Post on 09-Mar-2018
OCI Accounting System
User Manual
Created: Wednesday, July 10, 2013
Copyright © OC Innovations Pte Ltd. All Rights Reserved.
OCI Accounting System
copyright © OC Innovations Pte Ltd. All rights reserved. http://www.ocisystem.com/
The information contained in this document is subject to change without notice.This document contains proprietary information which is protected by copyright.
All rights are reserved. No part of this document may be photocopied, reproduced, or translated to another language without the prior written consent of OC Innovations Pte Ltd.
Table of Contents
Chapter 1: Inventory Training
1 Ready?
1.1 Periodic versus Perpetual
1.1.1 Periodic Inventory System
1.1.2 Perpetual Inventory System
1.1.3 Advantages & Disadvantages
1.2 Modules with no impact on Stock
2 Get Set... & Go!!!
2.1.1 Item Group and Items
2.1.1.1 What is Item Group?
2.1.1.2 Renaming existing Item Group
2.1.1.3 Creating new Item Group
2.1.1.4 How to create a Stock Item?
2.1.2 Warehouse and Location Code
2.1.2.1 How to create a Warehouse and Location Code?
2.1.3 Understanding Stock Item Costing
2.1.3.1 How is Stock Item Costing Calculated?
2.1.3.2 Purchasing of Stock Item with different Cost
2.1.3.2.1 Purchasing 1st batch of Printer at $180
2.1.3.2.2 Check if Unit Printer cost is $180
2.1.3.2.3 Purchasing 2nd batch of Printer at $210
2.1.3.2.4 Check if Unit Printer cost is $190
2.1.3.3 Different Cost allocated when Selling of Stock Item at different period
2.1.3.3.1 Selling 5 sets of Printer in Period 1
2.1.3.3.2 Buying 5 sets of Printer at $205
2.1.3.3.3 Selling 5 sets of Printer in Period 2
2.1.3.4 What is the use of Lot number?
2.1.3.4.1 Using Lot Number in your Purchase
2.1.3.4.2 Check Stock Cost of Item with Lot Number
2.1.3.4.3 Using Lot Number in your Sales
2.1.4 Managing Unbilled Inventory
2.1.4.1 Issuing Receive Order & Supplier’s Invoice with Different Costing
2.1.4.1.1 Receiving Stock Items at $1000 each
2.1.4.1.2 Enter the actual Supplier Invoice with Stock Items at $1050 each
2.1.4.1.3 Checking for Unbilled Inventory Amount
2.1.4.2 How do you Adjust Unbilled Inventory value ?
2.1.4.3 How can you avoid having values posted to Unbilled Inventory?
2.1.5 Impact of Deliveries on Stock
2.1.5.1 Issuing a Delivery Order
2.1.5.2 Undering Stock Report after Delivery Order
2.1.5.3 Issuing a Sales Invoice
2.1.5.4 Undering Stock Report after Invoice
2.1.6 Others
2.1.6.1 How can I check Stock status while Invoicing?
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2.1.6.2 How can I check past Item Pricing while Invoicing?
2.1.6.3 Can I issue a Credit Note for a Stock Item without affecting my Stock Account?
2.1.6.4 How are stock items assigned to a certain warehouse or location?
3 Result & Others
3.1 Stock Adjustment
3.1.1 What are Types of Adjustment?
3.1.2 How do you transfer Stock from one Warehouse to another?
3.1.3 What should you do with Stock Items Found?
3.1.4 How can you Adjust the Stock Cost?
3.1.5 How do you do an update after Stock Check?
3.2 Stock Report
3.2.1 Stock Report
3.2.2 Stock Detail Report
3.3 Financial Report
3.3.1 In P&L, how can you differentiate Stock & Service Sales?
3.4 Item Categories
3.4.1 What are Categories for?
3.4.2 How do you setup Uncontrolled Categories?
3.4.3 How do you setup Controlled Categories?
3.4.4 Assigning Stock Item to Category
Chapter 2: Index
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87
1 Ready?2 Get Set... & Go!!!3 Result & Others3.3 Financial Report3.4 Item Categories
Inventory Training
1 . Inventory Training
OCI Accounting System
1.1 Periodic versus Perpetual1.2 Modules with no impact on Stock
1 Ready?
Inventory Training . 2
OCI Accounting System
1.1.1 Periodic Inventory System1.1.2 Perpetual Inventory System1.1.3 Advantages & Disadvantages
1.1 Periodic versus Perpetual
3 . Inventory Training
OCI Accounting System
Topic:
1.1.1 Periodic Inventory System
Home > Inventory Training > 1 Ready? > 1.1 Periodic versus Perpetual > 1.1.1 Periodic Inventory System
Remark
Periodic inventory counts (such as oncea month, or at the beginning and end of
each year), and does not have anaccurate record of the inventories in
between these points
This system does not keepcontinuous, moment-to-moment
records of inventories.
Records are updated periodically –meaning, at certain points in time –
when actual counts are done.
Created by:Admin Last Modified: Admin 6/25/2013 4:24 PM
Inventory Training . 4
OCI Accounting System
Topic:
1.1.2 Perpetual Inventory System
Home > Inventory Training > 1 Ready? > 1.1 Periodic versus Perpetual > 1.1.2 Perpetual Inventory System
Remark
Perpetual means continuous. This is asystem where a business keeps
continuous, moment-to-moment recordsof the number, value and type of
inventories that it has.
OCi Accounting system – where eachitem of inventory is linked to theaccounting entries – creates a
perpetual system.
Inventory levels are automaticallydecreased as soon as the invoice hasbeen entered and completed at the
till.
