Inventory in Microsoft Dynamics SL 6.5

Course 8548: One day; Instructor-Led

Introduction
The Microsoft DynamicsT SL Inventory class explores all aspects of the Inventory module from the initial setup of inventory items and the multiple methods of valuation supported, to the types of inventory transactions available and the tight integration to the Purchasing and Order Management modules.

You learn how to control inventory challenges and maximize your company's net profits based on the way you do business. You see how to define default inventory account numbers, COGS, variances, sites, product classes, valuation methods and more, which will improve efficiency and cut down on costly data entry errors. This class shows you how to group items for pricing, promotional, or analytical purposes and by type, such as finished good, raw material, component, and more. You see how to quickly find information such as inventory quantity on hand, quantity available, quantity on back order, costs, and list prices, and where to drill down to transaction details. You learn how to manage multiple warehouses, negative quantities, and lot/serial numbers. You see how Lot/Serial Number tracking is streamlined during inventory transaction entry.

You can simplify entry and reconciliation of physical inventory counts with a variety of options, including the ability to freeze inventory quantities so they are not updated by day-to-day transactions while you are counting.

Audience
Inventory training is recommended for anyone who plans to implement, use, maintain, consult, or support Microsoft Dynamics SL. The class is targeted toward administrators, office managers, CEOs, and consultants who need to understand the technical aspects of Inventory and gain foundational knowledge of the application functionality.

At Course Completion
After completing this course, students will be able to:

• Understand how Inventory module transactions integrate with other Microsoft Dynamics SL modules and improve your business bottom line.

• Use the Inventory module to process receipt, issue, adjustment, and transfer transactions.

• Use Inventory inquiry windows and reports to extract and analyze appropriate information to maintain and improve inventory business processes.

• Create and assemble kits.

• Understand how maintenance window options affect transactions in the Inventory module.

• Process physical inventory transactions and record the results.

• Document month end processes and close the Inventory module.

• Define setup options for the Inventory module that allow you to customize your system to better fit your organization's unique needs.

Prerequisites
Before attending this course, students must have:

• General knowledge of Microsoft® Windows®.

• Knowledge of basic navigation functions in Microsoft Dynamics SL.

• Completion of General Ledger, Accounts Receivable, and/or Accounts Payable training courses required.

Microsoft Certified Professional Exams
This course helps you prepare for the following Microsoft Certified Professional exams:

• Microsoft Dynamics SL Inventory and Order Processing

Course Materials
The student courseware includes a comprehensive workbook.

Course Outline
Chapter 1: Overview

This overview chapter introduces you to the Inventory module of the Microsoft Dynamics SL product and training course, and the windows and processes that are used to complete the accounting cycle in Inventory.

Also, it is important to note that this chapter is optional and can be skipped at the instructor's discretion if the instructor feels that each student's background provides sufficient experience in these topic areas.

Main Topics

• Course Description

• Module Overview

• Process Flow

• Other Features

After completing this chapter, students will be able to:

• Understand the goals of this course.

• See how the Inventory module fits into the suite of available modules for the Microsoft Dynamics SL system.

• Follow the flow of transactions through Inventory.

Chapter 2: Active Overview

This chapter examines the core processes that are used in the Inventory module. We introduce each step in the accounting cycle, briefly discuss its purpose and primary features, and focus on its function in the accounting cycle. Please note that this chapter is not intended to provide you with a detailed primer on each of these topics.

This chapter is optional and can be skipped at the instructor's discretion if the instructor feels that each student's background provides sufficient experience in these topic areas.

Main Topics

• Procedures for Processing Inventory Transactions

• Transaction Overview

After completing this chapter, students will be able to:

• Understand the flow of Inventory transactions.

• Understand the process of entering Receipt, Transfer, Adjustment, and Issue transactions.

• Understand the process of assembling a Kit.

Chapter 3: Inventory Maintenance Windows

This chapter explains how to create inventory items and examines the windows that need to be completed prior to creating inventory items. You learn how to create product classes and lines, warehouse bin locations, attributes and cross reference lists and assign defaults to inventory items.

Main Topics

• Procedures for Setting up Inventory Items

• Product Classes

• Product Lines

• Warehouse Bin Locations

• Inventory Items

• Inventory Sites

• Attribute Definitions

• Physical Attributes

• Reports

Labs:

• Create a new product class for paper

• Create a new product class for chairs

• Create a new product class for copiers

• Create a new product class for bicycle manufacturing

• Create a new product class for office supplies

• Create a new bin locations for new products

• Assign default bin locations for the new products

• Define new inventory items for chairs

• Define new inventory items for copiers

• Define cross references for vendor ID numbers

• Create attributes to define various inventory items for paper by weight, brightness, size, and purpose

• Assign attributes to each inventory item for paper

After completing this chapter, students will be able to:

• Understand the windows that should be completed before setting up inventory items.

