Golden Lion Serial Inventory
The Serial Inventory module from Data Images' Golden Lion Accounting System handles all aspects of your Inventory Control needs. It is comprised of six main elements:
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There are three sources of Purchase Orders in the Golden Lion Serial Inventory system.
First, purchase orders may be entered manually. Both stocking and non-stocking products may be ordered. Purchase orders may be printed, or faxed directly from the computer to the vendor.
Second, purchase orders may be created in the Purchase Suggestion module. Here the history of purchases and sales are analyzed and a recommendation is made. After review, and all changes have been made, the module creates purchase orders for each vendor. These may then be manipulated just as manual purchase orders above.
Third, purchase orders may be created as special orders from the Sales Orders module. If inventory is not carried, then a non-stocking sales order may be entered, which will trigger the creation of a purchase order to the vendor(s). In addition, a third party/drop ship sales order may be entered, which will create a purchase order.
Once a purchase order has been created and printed/faxed, it awaits the arrival of the products. If all the products are received, then the purchase order is received, and no back order is created. If a product is back ordered, then a new purchase order is created (append ".1" to the PO number). This back order is treated as a regular purchase order, and itself may spawn a back order (append ".2" to the PO number). The value of the inventory received is accrued in the Serial Inventory general ledger journal file.
When the vendor's invoice arrives, it is matched with the purchase order. Discrepencies are resolved, and the Accounts Payable vendor invoice is created and passed to the A/P module. The value of inventory received is reversed out of the Serial Inventory general ledger journal file, and the actual invoice value is entered. If any of the inventory has been sold (valued at the ordered cost), then an adjustment is maded if the invoiced cost is different.
Customer Quotations may be created the same way as Sales Orders / Invoices are created. They may include stocking and non-stocking inventory. When completed, they may be printed and/or faxed directly to the customer.
Sales Orders / Picking Tickets / Invoices
When orders are entered into the computer, the inventory is checked. If the product is obsolete, it may be sold if available, but cannot be reordered. If an obsolete part has no stock, it cannot be sold.
Pricing is determined first by special pricing for the specific product for a specific customer. If the product has no special pricing for the customer, then group level pricing is checked. The customer file has a price group code, and if that code is in the price file, it determines the price. If this is not the case, then quantity break pricing is used.
Items may be charged sales tax on a line by line basis.
Once the order is entered, a picking ticket is printed and the order is filled. The picking ticket may have pricing information if the order is a cash sale.
Once the order is filled, and any back ordered quantities determined, the order can be sent to accounting for final processing. Packing slips and packing labels can be printed if required.
If a product is back ordered, then a back order picking ticket is generated. The next purchase order receipt containing the product causes a notification report to be printed specifying the customer, order number, product and quantity to be filled.
Work Tickets track parts, labor and outside services for:
Any serial numbered product sold is tracked in the Equipment file: the customer, purchase date, warranty information and current status.
If a part is received that is not in the system, it may be entered on a work ticket, and its activity within your company may be tracked.
Once the warranty , repair or maintenance work is complete, an invoice is generated and the part shipped back to the customer.
Warehouse Transfers occur when inventory is move from one location to another. This may occur for production purposes, balancing stock, or to reflect the change in the status of a product (eg, your salesperson returns a demo unit from a customer to the warehouse for sale).
Production Work Orders
Production Work Orders reflect the use of one or more items to produce another. Production runs off of the bill of materials in the product file.
Multiple warehouses are a central feature of the Serial Inventory system. Even if you have only a single location, you may find it convenient to define a warehouse for products to be sold, a warehouse for raw material for Production Work Orders, a warehouse for items on trial at a customer, or a warehouse for items in your showroom.
Each warehouse has a description, address and codes from the Accounts Payable system required by the Purchase Order program.
The warehouse record also defines the computer printer queues for all documents printed by the Serial Inventory module:
Some or all of the print queues may be the same, with the user changing pre-printed forms as required. Or, seperate printers may exist, dedicated to a specific form and located in close proximity to the people responsible for the transaction represented by the form.
The Product file holds definitions for each product in your inventory:
The Inventory is divided up by warehouse. The same product may reside in several warehouses, each with its own onhand quantity, cost and purchase history. Open Purchase orders may be reviewed. Unfilled Sales Orders may be checked.
Equipment / Serialized Products
Equipment that is serial numbered is tracked. The source of this file can be a sales order, that is, you sold it to the customer, or a work ticket, where a customer brought the product in for repair or maintenance, but it was not originally sold to them by your company.
Importing Vendor Cost files
Frequently, vendors will provide computer disk files with new and updated product pricing. These files can be read and used to update the product file vendor cost information.
The purchase suggestion module
Here the history of purchases and sales for the past two years are analyzed. The vendor lead time, the current inventory level and outstanding orders are checked and a recommendation is made. The recommendation is for sufficient inventory to satisfy predicted sales from the date the recommended order is received (taking into account the existing inventory onhand) until a shipment would arrive if a new order were placed the same day as the recommended order is received.
This process may be run for all vendors, for one or more vendors vendors, or for one or more product groups. Once the initial recommendations have been calculated, a report may be printed and changes noted. Or, you may go directly to the update phase where each product with a positive order recommendation is presented, with the opportunity to agree, or change the quantity or vendor. When all changes have been made, the module creates purchase orders for each vendor. These may then be manipulated just as manual purchase orders above.
There are more than a hundred reports reflecting the status of transactions in process, and the history of everything that has happened. There is no predetermined cutoff for history, except disk space and patience. Purging is done as required.
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