Created by:Admin Last Modified: Admin 6/25/2013 4:25 PM
5 . Inventory Training
OCI Accounting System
Topic:
1.1.3 Advantages & Disadvantages
Home > Inventory Training > 1 Ready? > 1.1 Periodic versus Perpetual > 1.1.3 Advantages & Disadvantages
Remark
Perpetual Inventory System
Allow for Accurate Restocking
Uncovers Shrinkage & Theft
Accurate Interim Financial
Statements
This method ensure real-timerecording of stock movement,hence able to give a accurate
report.
Periodic Inventory System
Simple Calculations
Easy Record System
As stock is only adjustedduring year-end, interim
control is difficult and reportsare outdated.
OCi Accounting system adopt the more accuratePerpetual Inventory method
Created by:Admin Last Modified: Admin 6/25/2013 4:26 PM
Inventory Training . 6
OCI Accounting System
Topic:
1.2 Modules with no impact on Stock
Home > Inventory Training > 1 Ready? > 1.2 Modules with no impact on Stock
Remark
Transactional Modules that have totally no impact onInventory Stock Calculation:
QUOTATION
DELIVERY ORDER
PURCHASE ORDER
Created by:Admin Last Modified: Admin 6/25/2013 4:26 PM
7 . Inventory Training
OCI Accounting System
2.1.1 Item Group and Items2.1.2 Warehouse and Location Code2.1.3 Understanding Stock Item Costing2.1.4 Managing Unbilled Inventory2.1.5 Impact of Deliveries on Stock2.1.6 Others
2 Get Set... & Go!!!
Inventory Training . 8
OCI Accounting System
2.1.1.1 What is Item Group?2.1.1.2 Renaming existing Item Group2.1.1.3 Creating new Item Group2.1.1.4 How to create a Stock Item?
2.1.1 Item Group and Items
9 . Inventory Training
OCI Accounting System
Topic:
2.1.1.1 What is Item Group?
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.1 Item Group and Items > 2.1.1.1 What is Item Group?
Remark
Item Group
Controls which General Ledger Account thedouble-entries are posted to.
Item Records the description of the Stock item, andset which Item Group it belongs to.
Created by:Admin Last Modified: Admin 6/25/2013 4:30 PM
Inventory Training . 10
OCI Accounting System
Topic:
2.1.1.2 Renaming existing Item Group
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.1 Item Group and Items > 2.1.1.2 Renaming existing Item Group
Location Action Remark
Setup>
Item Group
Click SETUP activity
Click ITEM DETAILS
Click ITEM GROUP modules
Select INVENTORY GROUP
Click EDIT
DESCRIPTION rename PC
Group
Check the Inventory button
Type defines the nature ofitems belonging to this group.
Service – e.g.
delivery, transport
Inventory – for
Stocks
Remark – for
comments use for
documents e.g.
D.O., Invoices
INVENTORY AC select Stock This set which account to postto when there is a stock
movement.
COST OF GOODS SOLD AC
select Cost of Goods Sold
This set which account to postto when a stock is sold.
11 . Inventory Training
OCI Accounting System
UNBILL INVENTORY AC select
Unbilled Inventory
This account handles thedifference in stock cost duringpurchase process. More will be
explained later.
COST CALCUATION check for
Weighted Average Cost
This defines stock costcalculation method.
Currently the system can onlyhandle Weighted Average
Costing. Details will beexplained later.
Tick PRIORITY Once this is ticked, item sales inthis group will be determine by
INVOICE CREDIT AC.
This will overwrite the settingsat Customer Group
INVOICE CREDIT AC check for
INC001 - Sales
It allows you to set item salesfor this group to be recorded to
a different Income Account.
Click UPDATE
Created by:Admin Last Modified: Admin 6/25/2013 4:30 PM
Inventory Training . 12
OCI Accounting System
Topic:
2.1.1.3 Creating new Item Group
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.1 Item Group and Items > 2.1.1.3 Creating new Item Group
Location Action Remark
Setup>
Item Group
Select PC GROUP
Click DUPLICATE
CODE enter IV2
DESCRIPTION rename Accessories Group
PRORITY click tick
INVOICE CREDIT AC check for
Accessories Sales
Click ADD
Close module
Created by:Admin Last Modified: Admin 6/25/2013 4:34 PM
13 . Inventory Training
OCI Accounting System
Topic:
2.1.1.4 How to create a Stock Item?
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.1 Item Group and Items > 2.1.1.4 How to create a Stock Item?
Location Action Remark
Setup>
Item
Click SETUP activity
Click ITEM DETAILS
Click ITEM modules
Click NEW
CODE enter DDT001
GROUP select PC Group
If the PC Group is earlierdefine as Inventory Type, thisitem will be registered as stock
item.
DESCRIPTION enter Dell
Desktop
UOM enter Set
Click ADD
Inventory Training . 14
OCI Accounting System
Location Action Remark
Setup>
Item
Click NEW
CODE enter CLP001
GROUP select Accessories Group
DESCRIPTION enter Canon Laser
Printer
UOM enter Set
Click ADD
Close module
Created by:Admin Last Modified: Admin 6/25/2013 4:35 PM
15 . Inventory Training
OCI Accounting System
2.1.2.1 How to create a Warehouse and Location Code?
2.1.2 Warehouse and Location CodeLocation Action Remark
Setup>
Warehouse
Click SETUP activities
Click ITEM DETAILS
Click WAREHOUSE module
Warehouse is for you tophysically identify the location of
your stock item.
Example, if you have 2warehouses one in Changi while
another at Tuas.
Location is the specific area withinthe warehouse the item is
housed.
Note that the system calculatesstock costing individually when
the same stock items are house indifferent location – i.e. a similar
stock may have a differentcosting in Changi Warehouse
then in Tuas Warehouse.
If an item is not identified withany warehouse, it can be easily
understood.
