Microsoft Dynamics GP Inventory Control
Course 8512: One days; Instructor-Led
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Introduction
The Microsoft DynamicsT GP Inventory Control course 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
Purchase Order Processing and Sales Order Processing modules.
You learn how to control inventory challenges and maximize your
company's net profits based on the way you do business. This course
shows 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 course shows you how to group items for pricing, promotional,
or analytical purposes and by type, such as finished goods, raw
material, component, and more. You learn 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 sites,
multiple bins within sites, 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.
Audience
Inventory Control training is recommended for anyone who plans to
implement, use, maintain, consult, or support any part of the
Inventory and Order Processing series. The class is targeted toward
administrators, office managers, CEOs, and consultants who need to
understand the technical aspects of Inventory Control and gain
foundational knowledge of the application functionality.
At Course Completion
After completing this course, students should be able to:
| • |
Understand how Inventory Control module
transactions integrate with other Dynamics GP modules and
improve your business bottom line |
| • |
Use the Inventory Control module to
process receipts, make adjustments to inventory, and
transfer transactions |
| • |
Use Inventory Control 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 Microsoft Dynamics GP |
| • |
Completion of General Ledger,
Receivables Management, and/or Payables Management training
course required |
Microsoft Certified Professional Exams
No Microsoft Certified Professional exams are associated with
this course currently.
Course Materials
The student materials include a comprehensive workbook and other
items necessary to complete the course.
Course Outline
Chapter 1: Overview
This chapter introduces you to the Inventory Control module of
the Microsoft Dynamics GP product and training course, and the
screens and processes that are used to complete the accounting cycle
in Inventory.
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 should be able to:
| • |
Understand the goals of this course |
| • |
See how the Inventory Control module
fits into the suite of available modules for the Dynamics GP
system |
| • |
Follow the flow of transactions through
Inventory |
Chapter 2: Setup Procedures
This chapter examines the setup options available in the
Inventory Control module. We introduce each of the required steps
along with recommended options for various business models. This
chapter discusses each option in detail and provides examples to
better illustrate concepts.
Main Topics
| • |
Procedures for Setting up Inventory
Items |
| • |
Item Classes |
| • |
Unit of Measure |
| • |
Price Levels |
| • |
Prices Groups |
| • |
Inventory Items |
| • |
Price Lists |
| • |
Inventory Quantities |
| • |
Bins |
| • |
Purchasing |
| • |
Vendors |
| • |
Kits |
| • |
Lot Categories |
| • |
Reports |
| • |
Beginning Quantities |
| • |
Stock Calendar |
Labs
| • |
Inventory Setup |
| • |
Unit of Measure Schedule Setup |
| • |
Price Level, Price Group Setup |
| • |
Lot Category Setup |
| • |
Stock Calendar |
| • |
Item Class Setup |
| • |
Accounts Setup |
| • |
Item Site Maintenance |
| • |
Item Maintenance |
| • |
Item Price List |
| • |
Item Quantities/Site Maintenance |
| • |
Item Site Default Bins |
| • |
Item Quantity Stock Count |
| • |
Item Purchasing Options Maintenance |
| • |
Item Vendor, Customer Maintenance |
After completing this chapter, students should be able to:
| • |
Personalize Inventory Management using
the Inventory Setup windows |
| • |
Add Item Classes |
| • |
Set up items codes and characteristics
to better track throughout the system |
| • |
Enter Beginning balances |
Chapter 3: Inventory Control Daily Procedures
This chapter introduces the main Inventory transaction screens.
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, and to move items from site to site
and bin to bin. You review the process by which Inventory
transactions are released to the General Ledger depending on your
posting setup. You also examine the methods for performing physical
inventory counts. You see how to complete a full physical inventory
and the various options available for selecting items to include in
a cycle count.
