Maintenance |
After completing this chapter, students should be able to:
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Personalize Inventory Management using the Inventory Setup
windows |
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Add Item Classes |
|
Set up items codes and characteristics to better track throughout the
system |
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Enter Beginning balances |
Chapter 3: Inventory Control Daily Procedures
This chapter introduces the main Inventory transaction screens. An inventory
transaction is processed whenever an inventory item’s quantity or cost
information changes. You gain an understanding of how Inventory transactions can
be used to record issues and returns, to adjust quantities and costs, and to
move items from site to site and bin to bin. You review the process by which
Inventory transactions are released to the General Ledger depending on your
posting setup. You also examine the methods for performing physical inventory
counts. You see how to complete a full physical inventory and the various
options available for selecting items to include in a cycle count.
Main Topics
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Inventory Batch Posting |
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Inventory Single Posting |
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Changing Quantity Types |
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Cost Variance Journals |
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Adjustment Transactions |
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Variance Transactions |
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Transfer Transactions |
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Stock Counts |
Labs
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Increase Adjustments |
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Variance Transaction |
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Transfer Transaction |
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Stock Count Schedule |
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Stock Count Entry |
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Multi Bin Adjustment/Transfers |
After completing this chapter, students should be able to:
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Differentiate between Batch posting and Transaction Posting |
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Different Methods of posting |
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Enter Inventory Transactions (posting to General Ledger), Inventory
Transfers, and Inventory Variances |
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Generate and Enter Stock Counts |
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Transfer items between Bins |
Chapter 4: Maintaining Records
This chapter discusses how to make cost, valuation, and price adjustments to
existing items in your system. You also see how to delete item records when
necessary.
You review a series of screens available for viewing inventory item balances
and easily drilling down to the transaction details. The Inquiry screens allow
you to quickly view item information without having to print reports. You also
discuss the Inventory detail retention and deletion options.
Main Topics
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Change and Delete Records |
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Change Valuation Methods |
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Change Decimal Places |
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Adjust Costs |
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Remove History |
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Remove Bins |
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Reconcile |
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Price List Utilities |
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Item Inquiries |
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Creating/Printing Inventor Reports |
After completing this chapter, students should be able to:
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Change Valuation Methods, Costs, and Prices of existing items |
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Remove Bins |
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Delete Item records |
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Remove Historical Data |
Chapter 5: Period-End Procedures
This chapter examines the process of closing an accounting period and the
fiscal year for the Inventory Control module. The steps necessary to complete
each phase of the closing process is discussed for the end of a period as well
as a fiscal year. You look at the reports that should be printed before
performing the closing process. Time is spent examining what actually takes
place during the closing process and approaches that an organization may use for
this process.
Main Topics
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Period-end Checklist |
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Printing Reports |
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Completing ABC Analysis |
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Closing the Fiscal Period |
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Year-end Closing |
After completing this chapter, students should be able to:
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Complete the processes that are performed at the end of an accounting
period |
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Complete the processes that performed at the end of a fiscal
year |
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Perform the Year-end closing process for Inventory
Control |
Chapter 6: Conclusion
This chapter discusses the key points covered in this course.
Main Topics
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How to enter an item, including setting up item options, assigning price
levels, assigning vendors, configuring purchasing options and assigning
customer-specific item information |
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How to enter an item class and where they can be used to speed data entry,
facilitate reports and inquiry and as ranges in SmartList views |
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How to set up an inventory site and assign items to it |
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How to enter an Inventory Increase and Decrease Adjustment |
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How to enter an Inventory Variance Transaction |
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How to transfer items between sites |
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How to prepare a Stock Count Schedule and enter actual quantities from a
physical count |
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How to assign an ABC status to your items using values or
quantities |
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How to run Pricing Utilities to adjust your prices on multiple
items |
Appendix A: SmartList
This appendix discusses the use of SmartList to access financial data. There
are also optional exercises that can be completed by students if time
permits.
Main Topics
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Using SmartLists |
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Creating Objects |
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Using the Search Button |
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Saving New Objects as Favorites |
Labs
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Create a SmartList Account Inquiry |
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Save the query as a Favorite |
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Create a SmartList Account Transaction Inquiry |
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Create a SmartList Account Summary Inquiry |
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Create a SmartList Multidimensional Analysis Inquiry |
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Export Information to Microsoft Excel |
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Print Reports |
After completing this appendix, students should be able to:
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Use SmartLists to access valuable sales data |
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Create new SmartList objects |
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Use the Search button to manage the information in a view |
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Explain the various options that are available when using
SmartLists |
Appendix B: Case Study
This case study is a comprehensive lab that can be used to reinforce the
learning that has occurred throughout the Inventory Control class.
Main Topics
|
Inventory Control Setup |
|
Inventory Control Document Entry |
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Printing Inventory Control Documents |
After completing this appendix, students should be able to:
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Understand the necessary processes to set up and manage their Inventory
Control module |
|
Have more confidence in their ability to use Inventory Control in their
company |
Appendix C: Test Your Knowledge
This appendix contains short answer and True or False questions that may be
used as a review of the information covered in this course and may be used as
time permits. Answers to all questions are provided at the end of the
section.