Inventory Training . 16
OCI Accounting System
Topic:
2.1.2.1 How to create a Warehouse and Location Code?
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.2 Warehouse and Location Code > 2.1.2.1 How to create a Warehouse and Location Code?
Location Action Remark
Setup>
Warehouse
Click NEW
WAREHOUSE CODE enter CHANGI
DESCRIPTION enter Changi
Warehouse
Location
LOCATION CODE enter R1
DESCRIPTION enter Rack 1
LOCATION CODE enter R2
DESCRIPTION enter Rack 2
LOCATION CODE enter R3
DESCRIPTION enter Rack 3
Click ADD
17 . Inventory Training
OCI Accounting System
Location Action Remark
Setup>
Warehouse
Click DUPLICATE
WAREHOUSE CODE enter TUAS
DESCRIPTION enter Tuas
Warehouse
Click ADD
Close module
Created by:Admin Last Modified: Admin 6/25/2013 4:38 PM
Inventory Training . 18
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2.1.3.1 How is Stock Item Costing Calculated?2.1.3.2 Purchasing of Stock Item with different Cost2.1.3.3 Different Cost allocated when Selling of Stock Item at differentperiod2.1.3.4 What is the use of Lot number?
2.1.3 Understanding Stock Item Costing
19 . Inventory Training
OCI Accounting System
Topic:
2.1.3.1 How is Stock Item Costing Calculated?
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.3 Understanding Stock Item Costing > 2.1.3.1 How is Stock Item Costing Calculated?
The system uses Weighted Average Cost as the method of calculating Ending Inventory cost. It takes Cost of Goods (Stock Items) available for Sales anddivides it by the total quantities of the goods. This gives a Weighted Average Cost per Unit.
Created by:Admin Last Modified: Admin 6/25/2013 4:41 PM
Inventory Training . 20
OCI Accounting System
Topic:
2.1.3.2 Purchasing of Stock Item with different Cost
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.3 Understanding Stock Item Costing > 2.1.3.2 Purchasing of Stock Item with different Cost
Created by:Admin Last Modified: Admin 7/9/2013 2:02 PM
21 . Inventory Training
OCI Accounting System
Topic:
2.1.3.2.1 Purchasing 1st batch of Printer at $180
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.3 Understanding Stock Item Costing > 2.1.3.2 Purchasing of Stock Item with differentCost > 2.1.3.2.1 Purchasing 1st batch of Printer at $180
Location Action Remark
Purchase>
SupplierInvoice
Click PURCHASES activity
Click SUPPLIER INVOICE module
Click NEW
VENDOR select (or create) In-
Time Supplier Pte Ltd
Details:
ITEM select Canon Laser Printer
QTY enter 10
UNIT PRICE enter 180
TOTAL check for 1,926
Click ADD
$1926 is after GST.
Created by:Admin Last Modified: Admin 6/25/2013 4:48 PM
Inventory Training . 22
OCI Accounting System
Topic:
2.1.3.2.2 Check if Unit Printer cost is $180
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.3 Understanding Stock Item Costing > 2.1.3.2 Purchasing of Stock Item with differentCost > 2.1.3.2.2 Check if Unit Printer cost is $180
Location Action Remark
Report>Inventory>
Stock
Click REPORT activity
Click INVENTORY
Click STOCK module
Click REFRESH
UNIT COST check for 180
COST check for 1,800
Created by:Admin Last Modified: Admin 6/25/2013 4:49 PM
23 . Inventory Training
OCI Accounting System
Topic:
2.1.3.2.3 Purchasing 2nd batch of Printer at $210
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.3 Understanding Stock Item Costing > 2.1.3.2 Purchasing of Stock Item with differentCost > 2.1.3.2.3 Purchasing 2nd batch of Printer at $210
Location Action Remark
Purchase>
SupplierInvoice
Click NEW
VENDOR select (or create) In-
Time Supplier Pte Ltd
Details:
ITEM select Canon Laser Printer
QTY enter 5
UNIT PRICE enter 210
TOTAL check for 1,123.50
Click ADD
Created by:Admin Last Modified: Admin 6/25/2013 4:49 PM
Inventory Training . 24
OCI Accounting System
Topic:
2.1.3.2.4 Check if Unit Printer cost is $190
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.3 Understanding Stock Item Costing > 2.1.3.2 Purchasing of Stock Item with differentCost > 2.1.3.2.4 Check if Unit Printer cost is $190
Location Action Remark
Report>Inventory>
Stock
Click REFRESH
UNIT COST check for 190
COST check for 2,850
10sets @ $180 = $1,800
5sets @ $210 = $1,050
Weighted Average Cost(WAC) = ($1,800 +
$1,050) / (10sets +5sets)= $2,850 / 15
= $190
Created by:Admin Last Modified: Admin 6/25/2013 4:51 PM
25 . Inventory Training
OCI Accounting System
2.1.3.3.1 Selling 5 sets of Printer in Period 12.1.3.3.2 Buying 5 sets of Printer at $2052.1.3.3.3 Selling 5 sets of Printer in Period 2
2.1.3.3 Different Cost allocated when Selling of StockItem at different period
Inventory Training . 26
OCI Accounting System
Topic:
2.1.3.3.1 Selling 5 sets of Printer in Period 1
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.3 Understanding Stock Item Costing > 2.1.3.3 Different Cost allocated when Selling of Stock Item atdifferent period > 2.1.3.3.1 Selling 5 sets of Printer in Period 1
Location Action Remark
Sales>
Invoice
Click SALES activity
Click INVOICE module
Click NEW
CUSTOMER select (or create)
EveryDay Customer Pte Ltd
Details:
ITEM select Canon Laser Printer
QTY enter 5
UNIT PRICE enter 300
TOTAL check for 1,605
Click ADD
$1605 is after GST.