• Set up inventory items.

Chapter 4: Inventory Kits

This chapter discusses the process for creating inventory items to represent a kit and the components of a kit. You see how inventory kits facilitate inventory production, management and ordering. You learn the basic differences between stock and non stock kits.

Main Topics

• Procedures for Creating Kits

• Inventory Kits

• Types of Kits

• Updating Standard Costs

• Reports

Lab:

• Create an inventory ID for a kit item

After completing this chapter, students will be able to:

• Understand the purpose of Inventory Kits.

• Define Kits in Inventory.

Chapter 5: Entering Beginning Balances

In this chapter, you examine the process for using the Inventory Receipts window to establish beginning balance quantity and value information for inventory items. We also discuss the use of Reason Codes to identify the purpose of particular inventory transactions.

Main Topics

• Beginning Balance Checklist

• Reason Codes

• Receipts

• Reports

Labs:

• Enter an inventory receipt transaction from information on a packing slip

• Enter an inventory receipt transaction with serial numbers from information on a packing slip

After completing this chapter, students will be able to:

• Set up Reason Codes to provide standard reasons why particular Inventory transactions, such as Returns, are being done.

• Enter beginning balances.

Chapter 6: Inventory Transactions

This chapter introduces four main inventory transaction windows. An inventory transaction is processed whenever an inventory item's quantity or cost information changes. You gain an understanding of how Inventory transactions can be used to record issues and returns, to adjust quantities and costs, to move items from site to site, and to produce kit assemblies. You see the process by which Inventory transactions are released to the General Ledger through the Inventory Batch Release Process.

Main Topics

• Overview of Transactions

• Types of Transactions (Issues, Transfers, Receipts, Sales)

• Reports

Labs:

• Enter a transfer to place inventory in a storage location

• Enter the first step of a two-step transfer to move inventory quantity to a different location

• Enter the second step of a two-step transfer to receive inventory quantity to the new location

• Enter a transaction to record a sale from information on a pick ticket

• Adjust an inventory quantity to account for damaged goods

• Assemble the kit defined in a previous lab

After completing this chapter, students will be able to:

• Understand the types of transactions that are entered in the Inventory module.

• Enter Inventory Issues.

• Understand the two different methods used to accomplish transfers.

• Enter Inventory Adjustments.

• Enter an Inventory Kit Assembly.

Chapter 7: On Window Inquiry

This chapter reviews the series of windows available for viewing inventory item balances and easily drilling down to the transaction details. The Inquiry windows allow you to quickly view item information without having to print reports.

Main Topics

• Inventory Inquiry

After completing this chapter, students will be able to:

• Understand the windows available in the Inventory module for viewing transaction and status information.

Chapter 8: Physical Inventory

This chapter examines the methods for performing physical inventory counts. We discuss how to complete a full physical inventory and the various options available for selecting items to include in a cycle count.

Main Topics

• Physical Inventory Concepts

• Performing a Physical Inventory

• Physical Inventory Windows

• Physical Inventory Reports

Labs:

• Generate cycle count tags for specified inventory items

• Enter counts in the Physical Count entry window

After completing this chapter, students will be able to:

• Understand the Physical Inventory process.

• Prioritize inventory prior to counting.

• Freeze Inventory and generate inventory count tags.

• Enter and reconcile counts.

• Understand how the system adjusts inventory.

Chapter 9: Closing

This chapter teaches you to create a closing checklist to ensure all transactions and activities have been completed for the accounting period, produce appropriate audit trail reports, correct an out of balance condition, and close only the Inventory module or all modules for the period. We also discuss the Inventory detail retention and deletion options.

Main Topics

• Balance to the General Ledger

• Close for the Month or Year

• Delete Inventory Detail

• Perform IN Integrity Check

After completing this chapter, students will be able to:

• Understand the timing of closing the Inventory module with the other Distribution modules.

• Determine the possible cause of out-of-balance conditions in Inventory

• Use the module integrity check.

Appendix A: Inventory Setup

Appendix A helps you understand the defaults and user options defined in the Inventory Setup window. Even though these options are typically not changed after the product is implemented, you will gain understanding of default values and processes through the settings in this window.

Main Topics

• Inventory Policies

• Inventory Setup Checklist

• Module Implementation Worksheet

• Sites

• Inventory Setup

• Unit Conversions

• Material Types

After completing this chapter, students will be able to:

• Understand the decisions that need to be made prior to setting up the Inventory module.

• Define options in the IN Setup window which affect processing.

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