Synopsis

The Microsoft Business Solutions - Solomon 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 will learn how to control inventory challenges and maximize your company's net profits based on the way you do business. We will show you 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. We will show you 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 will learn how to manage multiple warehouses, negative quantities, and lot/serial numbers. We will demonstrate how Lot/Serial Number tracking is streamlined during inventory transaction entry.

You will be able to 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.

At Course Completion

After completing this course, students will be able to:

• Understand how Inventory module transactions integrate with other Solomon modules and improve your business bottom line
   
• Use the Inventory module to process receipt, issue, adjustment, and transfer transactions
   
• Use Inventory inquiry screens and reports to extract and analyze appropriate information to maintain and improve inventory business processes
   
• Create and assemble kits
   
• Understand how maintenance screen 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 Solomon.
  
• Completion of General Ledger, Accounts Receivable, and/or Accounts Payable training course required.