27 . Inventory Training
OCI Accounting System
Location Action Remark
Sales>
Invoice
Select the same Invoice
Click EDIT
Click GL
ACCOUNT check for Cost of Goods
Sold is 950
Cost of Goods Sold @ $190 x 5 = $950
Close General Ledger module
Click UNDO for Invoice
Created by:Admin Last Modified: Admin 6/25/2013 4:54 PM
Inventory Training . 28
OCI Accounting System
Topic:
2.1.3.3.2 Buying 5 sets of Printer at $205
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.3 Understanding Stock Item Costing > 2.1.3.3 Different Cost allocated when Selling of Stock Item atdifferent period > 2.1.3.3.2 Buying 5 sets of Printer at $205
Location Action Remark
Purchase>
SupplierInvoice
Click PURCHASES activity
Click SUPPLIER INVOICE module
Click NEW
VENDOR select (or create) In-
Time Supplier Pte Ltd
Details:
ITEM select Canon Laser Printer
QTY enter 5
UNIT PRICE enter 205
TOTAL check for 1,096.75
Click ADD
29 . Inventory Training
OCI Accounting System
Location Action Remark
Report>
Stock
Click REFRESH
UNIT COST check for 195
COST check for 2,925
10sets @ $190 = $1,900
5sets @ $205 = $1,025
WAC = ($1,900 + $1,025)/ (10sets +5sets)
= $2925 / 15
= $195
Created by:Admin Last Modified: Admin 6/25/2013 4:55 PM
Inventory Training . 30
OCI Accounting System
Topic:
2.1.3.3.3 Selling 5 sets of Printer in Period 2
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.3 Understanding Stock Item Costing > 2.1.3.3 Different Cost allocated when Selling of Stock Item atdifferent period > 2.1.3.3.3 Selling 5 sets of Printer in Period 2
Location Action Remark
Sales>
Invoice
Click SALES activity
Click INVOICE module
Select the previous invoice
Click DUPLICATE
TOTAL check for 1,605
Click ADD
31 . Inventory Training
OCI Accounting System
Location Action Remark
Sales>
Invoice
Select the same Invoice
Click EDIT
Click GL
ACCOUNT check for Cost of Goods
Sold is 1,075
Close General Ledger module
Click UNDO for Invoice
Created by:Admin Last Modified: Admin 6/25/2013 4:56 PM
Inventory Training . 32
OCI Accounting System
2.1.3.4.1 Using Lot Number in your Purchase2.1.3.4.2 Check Stock Cost of Item with Lot Number2.1.3.4.3 Using Lot Number in your Sales
2.1.3.4 What is the use of Lot number?Lot Number is a ‘Tag’ assigned to a stock item. It can be understood as a batch number assigned to your purchase as it will separate the costing from thosewithout Lot Number.
33 . Inventory Training
OCI Accounting System
Topic:
2.1.3.4.1 Using Lot Number in your Purchase
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.3 Understanding Stock Item Costing > 2.1.3.4 What is the use of Lot number? > 2.1.3.4.1 UsingLot Number in your Purchase
Location Action Remark
Purchase>
SupplierInvoice
Click PURCHASES activity
Click SUPPLIER INVOICE module
Click NEW
VENDOR select (or create) In-
Time Supplier Pte Ltd
Details:
ITEM select Canon Laser Printer
LOT NO. enter 2012-05-01
QTY enter 3
UNIT PRICE enter 400
For Lot No. you can enterany alpha numeric
characters of your choice.
It is limited to 10characters.
TOTAL check for 1,284.00
Click ADD
Created by:Admin Last Modified: Admin 6/25/2013 4:58 PM
Inventory Training . 34
OCI Accounting System
Topic:
2.1.3.4.2 Check Stock Cost of Item with Lot Number
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.3 Understanding Stock Item Costing > 2.1.3.4 What is the use of Lot number? > 2.1.3.4.2 CheckStock Cost of Item with Lot Number
Location Action Remark
Report>
Stock
Click REPORT activity
Click INVENTORY
Click STOCK module
Click REFRESH
Notice that a new line of the sameItem Code appears.
It bears the Lot Number you haveentered.
Both and the Quantity and Cost ismanaged separately from those
without Lot Number.
Created by:Admin Last Modified: Admin 6/25/2013 4:58 PM
35 . Inventory Training
OCI Accounting System
Topic:
2.1.3.4.3 Using Lot Number in your Sales
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.3 Understanding Stock Item Costing > 2.1.3.4 What is the use of Lot number? > 2.1.3.4.3 UsingLot Number in your Sales
Location Action Remark
Sales>
Invoice
Click SALES activity
Click INVOICE module
Click NEW
CUSTOMER select EveryDay
Customer Pte Ltd
Details:
ITEM select Canon Laser Printer
LOT NO. enter 2012-05-01
QTY enter 1
UNIT PRICE enter 800
TOTAL check for 856
Click ADD
Inventory Training . 36
OCI Accounting System
Location Action Remark
Sales>
Invoice
Select the same Invoice
Click EDIT
Click GL
ACCOUNT check for Cost of Goods
Sold is 400
Notice that the costallocated is $400 instead of
$195 from the commonpool.
This is so as the invoice hasspecified the Lot Number in
the sales.
Close General Ledger module
Click UNDO for Invoice
Created by:Admin Last Modified: Admin 6/25/2013 4:59 PM
37 . Inventory Training
OCI Accounting System
2.1.4.1 Issuing Receive Order & Supplier’s Invoice with Different Costing2.1.4.2 How do you Adjust Unbilled Inventory value ?2.1.4.3 How can you avoid having values posted to Unbilled Inventory?
2.1.4 Managing Unbilled Inventory
For the same Stock Items and quantities, Unbilled Inventory is a result of the difference in total value purchased, that you have earlier entered; in ReceiveOrder compared to value of the actual Supplier Invoice.
