The “Inventory Location” and “Inventory Transfer” within location is an AWESOME update of Manager.
Now, I have a specific need.
I have two inventory location under Principal Office. Location A & Location B.
I have other Branch Office countrywide.
When I purchase & send inventory directly to Branch Office directly from Principal Office, I make entry in both office according to inter-branch accounting.
Now, I need to send inventory from Location B (Principal Office) to Branch Office.
Normally, I make the following journal entry if there is only one location.
Credit > Inventory > Item > Qty > Value Debit > Branch Office Account> Value
But, recently I have two location.
And I made the same entry as above. The Branch Account is debited. It’s OK.
But, the inventory on hand doesn’t change and shoes transferred qty on Unspecified location.
I think, there should be an option to select “Location” when journal entry involves inventory item.
I would like to draw @lubos’s attention.
Now, I am following an alternative method. for this transaction.
I just write of inventory, select location and allocate to the Branch Office Account.
It does the work and it’s easier than journal entry.
Do you use the Inventory Transfer Tab? With the inventory tab you can select as many inventory items as possible to transfer and select a from and to locations for the transaction.
Don’t use the journal for inventory inter locations transfers.
If you have to write inventory off, you will have to use the inventory write off which also shows location.
I can hardly think if anything you would use the journal for with inventory involved.
@Abu_Hasan, you haven’t given enough information to know what is going on. Are you running the branch office as a separate business? If so, you are going to have to buy and sell to/from the principal/branch offices.
If not, just make transfers. There is no reason you can’t have several locations at the principal office (or a branch). Manager doesn’t care where the locations are physically. They are just accounting conventions.
And unless I completely misunderstand you, @Abeiku is right. There is no need for journal entries.
The Inventory Transfer tab only works for Inventory locations within the business.
In this case the “Branch Office” is not an Inventory location within the business based on the comment “I make entries in both offices according to inter-branch accounting”
Therefore I am assuming that the Branch Office has been setup as a separate business and the inventory is being transferred via the “inter-branch current accounts”.
This is a very suitable workaround as you are writing the inventory “out” (off) of that location.
Moving Inventory between “related” locations is not a buy /sell function - even within related business units. That is the function of “inter business current accounts” being used correctly above otherwise you need to get into the more messy involvement of doing inter-business transaction elimination accounting.
Believe me, it is much easier at any point in time to do current account eliminations then the need to track and eliminated the impact of inter-business transactions.
Once Manager has consolidation capabilities, then these issues wont arise as you will be able to put one entry (debit) in business A and one entry (credit) in business B.
@Brucanna is right. Principal Office & Branch Office is separate business.
And, we do not sell inventory. We sell service that involves lots of inventory.
Once Manager has consolidation capabilities, then these issues wont arise as you will be able to put one entry (debit) in business A and one entry (credit) in business B.
There are other types of inter-branch transaction occur regularly.
So, it would be amazing if we can record transaction between business more interactively.
when using Inventory Transfer all inventory items appears to make a transfer from stock A to Stock B, except the inventory kits, and its is taking time doing it item by item.
Is there any solution to solve this problem or its on the road map.
I know they are not inventory items but there are made of several inventory items,so when when i need to transfer an inventory kits from stock A to Stock B its taking much time doing it item by item instead of choosing the Kit and it will fill the blanks automatically.
Therefore you should also know that Inventory Kits can’t be transferred as the Inventory Transfer tab can only transfer actual Inventory Items.
The Inventory Transfer tab allows multiple of Inventory Items to be transferred within the one transaction, you don’t need to do one Inventory Item at a time.
