How do I set up Inventory for a new company?

Fill the company's Inventory Control Setting, then sites and warehouses, then make sure every journal carries its movements and every movement has accounts in the posting profile. Quality and aging come last.

Screen

Inventory Control Setting, Site, Warehouse, Movement, and the journals and posting profile in General ledger

Who

The implementation consultant

Takes effect

On Save of each setup screen

Needs first

The company, its financial year and its chart of accounts

Before you start

• The company and its fiscal calendar exist: see Company and Financial Year.
• Items exist with their storage structure, tracking structure, valuation and item posting group: see Storage Structure, Tracking Structure, Item Valuation and Item In Legal Entity.

Steps

1. Open Inventory Control Setting and create the company's record. Tick the line columns the client uses, name the Closing Journal and, if quality is used, the two inspection journals.
2. Open Site and create each site, with an address purpose on every address. Tick Use in Reservation where stock may be reserved.
3. Open Warehouse and create each warehouse under its site. For transfer orders, give the source warehouses type S and an in-transit warehouse. For subcontracting, add a warehouse for vendor.
4. Check the Movement list. Add only the movements the client needs to see apart (a separate write-off for breakage), with Reason Required where it matters.
5. In General ledger, check each Inventory journal carries its movements, and give Inventory Movement and Item Revaluation journals an offset account per movement.
6. In General ledger, fill the inventory posting profile: per post key of each Inventory screen, per movement and item posting group, the account (optionally per warehouse).
7. For quality: Inspection, Sampling Instruction, Inspection Group, then Quality Point.
8. Optional: Inventory Aging Period, Gate Pass Category, Packages.

Check it worked

• A test Inventory Adjustment adding one unit saves and its Open voucher shows two accounts. Reverse it afterwards.

If something looks wrong

• "Account is not configured in Posting Profile ... against Post Key ..." - step 6 is missing a line for that movement and item posting group.
• "Please Configure Journal properly, Cannot find movement of ..." - step 5: the journal does not carry the movement.
• "Line ID: 1 - Define purpose of the given address." - step 2.

Related

• How stock documents work - what the setup feeds.
• Bring in opening stock - the next step.
• Set up a new company - where inventory fits in the setup order.