Inventory Training . 38
OCI Accounting System
2.1.4.1.1 Receiving Stock Items at $1000 each2.1.4.1.2 Enter the actual Supplier Invoice with Stock Items at $1050 each2.1.4.1.3 Checking for Unbilled Inventory Amount
2.1.4.1 Issuing Receive Order & Supplier’s Invoicewith Different Costing
39 . Inventory Training
OCI Accounting System
Topic:
2.1.4.1.1 Receiving Stock Items at $1000 each
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.4 Managing Unbilled Inventory > 2.1.4.1 Issuing Receive Order & Supplier’s Invoice with DifferentCosting > 2.1.4.1.1 Receiving Stock Items at $1000 each
Location Action Remark
Purchase>
Receive Order
Click PURCHASE activity
Click RECEIVE ORDER module
Click NEW
VENDOR select (or create) In-
Time Supplier Pte Ltd
Details:
ITEM select Dell Desktop
QTY enter 3
UNIT PRICE enter 1000
AMOUNT check for 3,210
Click ADD
Close module
Created by:Admin Last Modified: Admin 6/25/2013 5:01 PM
Inventory Training . 40
OCI Accounting System
Topic:
2.1.4.1.2 Enter the actual Supplier Invoice with Stock Items at$1050 each
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.4 Managing Unbilled Inventory > 2.1.4.1 Issuing Receive Order & Supplier’s Invoice with DifferentCosting > 2.1.4.1.2 Enter the actual Supplier Invoice with Stock Items at $1050 each
Location Action Remark
Purchase>
Receive Order
Click PURCHASE activity
Click SUPPLIER INVOICE module
Click NEW
VENDOR select (or create) In-Time
Supplier Pte Ltd
Click IMPORT
Select RO.12/00000001
Click ADD ALL ROWS
Click BACK
41 . Inventory Training
OCI Accounting System
Location Action Remark
Purchase>
Receive Order
Details:
UNIT PRICE change to 1050
Click ADD
NOTE: This would affect the stock cost. It is just a “Shortcut”, so it depends on your Company Practice.
Created by:Admin Last Modified: Admin 6/25/2013 5:02 PM
Inventory Training . 42
OCI Accounting System
Topic:
2.1.4.1.3 Checking for Unbilled Inventory Amount
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.4 Managing Unbilled Inventory > 2.1.4.1 Issuing Receive Order & Supplier’s Invoice with DifferentCosting > 2.1.4.1.3 Checking for Unbilled Inventory Amount
Location Action Remark
Report>
Trial Balance
Click REPORT activity
Click FINANCIAL
Click TRIAL BALANCE module
Click REFRESH
Unbilled Inventory Account check
for $150
During receipt of goods,the items are cost at
$1000 x 3 = $3000.
However, the actual theSupplier Invoiced at $1050
$1050 x 3 = $3150
The is a difference of
$3150 - $3000 = $150.
The system automaticallyposts it to UnbilledInventory Account.
Created by:Admin Last Modified: Admin 6/25/2013 5:03 PM
43 . Inventory Training
OCI Accounting System
Topic:
2.1.4.2 How do you Adjust Unbilled Inventory value ?
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.4 Managing Unbilled Inventory > 2.1.4.2 How do you Adjust Unbilled Inventory value ?
Location Action Remark
Adjustment>
UnbilledInventory
Click ADJUSTMENT activity
Click CLOSINGS
Click UNBILLED INVENTORY
module
POSTING A/C select Stock
Adjustment
Select an account youwould like the unbilled
inventory amount to beadjusted to.
Click STEP 1 GENERATE
Click STEP 2 POST
CONFIRM POST UNBILL click YES
POST DONE click OK
Close module
Inventory Training . 44
OCI Accounting System
Location Action Remark
Report>
Trial Balance
Click REPORT activity
Click FINANCIAL
Click TRIAL BALANCE module
Click REFRESH
STOCK ADJUSTMENT check for
$150
UNBILLED INVENTORY ACCOUNT
check for $0
Close module
Created by:Admin Last Modified: Admin 6/25/2013 5:04 PM
45 . Inventory Training
OCI Accounting System
Topic:
2.1.4.3 How can you avoid having values posted to UnbilledInventory?
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.4 Managing Unbilled Inventory > 2.1.4.3 How can you avoid having values posted to UnbilledInventory?
NOTE: Since the Unbilled Inventory value happens when there is a difference between Receive Order and Supplier Invoice,you can amend the value of Receive Order to be the same as Supplier Invoice. Hence, Unbilled Inventory will have zero value.
Created by:Admin Last Modified: Admin 6/25/2013 4:48 PM
Inventory Training . 46
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2.1.5.1 Issuing a Delivery Order2.1.5.2 Undering Stock Report after Delivery Order2.1.5.3 Issuing a Sales Invoice2.1.5.4 Undering Stock Report after Invoice
2.1.5 Impact of Deliveries on Stock
47 . Inventory Training
OCI Accounting System
Topic:
2.1.5.1 Issuing a Delivery Order
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.5 Impact of Deliveries on Stock > 2.1.5.1 Issuing a Delivery Order
Location Action Remark
Sales>
Delivery Order
Click SALES activity
Click DELIVERY ORDER module
Click NEW
CUSTOMER select EveryDay
Customer Pte Ltd
Details:
ITEM select Canon Laser Printer
QTY enter 8
UNIT PRICE enter 300
ITEM select Dell Desktop
QTY enter 2
UNIT PRICE enter 1500
Click ADD
Close module
Created by:Admin Last Modified: Admin 6/25/2013 4:45 PM
Inventory Training . 48
OCI Accounting System
Topic:
2.1.5.2 Undering Stock Report after Delivery Order
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.5 Impact of Deliveries on Stock > 2.1.5.2 Undering Stock Report after Delivery Order
Location Action Remark
Report>
Stock
Click REPORT activity
Click INVENTORY
Click STOCK module
Click REFRESH
QUANTITY
CANON LASER PRINTER is 10
DELL DESKTOP is 3
Notice that quantities ofthe items are not deducted
with Delivery Orders.
