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Hi
I need your help with the following situation.
1) On 4/4/2022 we transferred some items from Location C to Location D. We used Item Reclassification Journal.
2) On 4/6/2022 Location D told us some of above items (for a few reasons) need to be removed from inventory.
3) Our accounting asked us to make above transaction through Item Journal but use 3/31/2022 (for some accounting reason).
My question is since we transferred items to Location D on 4/6 can we take them out using 3/31 date without any issue? If not what is the method to make 3/31 transaction happen.
Thanks
Thanks Mr Inge
you have provided lots of free support and training so far. I appreciate your help and support. I will test this in Sandbox. But I have learned a lot today. Thank you so much.
Thanks again
Yes the procedure you describe should work. If not i owe you free support on this one until solved
And yes it is simply because you would have no availability on location D on the 31st so that will bring your inventory negative on that date.
Having it in inventory on both the 31st and the 4th in location C should allow you to post on the 31st.
We could of course simulate this in a sandbox first to make sure.
Thanks Inge
Just to make sure I am following your guideline
1) I create Item Reclassification Journal for all these items From Location D to Location C
2) The posting date for this transaction is 4/4
3) Then I can post Item Journal for these items on 3/31 from Location C.
Just an educational question for training purposes
What makes this transaction different the transaction from C to D on 4/4? I mean from item availability standpoint on 3/31? Since this new transaction date item on 4/4 in location C it is similar to other transaction? Is this because these parts were available here before or ...? Thanks
You just register a new item reclassification journal where you move them back from location D to location C on the 4th.
Then they will be available on location C also on the 31st, So if you want to adjust them you can then adjust them on location C on the 31st.
Thanks Inge
We had those parts on 3/31 in location C. Then moved them to location D on 4/4.
Accounting thinks since we received these parts on March (Location C) then we should remove them also on March. This way they can report it for March and Q1.
I do not know how to reverse "Item Reclassification Journal" transaction. Is it any method available? If I can truly reverse this transaction (meaning all items goes back to Location C and be available on 3/31 for transaction) that will solve my problem
Any solution to truly reverse "Item Reclassification Journal"?
Thanks
If you did not have the items physically in inventory on the 31st of March then you should ask your accountants why they want you to post on that date. If the transaction on the 4th of april was posted with incorrect date that you should reverse that transaction and post it on the correct date. If it is a small amount you are talking about it should not be a big issue to not post it back to the 31st.
And i agree with Kim that bringing inventory to negative is never a good option even though you could reevaluate if necessary. So avoid that if you can.
If you have it in inventory today and it was negative on the 31st then the qty in your inventory will be correct today.
Negative inventory should not prevent you from closing the inventory period.
Hi Inge
Thanks for info.
Items are available in inventory right now (4/8). But today If I want to post them on 3/31 then we did not have them on that date.
If I set the negative inventory to yes and post then what is going to happen into inventory? I mean does it go to negative on 3/31 but since we have inventory on 4/6 then adjust to zero?
Also, can I close inventory period since inventory went to negative on 3/31?
Thanks
I think that depends on two things. Are the items set up with "prevent negative inventory" = yes and you do not have available inventory on the 31st of March then i think you will be unable to adjust your inventory.
If "prevent negative inventory" = no or you anyway have available inventory on your posting date you should be good to go.
I think you could temporarily set the "prevent negative inventory" = false if you really want to force the transaction on a specific date and then you can set it back to yes once you have posted. But i have not tried that in my sandbox yet.
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