Inventory management: Internal stock use
Deplete inventory and capture associated cost as an internal cost of goods from the Internal Usage report. A cost center must be used to perform internal stock use.
Before you start
- Security access to Inventory-Internal Stock Use dialog.
- Inventory cost centers setup.
- Usage tax(es) setup and linked to inventory items, if applicable.
- Inventory items setup and associated with at least one location (MLI can have items associated with more than one location).
Using the internal stock use feature
Inventory > Internal Stock Use
- Enter Item ID or F2 to search and select item.
- Enter quantity to deduct from inventory.
- Enter lot information, if tracking.
- Enter the expiration date, if tracking.
- Modify date used, if needed.
- If using Multi-location inventory, indicate the location to delete from.
- Select cost center.
- Select usage tax(es) to apply, if needed.
- Enter or modify cost, if needed.
- Check total cost for accuracy (quantity x cost + usage tax)
- Click Save.
Additional information
Internal stock use
- Internal Stock use is only for items tracking quantity on hand (QOH).
- Required fields are marked with an * .
- When performing internal stock use for items not physically present and are tracking lot or expiration dates or associated with more than one location (Multi-location inventory only):
- Open View Quantity on Hand window first and bring up item(s) so lot/exp date and location (MLI only) information is available.
- Open Internal Stock Use window and drag down so both windows visible.
- Complete steps above using the lot/expiration date info from the View Quantity on Hand window.
- This will help avoid incorrect entries that can cause a negative quantity and will not match on hand records.
- Click Save to have the internal stock use transaction appear on the Internal Usage report. This report is accessed from the Print button on the Internal Stock Use window.
Related reports
- Internal Usage Report
- Usage Tax Report
- Audit Report