This is so that in accountingwise, you still own the
items till you have invoicedyour customer.
DO QUANTITY
CANON LASER PRINTER is 8
DELL DESKTOP is 2
Delivery Orders quantitiesare separately managed in
DO Quantity column.
These are the quantitiesdelivered yet to invoice.
Close module
Created by:Admin Last Modified: Admin 6/25/2013 4:45 PM
49 . Inventory Training
OCI Accounting System
Topic:
2.1.5.3 Issuing a Sales Invoice
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.5 Impact of Deliveries on Stock > 2.1.5.3 Issuing a Sales Invoice
Location Action Remark
Sales>
Invoice
Click SALES activity
Click INVOICE module
Click NEW
CUSTOMER select EveryDay
Customer Pte Ltd
Click IMPORT
Select DO.12/00000001
Click ADD ALL ROWS
Click BACK
Click ADD
Close module
Created by:Admin Last Modified: Admin 6/25/2013 4:45 PM
Inventory Training . 50
OCI Accounting System
Topic:
2.1.5.4 Undering Stock Report after Invoice
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.5 Impact of Deliveries on Stock > 2.1.5.4 Undering Stock Report after Invoice
Location Action Remark
Report>
Stock
Click REPORT activity
Click INVENTORY
Click STOCK module
Click REFRESH
QUANTITY
CANON LASER PRINTER is 2
DELL DESKTOP is 1
Notice that quantities ofthe items are now
deducted upon invoiced.
DO QUANTITY
CANON LASER PRINTER is 0
DELL DESKTOP is 0
This means that there areno outstanding quantitiesdelivered yet to invoice.
Click ADD
Close module
Created by:Admin Last Modified: Admin 6/25/2013 4:44 PM
51 . Inventory Training
OCI Accounting System
2.1.6.1 How can I check Stock status while Invoicing?2.1.6.2 How can I check past Item Pricing while Invoicing?2.1.6.3 Can I issue a Credit Note for a Stock Item without affecting myStock Account?2.1.6.4 How are stock items assigned to a certain warehouse or location?
2.1.6 Others
Inventory Training . 52
OCI Accounting System
Topic:
2.1.6.1 How can I check Stock status while Invoicing?
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.6 Others > 2.1.6.1 How can I check Stock status while Invoicing?
Location Action Remark
Sales>
Invoice
Click SALES activity
Click INVOICE module
Click NEW
CUSTOMER select EveryDay
Customer Pte Ltd
Detail:
ITEM select Canon Laser Printer
Click [S]
Stock Search
QUANTITY
You will be able to view thequantities
Note that should you like topick on another item, youjust need to click on the
item and click OK.
Created by:Admin Last Modified: Admin 6/25/2013 4:40 PM
53 . Inventory Training
OCI Accounting System
Topic:
2.1.6.2 How can I check past Item Pricing while Invoicing?
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.6 Others > 2.1.6.2 How can I check past Item Pricing while Invoicing?
Location Action Remark
Sales>
Invoice
Click [$]
Price:
AMOUNT
Notice the list of pricespreviously invoiced are
listed.
Alternatively:
You can select for Othersor ALL Business Partners.
You can also select otherDocument like Quotation.
Click OK
Click UNDO
Close module
Created by:Admin Last Modified: Admin 6/25/2013 4:40 PM
Inventory Training . 54
OCI Accounting System
Topic:
2.1.6.3 Can I issue a Credit Note for a Stock Item withoutaffecting my Stock Account?
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.6 Others > 2.1.6.3 Can I issue a Credit Note for a Stock Item without affecting my Stock Account?
Location Action Remark
Sales>
Credit Note
Click SALES activity
Click CREDIT NOTE module
Click NEW
AFFECT INVENTORY Tick on it if you are issuinga Credit Note for goods
return and you would liketo take in the stock item.
If the item is not return orthat you are merely issuinga Credit Note for discount,
you need not tick on it.
Click UNDO
Close module
Created by:Admin Last Modified: Admin 6/25/2013 4:40 PM
55 . Inventory Training
OCI Accounting System
Topic:
2.1.6.4 How are stock items assigned to a certain warehouse orlocation?
Home > Inventory Training > 2 Get Set... & Go!!! > 2.1.6 Others > 2.1.6.4 How are stock items assigned to a certain warehouse or location?
Location Action Remark
Purchase>
SupplierInvoice
Click PURCHASES activity
Click SUPPLIER INVOICE module
Click NEW
Details:
ITEM select Canon Laser Printer
WAREHOUSE select Changi
LOCATION select Rack 1
You will be able to assignto the respective
Warehouse or Location byselecting them during your
purchasing process.
In the similar approach,they are issued out while
doing the Delivery Order orSales Invoice.
Click UNDO
Close module
Created by:Admin Last Modified: Admin 6/25/2013 4:39 PM
Inventory Training . 56
OCI Accounting System
3.1 Stock Adjustment3.2 Stock Report
3 Result & Others
57 . Inventory Training
OCI Accounting System
3.1.1 What are Types of Adjustment?3.1.2 How do you transfer Stock from one Warehouse to another?3.1.3 What should you do with Stock Items Found?3.1.4 How can you Adjust the Stock Cost?3.1.5 How do you do an update after Stock Check?
3.1 Stock Adjustment
Inventory Training . 58
OCI Accounting System
Topic:
3.1.1 What are Types of Adjustment?
Home > Inventory Training > 3 Result & Others > 3.1 Stock Adjustment > 3.1.1 What are Types of Adjustment?
