We’ll begin the class with a brief demonstration of new Inventory Control features of GP 2013, then move on to the math of how inventory is valued using each method. This is crucial to understanding how your inventory should be reconciled to the General Ledger. Next, we’ll perform stock counts and share best practices of stock counts with each other. We’ll discuss how damaged goods affect inventory and values, experiment with various options for dealing with damaged goods (including In-transit Transfers and Purchase Order Processing Returns). Then it’s time for the main event, comparing our inventory value to the values in the General Ledger. Finally, we’ll review available reporting and inquiries to help make this process easier. We will be using GP 2013 for training, but do not worry, there will still be HUGE VALUE in the class for you and highly applicable to your current situation.
This class will focus on Inventory - you'll be provided tools and information on how to validate and support inventory values. We'll review how using Sales Order Processing and Purchase Order Processing affect the quantity and value of Inventory. It's a perfect fit for someone who manages Inventory.
If you'd like a reference book for this class, Belinda recommends Inventory Control Techniques, from Accolade Publications. Use coupon code APDC20 to receive a 20% discount!
- Understand Valuation Methods & Costs
- Understand how to correctly use Stock Counts
- Give you a game plan (if you do not already have one) for handling "Damaged Goods" using In-Transit Transfers and POP Returns
- Reconciling your Inventory Value to the General Ledger
- Review available Reports and Inquiries
Instructor: Belinda Allen, Smith & Allen Consulting, Inc.
Audience: This class is for Inventory Managers and General Ledger users who assist in Inventory Reconciliation to the General Ledger
You must know how to:
- Create an item
- Creat Inventory Transactions and Transfers
- Understand Inventory Setup
Preparation: The detailed instructions for connecting and attending the class will be sent one to two days prior to class. Students have the option of connecting to the class via conference call or VOIP. If using VOIP, a headset with a microphone is strongly recommended. If your instructor will use the hands-on training environment you will receive a separate email with the setup instructions, and a dual monitor is strongly recommended to facilitate navigation.
Delivery Method: Group Internet-based
CPE Credits: By participating in this class you are eligible to earn up to 5 CPE credits. You must request CPE credit via the class survey, which will be distributed after class. The survey will be open for 30 days, after which it will be closed and you will not be able to request credit. Your CPE certificate will be sent via email approximately 2 weeks after the survey is closed. Class participation will be monitored and you will not receive CPE credit for any portion of the class that you do not appear fully engaged.
The GPUG Academy offers the unique ability to learn from recognized experts while sitting at your own desk. Most classes leverage an instructor-led learning environment coupled with hands-on training. You can practice the content and apply the curriculum immediately, instead of just watching. Classes are conducted with a combination of a conference call/VOIP, and a remote desktop connection. If your instructor uses this environment, the detailed instructions for connecting and attending the class will be sent a day prior to class. Because of the advanced setup required, if you register the day of the class, you may experience a delay getting connected and starting the class. We will strive to get you connected to the class as quickly as we can.
Note: Preview Members are not eligible for the Premium Member discount.
To maintain an optimal training environment, each person attending the class is required to register separately. If more than one attendee per registration participates, their organization will be billed for the additional attendees. With registration, you agree to the terms related to Distance Learning classes as included here. Instructor and/or agenda are subject to change.