Since Acctivate allows users to sell into the negative, occasionally it may be necessary to review your inventory to locate products that have a negative quantity on hand and correct them by making adjustments. This article will discuss how to use Acctivate reports and the Business Alerts feature to locate any products that have a negative on hand quantity, as well as how to make an adjustment to bring the quantity out of the negative.
Finding Products Sold into the Negative
There are two different methods in which users can locate products in Acctivate with a negative on hand quantity. Users can run a report to find a printable list of products, or use the Business Alerts Reorders feature to quickly gather and sort this list. Both methods will be discussed below.
Option 1: Reporting
The Stock on Hand Report can be configured to add a “QtyOnHand” field as a selection prompt, which can then be used as a filter (where QtyOnHand is less than zero). To set up this new selection prompt on the Stock on Hand report:
- Go to File > Configuration Management > Reports > Report Catalog, then locate the Stock on Hand report in the Warehouse folder under Inventory. Click the Edit button near the top left corner of the window.
- Click on the Selection Prompts tab on the right side of the Report Catalog window. You should see the three default selection prompts: Product ID, Warehouse, and Product Class. Click the browse button […] to open the list of available selection prompts for this report.
- A new window will appear with a list of three data views: Product, ProductClass, and ProductWarehouseSummary. Under ProductWarehouseSummary, scroll down to the QtyOnHand field and click the Select button after highlighting the field. Save the changes made to the Report Catalog, then close the Configuration Management window.
- Now you can pull up the Stock on Hand report using the new QtyOnHand filter. To do this, go to Inventory > Inventory Reports > Warehouse > Stock on Hand. In the Report Selection Criteria window, select the Less Than filter for the new QtyOnHand field added above, the click Preview.
The above report will return a full list of products in all warehouses that have a negative on hand quantity.
Option 2: Business Alerts – Reorders
Another way to quickly determine which products have a negative on hand quantity is to use the Business Alerts feature. In the Business Alerts window, the Reorders tab will display information about current stock levels, costs and vendor information. To display this window:
- Go to Alerts > Business Alerts in the Acctivate menu at the top of the screen, or click the Alerts button on the toolbar.
- In the Business Alerts window, click on the Reorders tab. You will see several fields in this tab, all of which can be customized by changing the column order and sorting the data.
- To quickly return a list of products with negative on hand quantities, click and drag the On Hand column and place it closer to the Product ID column.
- Once you have moved the On Hand quantity column, click on the column name to sort your product list by ascending on hand quantity. After sorting this field, any products with a negative on hand quantity will appear at the top of the list, along with other useful information about the warehouse, suggested quantity, how many are currently ordered, and suggested cost based on previous transactions.
Using Adjustment Transactions to Correct Negative On Hand Quantities
Once you have returned a list of products with negative on hand quantities, you may want to post an adjustment to set the quantity back to 0. This can be accomplished using the Inventory Balance Adjustment in Acctivate (See note after Step 3 for regular Inventory Adjustment information).
- To create a new Inventory Balance Adjustment, go to Inventory > Inventory Balance Adjustment. In the Inventory Balance Adjustment window, click New and select a warehouse.
- Add a product with a negative on hand quantity to the Balance Adjustment by entering the product ID or using the product lookup window to search. To set the quantity on hand to 0, enter 0 in the quantity field, then click Save and Post.
- To confirm the adjustment was successful, open the Product window and review the On Hand quantity. If the Balance Adjustment was posted as of today’s date, your On Hand quantity should match the quantity of the adjustment transaction.
Note: You can also post an inventory adjustment to set the quantity on hand to 0. Instead of assigning the quantity as 0 like in a balance adjustment, you will need to manually add the negative amount to the adjustment. The same transaction above would appear like this in an Inventory Adjustment:
Inventory adjustments will use the Adjustment General Ledger account for a specific warehouse, while balance adjustments use the Gain/Loss General Ledger account for that warehouse. To verify which accounts are assigned, go to File > Configuration Management > Inventory > Warehouse.