Location Action Remark
Setup>
AdjustmentType
Click SETUP activity
Click ITEM DETAILS
Click ADJUSTMENT
TYPE module
Click NEW
TYPE select …
… NEW This is meant for you add new item in tothe stock list.
… ADJUSTMENT This is meant for you to adjust thequantity or cost of a stock item
… COST
ADJUSTMENT
This is meant you to adjust the stock costof the item
… MOVEMENT This is for you to move stock itemsbetween warehouse or locations within
warehouse.
Click UNDO
Created by:Admin Last Modified: Admin 7/2/2013 3:03 PM
59 . Inventory Training
OCI Accounting System
Topic:
3.1.2 How do you transfer Stock from one Warehouse toanother?
Home > Inventory Training > 3 Result & Others > 3.1 Stock Adjustment > 3.1.2 How do you transfer Stock from one Warehouse to another?
Location Action Remark
Setup>
AdjustmentType
Click NEW
CODE enter MOVT
DESCRIPTION enter
Transfer
A/C select EXP2000 Should there be any difference instock cost during the transfer, it willbe posted to this selected Account.
TYPE select Movement
Click ADD
Inventory Training . 60
OCI Accounting System
Location Action Remark
Setup>
StockAdjustment
Click ADJUSTMENT activity
Click ADJUSTMENT
Click STOCK ADJUSTMENT
module
Click NEW
MODE select SINGLE Should you have more than oneitem required to transfer, select
MULTI
TYPE select MOVT
Click [S]
ITEM select Canon Laser
Printer
QUANTITY enter 1
WAREHOUSE select Changi
LOCATION select Rack 2
Click ADD
61 . Inventory Training
OCI Accounting System
Location Action Remark
Report>
Stock
Click REPORT activity
Click INVENTORY
Click STOCK module
Click REFRESH
Note that 1 set of Canon LaserPrinter is now transferred to
Changi warehouse.
Created by:Admin Last Modified: Admin 7/2/2013 3:05 PM
Inventory Training . 62
OCI Accounting System
Topic:
3.1.3 What should you do with Stock Items Found?
Home > Inventory Training > 3 Result & Others > 3.1 Stock Adjustment > 3.1.3 What should you do with Stock Items Found?
Location Action Remark
Setup>
AdjustmentType
Click NEW
CODE enter ADD
DESCRIPTION enter Add
Stock
A/C select EXP2000 When stock is added/debited toinventory account, the account
selected will be Credited.
TYPE select New
Click ADD
63 . Inventory Training
OCI Accounting System
Location Action Remark
Setup>
StockAdjustment
Click NEW
TYPE select ADD
ITEM select Canon Laser
Printer
QUANTITY enter 10
UNIT COST enter 190
Click ADD
Location Action Remark
Report>
Stock
Click REFRESH Note that Canon Laser Printerquantity is now 11 sets cost is
now 190.454
Inventory Training . 64
OCI Accounting System
Created by:Admin Last Modified: Admin 6/25/2013 4:36 PM
65 . Inventory Training
OCI Accounting System
Topic:
3.1.4 How can you Adjust the Stock Cost?
Home > Inventory Training > 3 Result & Others > 3.1 Stock Adjustment > 3.1.4 How can you Adjust the Stock Cost?
Location Action Remark
Setup>Itemdetails>
AdjustmentType
Click NEW
CODE enter COST
DESCRIPTION enter Cost
Adjustment
A/C select EXP 3100-
Transportation
This is to adjust the stock cost.
TYPE select Cost
Adjustment
Click ADD
Inventory Training . 66
OCI Accounting System
Location Action Remark
Adjustment>
StockAdjustment
Click NEW
TYPE select COST
Click [S]
ITEM select Canon Laser
Printer
TOTAL COST enter 1,200
Click ADD
Location Action Remark
Report>
Stock
Click REFRESH Note that the total cost for CanonLaser Printer is adjusted to
$1,200
67 . Inventory Training
OCI Accounting System
Created by:Admin Last Modified: Admin 6/25/2013 4:35 PM
Inventory Training . 68
OCI Accounting System
Topic:
3.1.5 How do you do an update after Stock Check?
Home > Inventory Training > 3 Result & Others > 3.1 Stock Adjustment > 3.1.5 How do you do an update after Stock Check?
Location Action Remark
Setup>
AdjustmentType
Click NEW
CODE enter ADJ
DESCRIPTION enter
Adjustment
A/C select EXP2000 Any difference in cost will beadjusted to this account.
TYPE select Adjustment
Click ADD
Close module
69 . Inventory Training
OCI Accounting System
Location Action Remark
Adjustment>
StockAdjustment
Click NEW
TYPE select ADJ
Click [S]
Select Dell Desktop
QUANTITY enter 5
Click ADD
Close module
Location Action Remark
Report>
Stock
Click REFRESH Note that Dell Desktop quantity isnow 5 with total cost of 5000.
Inventory Training . 70
OCI Accounting System
Created by:Admin Last Modified: Admin 6/25/2013 4:34 PM
71 . Inventory Training
OCI Accounting System
3.2.1 Stock Report3.2.2 Stock Detail Report
3.2 Stock Report
Inventory Training . 72
OCI Accounting System
Topic:
3.2.1 Stock Report
Home > Inventory Training > 3 Result & Others > 3.2 Stock Report > 3.2.1 Stock Report
Location Action Remark
Report>
Stock
Click REPORT activity
Click INVENTORY
Click STOCK module
Click REFRESH
The report shows the latest stockstatus of all stock items.
Note that you may enter at Filterto search for specific Lot No.,
Warehouse or Location.
