About the Product Inventory Ledger Entries Form

The Product Inventory Ledger Entries form records the details of each inventory transaction not related to orders. Such transactions include inventory purchases, adjustments, transfers, and batches.

Attachments Tab

The Attachments tab lists any files relevant to the Product Inventory Ledger Entries record.

General Tab

Product Inv. Ledger (Required)

The product inventory ledger. This field links to the Product Inventory Ledger service.

Original PILE

The record ID number of the product inventory ledger entry (PILE) this record is referencing for adjustment purposes. By referencing an original PILE, errors in another Product Inventory Ledger Entries record can be reversed since Product Inventory Ledger Entries records cannot be modified once they are saved. Note that this can only be modified for new records.

Description (Required)

A brief description of the inventory entry is stored in the Description field.

Date (Required)

The Date field contains the date of inventory transaction. The default date is the current date. This field cannot be modified once the record has been saved.

Type (Required)

The Type field represents the type of inventory transaction recorded. The following types are supported:

• Purchase: Corresponds to adding units to an inventory location. This is the default value. See Adding Product Inventory for more information.
• Adjustment: Removes units from a location for adjustment purposes, such as if changing the unit cost of units that were previously added. See Adjusting Unit Cost and Returning Goods to Vendors for information on processes that involve adjustment PILEs.
• Transfer: Moves units from one location to another. See Transferring Inventory Between Locations for information on transferring inventory between locations.
• Batch: Removes units from the PILE. These PILEs are created automatically by the Order Batch wizard at the time that the corresponding Orders records are batched. See Batching Orders, Payments, and Scheduled Transactions for information on order general ledger (GL) batches.

The default value is Purchase. This field cannot be modified once the record has been saved.

Quantity (Required)

The Quantity field is the quantity of the product involved in this inventory transaction. This field cannot be modified once the record has been saved.

Unit Cost (Required)

The Unit Cost field defines the cost per unit of the product. The value entered here is used in the calculation of costs of goods sold (COGS). This field cannot be modified once the record has been saved.

Currency Type (Required)

The currency in which the cost amount is expressed.This field links to the Currency Types service.

Quantity Balance (read-only)

This number is the Quantity On Hand minus the quantity that has been shipped and batched. The system uses this field in conjunction with historical cost data to maintain a log of historical average costs.

Entry Qty Balance (read-only)

This field is used strictly by the system for FIFO/LIFO Cost Of Goods Sold calculations and has no relevance to actual inventory balances. This field is updated when orders containing FIFO or LIFO products are shipped.

Product Inventory Ledger Entries Tab

This tab displays the Product Inventory Ledger Entries records for which the current record appears in the Original PILE field.

Product Inventory Ledger Entry Transactions Tab

This tab links a Scheduled Transactions record with its associated PILE.