Inventory FAQs
Commonly asked questions about inventory.
How do I receive reduced-price or free goods?
Order or receive free, reduced-price items for accurate quantity and cost tracking on your purchase order or receipt:
- Enter the item ID and quantity that is being ordered or received at the regular cost. Enter the normal cost in the Cost field.
- On a separate line, enter the item ID and the quantity that is free or a reduced cost.
- Enter cost as $0 or the reduced cost.
- Change the SP (special price) field to Yes.
- Confirm receipt totals match your vendor invoice and click Post.
These steps will retain the vendor cost (regular cost), and not use the special price to recalculate your client cost when items are set to auto-calculate. Special pricing is used to calculate new average cost.
How can I indicate a vendor credit or discount on my inventory receipt?
Reflect vendor credits or discounts on your inventory receipt without impacting costs for received items.
Before you start: Setup an inventory item that can be used for vendor credits and discounts. The item cannot be set to maintain quantity on hand, but must have the inventory type selected during setup.
Apply rebates, vendor credits or discounts to an inventory receipt:
- Enter the items to be received from the order, on an inventory receipt.
- On a separate line, enter the item ID of credit/discount code, with a quantity of one.
- Enter the credit/discount amount as a negative value in the cost field.
- Optional: Enter a reason for the discount in the notepad icon.
- Confirm receipt totals match your vendor invoice and Post.
Note: If no other items need to be received, create an inventory receipt for only the rebate item.
How do I remove expired products from my Cornerstone inventory?
There are multiple features that can be used to manage expire products. Which feature used will depend on how your vendor manages expired products with your practice.
Before you start, setup the following:
- Inventory item that can be used for vendor credits and discounts. The item cannot be set to maintain quantity on hand, but must have the inventory type selected during setup.
- Cost center for expired products or donations: Inventory > Cost Centers
- Adjustment reason for expired products: Inventory > Adjustment Reasons
Use this table to determine which method to use for managing expired products, depending on the situation.
| Scenario | Feature to use | How To/Notes | ||
| Vendor will take back the expired product | Inventory > Return to Vendor | Select the vendor, item and enter any details needed for the return. If a replacement item is sent, follow instructions in this FAQ article, for receiving the new item as free goods. | ||
| Vendor does not accept returns or issue credit | Inventory > Internal Stock Use OR Inventory > View Quantity on Hand > Edit QOH | Internal Stock use: Use the cost center of expired products to remove quantity and report the associated cost on the Internal Usage report. If donating the product, this method is recommended for tax reporting purposes. QOH Adjustment: Use with adjustment reason of expired products. Removes quantity and reports the change in quantity on the Adjustment Report. Does not report associated cost. | ||
| Vendor does not accept returns, but will issue credit | Inventory > Internal Stock Use OR Inventory > View Quantity on Hand > Edit QOH | Internal Stock use: Use the cost center of expired products to remove quantity and report the associated cost on the Internal Usage Report. Follow instructions in this FAQ article for applying a vendor credit. QOH Adjustment: Use the adjustment reason of expired products. Removes quantity and reports the change in quantity on the Adjustment Report. Does not report associated cost. Follow instructions in this FAQ article for applying a vendor credit. | ||
| Vendor does not accept returns, but will replace the product at no charge | Inventory > Internal Stock Use OR Inventory > View Quantity on Hand > Edit QOH | Internal Stock use: Use the cost center of expired products to remove quantity and report the associated cost on the Internal Usage report. Follow instructions in this FAQ article for receiving free goods. QOH Adjustment: Use the adjustment reason of expired products. Removes quantity and reports the change in quantity. Does not report associated cost. Follow instructions in this FAQ article for receiving free goods. |
How do I manage a customer product return?
When a client returns a product, the quantity is automatically returned to inventory after posting the invoice for the returned item.
If the return will not be resold, remove it from your inventory based on how your vendor manages returned products with your practice.
Before you start, setup the following:
- Inventory item that can be used for vendor credits and discounts. The item cannot be set to maintain quantity on hand, but must have the inventory type selected during setup.
- Cost center for donations or other appropriate in-house cost center: Inventory > Cost Centers
Use this table to determine which method to use for managing returned products, depending on the situation.
| Scenario | Feature to use | How To/Notes | ||
| Vendor will take back the returned product | Inventory > Return to Vendor | Select the vendor, item and enter any details needed for the return. If a replacement item is sent, follow instructions in this FAQ article for receiving free goods. | ||
| Vendor does not accept returns or issue credit | Inventory > Internal Stock Use | Use the appropriate cost center for returned products. Removes quantity and reports the associated cost on the Internal Usage report. If donating the product, this method is recommended for tax reporting purposes. | ||
| Vendor does not accept returns, but will issue credit for the returned product | Inventory > Internal Stock Use | Use the appropriate cost center for returned items. Removes quantity and reports the associated cost on the Internal Usage Report. Follow instructions in this FAQ article for applying a vendor credit. | ||
| Vendor does not accept returns, but will replace the returned product at no charge | Inventory > Internal Stock Use | Use the appropriate cost center for returned items. Removes quantity and reports the associated cost on the Internal Usage report. Follow instructions in this FAQ article for receiving free goods. |
How do I receive an item that is a different package size than how it’s set up in Cornerstone?
Example: You receive a 100 count bottle and your buy/sell ratio is set up as a 500 count bottle.
Before you start, ensure the inventory item is setup to maintain quantity on hand and has the correct buy/sell ratio: bottle = x tablets.
Receive the new inventory in the following manner to accurately update the quantity on hand (QOH), average cost and retain existing item setup:
- On the Receive Purchase Order window, enter the Item ID.
- In the UOM (unit of measure) column, change to the sell UOM. Example: Change the unit of measure from bottle to tablet.
- Enter the quantity received using the sell unit of measure. Example: Instead of entering one bottle, enter 100 to indicate you are receiving 100 tablets in this bottle, versus the usual 500.
- Enter the cost based on the sell unit of measure. Example: If a 100 count bottle is $50.00, enter the cost as .50 per tablet.
Note: Use the Item information pane at bottom of Receive Purchase Order window to verify the current item setup.