Created by:Admin Last Modified: Admin 6/25/2013 4:33 PM
73 . Inventory Training
OCI Accounting System
Topic:
3.2.2 Stock Detail Report
Home > Inventory Training > 3 Result & Others > 3.2 Stock Report > 3.2.2 Stock Detail Report
Location Action Remark
Report>
Stock
Click REPORT activity
Click INVENTORY
Click STOCK DETAIL module
Click REFRESH
Top List:
Click on Canon Laser Printer
Bottom List:
Document transactions will
be listed out.
Once the item is selected at toplist, detail of the past documenttransactions affecting this stock
item will be listed.
At the bottom list, note that youare able to click on the Document
No. to drill down for furtherinvestigation.
Created by:Admin Last Modified: Admin 6/25/2013 4:32 PM
Inventory Training . 74
OCI Accounting System
3.3.1 In P&L, how can you differentiate Stock & Service Sales?
3.3 Financial Report
75 . Inventory Training
OCI Accounting System
Topic:
3.3.1 In P&L, how can you differentiate Stock & Service Sales?
Home > Inventory Training > 3.3 Financial Report > 3.3.1 In P&L, how can you differentiate Stock & Service Sales?
Location Action Remark
Report>
Financial
Click REPORT activity
Click FINANCIAL
Click PROFIT/LOSS module
Click REFRESH
INCOME
Cost of goods
Expenses
Close module
Created by:Admin Last Modified: Admin 6/25/2013 4:32 PM
Inventory Training . 76
OCI Accounting System
3.4.1 What are Categories for?3.4.2 How do you setup Uncontrolled Categories?3.4.3 How do you setup Controlled Categories?3.4.4 Assigning Stock Item to Category
3.4 Item Categories
77 . Inventory Training
OCI Accounting System
Topic:
3.4.1 What are Categories for?
Home > Inventory Training > 3.4 Item Categories > 3.4.1 What are Categories for?
Categories are for grouping of your stock items for reporting purpose.
Following is an example how you can make use of it.
Type \ Brand Dell IBM Canon
Computer aDesktop Series
Notebook Series
aDesktop Series
Notebook Series
r
Printer aInkjet Series
Laser Series
r a
Inkjet Series
Laser Series
Created by:Admin Last Modified: Admin 6/25/2013 4:11 PM
Inventory Training . 78
OCI Accounting System
Topic:
3.4.2 How do you setup Uncontrolled Categories?
Home > Inventory Training > 3.4 Item Categories > 3.4.2 How do you setup Uncontrolled Categories?
Location Action Remark
Setup>
ItemsCategory 1
Click SETUP activity
Click ITEM DETAILS
Click ITEM CATEGORY 1
module
Click NEW
CODE enter B001
DESCRIPTION enter Dell
Click ADD
79 . Inventory Training
OCI Accounting System
Location Action Remark
Setup>ItemDetails>
ItemsCategory 1
Click NEW
Repeat the process for the
following
CODE enter B002
DESCRIPTION enter Canon
CODE enter B003
DESCRIPTION enter IBM
Created by:Admin Last Modified: Admin 6/25/2013 4:10 PM
Inventory Training . 80
OCI Accounting System
Topic:
3.4.3 How do you setup Controlled Categories?
Home > Inventory Training > 3.4 Item Categories > 3.4.3 How do you setup Controlled Categories?
Location Action Remark
Setup>
ItemsDetails>Item
Category 2
Click SETUP activity
Click ITEM DETAILS
Click ITEM CATEGORY 2
module
Click NEW
CODE enter T001
DESCRIPTION enter
Computer
CONTROLLED click Tick
Controlled is Ticked so thatCategory 3 list is limited base on
Category 2
Click ADD
81 . Inventory Training
OCI Accounting System
Location Action Remark
Setup>
ItemsDetails>Item
Category 2
Click NEW
Repeat the process for the
following
CODE enter T002
DESCRIPTION enter Printer
CONTROLLED click Tick
Click ADD
Close module
Location Action Remark
Inventory Training . 82
OCI Accounting System
Setup>
ItemsDetails>Item
Category 3
Click SETUP activity
Click ITEM DETAILS
Click ITEM CATEGORY 3
module
Click NEW
CODE enter S001
DESCRIPTION enter Desktop
ITEM CATEGORY 2 select
Computer
This means that Desktop willbe listed if Computer is
selected for Item Category 2.
Click ADD
Location Action Remark
Setup>
ItemsDetails>Item
Category 3
Click NEW
CODE enter S002
DESCRIPTION enter Notebook
ITEM CATEGORY 2 select
Computer
Click ADD
83 . Inventory Training
OCI Accounting System
Location Action Remark
Setup>
ItemsDetails>Item
Category 3
Click NEW
CODE enter S003
DESCRIPTION enter Inkjet
ITEM CATEGORY 2 select
Printer
Click ADD
Location Action Remark
Setup>
ItemsDetails>Item
Category 3
Click NEW
CODE enter S004
DESCRIPTION enter Laserjet
ITEM CATEGORY 2 select
Printer
Inventory Training . 84
OCI Accounting System
Click ADD
Close module
Created by:Admin Last Modified: Admin 6/25/2013 4:09 PM
85 . Inventory Training
OCI Accounting System
Topic:
3.4.4 Assigning Stock Item to Category
Home > Inventory Training > 3.4 Item Categories > 3.4.4 Assigning Stock Item to Category
Location Action Remark
Setup>
Items Details
Click ITEM module
Select Canon Laser PrinterItems Details
>Item
Select Canon Laser Printer
Click EDIT
CATEGORY 1 select Canon
CATEGORY 2 select Printer
CATEGORY 3 select Laserjet Notice that only Inkjet orLaserjet is available for
selection.
This is due to the controlledsetting.
Created by:Admin Last Modified: Admin 6/25/2013 4:05 PM
Inventory Training . 86
OCI Accounting System