Main Topics
| • |
Inventory Batch Posting |
| • |
Inventory Single Posting |
| • |
Changing Quantity Types |
| • |
Cost Variance Journals |
| • |
Adjustment Transactions |
| • |
Variance Transactions |
| • |
Transfer Transactions |
| • |
Stock Counts |
Labs
| • |
Increase Adjustments |
| • |
Variance Transaction |
| • |
Transfer Transaction |
| • |
Stock Count Schedule |
| • |
Stock Count Entry |
| • |
Multi Bin Adjustment/Transfers |
After completing this chapter, students should be able to:
| • |
Differentiate between Batch posting and
Transaction Posting |
| • |
Different Methods of posting |
| • |
Enter Inventory Transactions (posting
to General Ledger), Inventory Transfers, and Inventory
Variances |
| • |
Generate and Enter Stock Counts |
| • |
Transfer items between Bins |
Chapter 4: Maintaining Records
This chapter discusses how to make cost, valuation, and price
adjustments to existing items in your system. You also see how to
delete item records when necessary.
You review a series of screens available for viewing inventory
item balances and easily drilling down to the transaction details.
The Inquiry screens allow you to quickly view item information
without having to print reports. You also discuss the Inventory
detail retention and deletion options.
Main Topics
| • |
Change and Delete Records |
| • |
Change Valuation Methods |
| • |
Change Decimal Places |
| • |
Adjust Costs |
| • |
Remove History |
| • |
Remove Bins |
| • |
Reconcile |
| • |
Price List Utilities |
| • |
Item Inquiries |
| • |
Creating/Printing Inventor Reports |
After completing this chapter, students should be able to:
| • |
Change Valuation Methods, Costs, and
Prices of existing items |
| • |
Remove Bins |
| • |
Delete Item records |
| • |
Remove Historical Data |
Chapter 5: Period-End Procedures
This chapter examines the process of closing an accounting period
and the fiscal year for the Inventory Control module. The steps
necessary to complete each phase of the closing process is discussed
for the end of a period as well as a fiscal year. You look at the
reports that should be printed before performing the closing
process. Time is spent examining what actually takes place during
the closing process and approaches that an organization may use for
this process.
Main Topics
| • |
Period-end Checklist |
| • |
Printing Reports |
| • |
Completing ABC Analysis |
| • |
Closing the Fiscal Period |
| • |
Year-end Closing |
After completing this chapter, students should be able to:
| • |
Complete the processes that are
performed at the end of an accounting period |
| • |
Complete the processes that performed
at the end of a fiscal year |
| • |
Perform the Year-end closing process
for Inventory Control |
Appendix A: SmartList
This appendix discusses the use of SmartList to access financial
data. There are also optional exercises that can be completed by
students if time permits.
Main Topics
| • |
Using SmartLists |
| • |
Creating Objects |
| • |
Using the Search Button |
| • |
Saving New Objects as Favorites |
Labs
| • |
Create a SmartList Account Inquiry |
| • |
Save the query as a Favorite |
| • |
Create a SmartList Account Transaction
Inquiry |
| • |
Create a SmartList Account Summary
Inquiry |
| • |
Create a SmartList Multidimensional
Analysis Inquiry |
| • |
Export Information to Microsoft Excel |
| • |
Print Reports |
After completing this appendix, students should be able to:
| • |
Use SmartLists to access valuable sales
data |
| • |
Create new SmartList objects |
| • |
Use the Search button to manage the
information in a view |
| • |
Explain the various options that are
available when using SmartLists |
Appendix B: Case Study
This case study is a comprehensive lab that can be used to
reinforce the learning that has occurred throughout the Inventory
Control class.
Main Topics
| • |
Inventory Control Setup |
| • |
Inventory Control Document Entry |
| • |
Printing Inventory Control Documents |
After completing this appendix, students should be able to:
| • |
Understand the necessary processes to
set up and manage their Inventory Control module |
| • |
Have more confidence in their ability
to use Inventory Control in their company |
Appendix C: Test Your Knowledge
This appendix contains short answer and True or False questions
that may be used as a review of the information covered in this
course and may be used as time permits. Answers to all questions are
provided at the end of the section.
