Receive History

Action: RETLHIST

This form allows for the review and entry of important data when inventory is manually created, modified or received via Stock Purchase Orders. There will be a entry created each time you receive or add items of a certain style, in a particular size, color, and width.

A operator with adequate security may change the quantities of a existing receive history record. ProfitSystem® will track this change in a Action Log as an audit trail.

Each time you receive via Stock PO or manually add inventory, ProfitSystem® will track the date, the total quantity received, along with the cost. Then as items are sold, ProfitSystem® removes items from inventory according to your inventory costing method, LIFO or FIFO (inventory costing is a General Setup option). With LIFO, the items received most recently are the first sold. With FIFO the oldest items are sold first.

ProfitSystem® uses this information to compute the average unit cost, which is used for the inventory value computation. For this reason, it’s important to either receive items via a stock PO, or manually create a receive history record when items are received. You can manually add receive history records by pressing the Add button. You would do this if you are not creating stock purchase orders but still want to track quantities received and costs. You can also edit receiving history entries. When you change a receiving history entry you will be prompted for a sales associate ID and the reason for the change. You will not be able to save the change without entering both the ID and the reason. This will then keep a log of all the changes that have been made to the receiving history for use in other reports such as the inventory movement report.

ProfitSystem© provides an editing option within the Purchase Order Maintenance module to Un-Receive a PO after it was previously received. When this function is preformed, a new RECEIVE History entry is created deducting the quantity being removed with the code: UN-RECV PO entered in the invoice number field.

Automatic Receive History entries are created in specific scenarios 1) Un-Receive POs 2) Manual store quantity edits in multi-store View Store QOH/Stats from 3) Rental quantity adjustments from Rental Sizes form 4) Physical inventory variances from Update physical count. Each is designed to synchronize on hand quantities.

Hints:

When creating a new SCW entry, you should always enter at least a size code. Even if the item does not come in sizes, use NA or NONE. A size, color or width code can only contain letters, numbers, and $, %, *, -, +, /. It cannot contain “, ‘,[ or ].

The WinTPS Rental Production Management software option cannot designate styles as a rentable style if the Size contains color or width. Size only is allowed!

Fields

Style/size/color/width...For the item received. Defaults to selected SCW unless the Add a new SCW was chosen.

Store ID..This is the store where the item was received, not where it is located.

Date received...The date you received this batch. As you enter receiving history entries, the current day’s date will be auto entered. If you update this to a date later than the date last received on the Retail Sizes and Retail Inventory form the date last received will updated on those two forms as well. Otherwise it will not.

Qty received...The total quantity that was received.

Qty left (on hand)...Out of the total quantity received, this is the quantity left on hand after sales, returns, etc. It is important that this number is accurate, since this number is used to compute inventory value.

PO number/item..From the PO that ordered this item.

Received by...The employee who received the items.

Invoice number...The invoice that the items were received on.

Unit cost...The unit cost for this item. It is important that this number is accurate, since this number is used to compute inventory value and to record cost of sales.

Buttons

Save... Save the sessions edits.

Cancel... Cancel / Discard this sessions edits.

Delete... Delete the selected history entry. Caution, data cannot be recalled.

Add... Adds a new SCW history entry for the selected SCW inventory item. The size, color and width defaults to the currently selected item. The quantity on hand is added to the register's store location performing the addition. The item(s) must be transferred to another store via the TRANSFER function OR the QOH manually modified via the Store QOH/Stats from (available with the ProfitSystem multi-store software option).

Done... Exit this form and display previous form.