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ORACLE INVENTORY11i

March 2009

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ORACLE INVENTORYContents

Introduction....................................................................................................2

Inventory Concepts .......................................................................................3

Background to Inventory Accounting..........................................................4

Purchase Order for Inventory Item...............................................................5

Receipt of Inventory Item............................................................................ 12

Return of Inventory Item .............................................................................14

Payment of Inventory Item..........................................................................16

Issuing Stock from Stores ..........................................................................17Grant/Project Issues.............................................................................................17

General Ledger Account - Miscellaneous Issues or Receipts .........................22

On Line Enquiries ........................................................................................26

Transaction Summaries.......................................................................................26

On-Hand Item Availability ....................................................................................28

Material Transactions...........................................................................................29

Inventory Reports ........................................................................................31

Year End Procedure.....................................................................................35

Physical Inventory................................................................................................35

Snapshot:..............................................................................................................36

Generating Physical Inventory Tags...................................................................37

To Print the Tags: .................................................................................................39

Physical Inventory Tag Counts ...........................................................................39

Physical Inventory Adjustments.........................................................................40

Processing Physical Inventory Adjustments.....................................................42

Appendix I Getting Help ...........................................................................44

Appendix II - The Toolbar............................................................................45

Appendix III Keyboard Shortcuts ............................................................46

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Introduction

This user guide assumes familiarity with navigating within Oracle Financials, eithergained through attendance on the Navigation Course, or through having read theNavigating within Oracle Financials document. In addition, appendices areincluded at the end of this guide to provide assistance in getting help and using thetoolbar and keyboard shortcuts.

Familiarity with the Microsoft Windows environment is also assumed, as well as anunderstanding of basic Windows terminology, such as clicking and doubleclicking.

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Inventory ConceptsThe Oracle Inventory module allows a department to track the receipt and issue ofstock items from the Purchase Order stage through to the issue from the

departmental stores.

Item details are held in the Master List within the College Central Organisation (ML).The Master Item List contains all the stock items purchased and sold. Stock itemscan only be created within this Organisation. Once created the stock items areassigned to the correct departmental Inventory Organisation. This is done by theInventory Module Leader.

Items are purchased using the standard Purchase Order screens. Item attributesensure that when the item is received, the stock levels are updated in the appropriateInventory Organisation, i.e. Oracle Inventory increases the quantity of item in theSub-inventory Organisation.

When inventory items are set up, they have associated with them a Unit of Measure,which is known as the Primary Unit of Measure e.g. Each, Pack, or Bottle etc. ThePrimary Unit of Measure is the Unit of Measure in which the item is purchased.Additionally, each item can have a Unit of Measure conversion associated with it sothat packs can be broken down and issued individually for example.

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Background to Inventory AccountingEach Departmental Inventory Organisation (Store) will have several accounts torecord the accounting entries arising from the different Inventory transactions.

Main Stores balance sheet account:This account is used to record the receipt and issue of inventory items and thebalance on this account represents the current stock value. Costs are recorded on anaverage cost basis.

Expense Account:This account is used to record the running costs of the stores.

Invoice Price Variance Account:The inventory module updates the stock value based on receipt quantity at thepurchase order price. Any difference between the purchase order price and theactual invoice price (plus VAT) as appropriate is recorded in this account.

ACCOUNTING FOR INVENTORY STOCKS

Purchasing:When items are purchased the cost is charged against the stores balance sheetaccount. This account is associated with the item and will default into the accountingflex field in the purchase order distributions window.

Receipt of Goods:Upon the receipt of the goods the item is received into the store via the Inventory

Module. The stock is updated based quantity received at the purchase order priceplus VAT (as appropriate).

The stock level is updated by a periodic process, which runs in the Cost Managerevery few minutes.

An entry is also created in the departmental Inventory Accrual account based on thereceipt quantity and purchase order price to reflect the money due to the supplier forthe goods received.

Payment of Invoices for Inventory ItemsAs previously mentioned when the goods are received into the Inventory organisation

an entry is created in the Inventory AP accrual account (based on receipt quantity atPO price).

The Inventory accrual account defaults into the accounting flex field when the invoiceis being paid (payment of the supplier invoice is done in the Accounts PayableModule using the appropriate responsibility).

When the invoice is paid, any difference in the price of the goods on the purchaseorder and that on the invoice is automatically posted to the Invoice Price Varianceaccount hence, any extra costs or profits are collected in the correct place.

Stock Issues:

On issue, the cost of the item is debited to the account of the person to whom thestock is issued and credited to the stores balance account.

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Purchase Order for Inventory Item

In order to enter Purchase Orders for Inventory Items, you must be set up as a Buyerand must have selected the responsibility of PO Buyer.

In the Navigator Window, expand Purchase Orders and open PurchaseOrders by double clicking on them or by clicking on them and clicking on Open.

Leave the PO, Rev fields blank, as these fields will be automatically generated.

Enter the name of the Supplier or choose their name from the List of Values. Ifthe supplier has more than one site, you must select the correct one from the Listof Values; otherwise this field will be automatically populated with the suppliersite address. If you are unsure whether the address on the system is the sameas the address you wish to use it is possible to display the suppliers full postal

address. Choose View Supplier Address from the Inquire menu. If you openthe supplier window to view the supplier address, close this window beforecontinuing.

If the address is not the one to which you wish to send the order, and no otheraddresses are on the system for this supplier, email newsuppliers@ucl.ac.uk inorder for the correct address to be made available on the system. Details of theinformation required for setting up new suppliers can be found on the FISwebsite.

In the Ship To field, enter the correct destination for the goods or choose it fromthe List of Values. Note: This address must be the departmental storesaddress.

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In the Bill To field, enter the correct Bill To address or choose it from the List ofValues.

mailto:newsuppliers@ucl.ac.ukmailto:newsuppliers@ucl.ac.uk

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The Description field is an optional free text field this means that you are notrestricted to particular descriptions but can type in whatever is appropriate.

Note: This field is provided in order to enable you to search for the Purchase Orderat a later date and is designed to contain a summary of the order for instance:

Stationery Order. This description will not appear on the printed order since each ofthe items on the order will have specific descriptions.

Click in the Num field in the lower section of the window to generate a linenumber.

The Type field will automatically be filled in to say Goods.

In the Item field enter the InventoryItem Code and press Tab.

The Category will automatically be entered in the Category field, a description of the

item will default into the Description field, the purchase unit of measure will beentered in the UOM field, and the cost per item (ex Vat) will default into the UnitPrice field. This price is the system price for the item, if it is incorrect please amend itto the correct price (ex Vat) and then send an email to the Inventory Module Leaderwho will update the system price so that the new price will default on future orders.

Enter the number required in the Quantity field.

If you have been promised a date by which the goods will be delivered, enter thisdate in the Promised field, or select the correct date from the Calendar(generated by opening the List of Values).

Use the arrows on

the right to scroll

between the years

Use the arrows on

the left to scroll

between months

It is possible to enter the date by which the order is required in the Need by field,either by typing it in or by selecting the date from the Calendar.

Note: The Promised and Need by dates are for reference only and do not print outon the approved purchase order.

Click on the Shipments button and the Shipments screen will be displayed.

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Enter details of the Purchase Order requestor and delivery information if desired.

Click in the Sub inventory field, click on the List of Values button or press Ctrl& L. This will generate the Sub inventory details. Ensure it is the correct subinventory for your department.

Click in the Charge Account field. The correct stores account should enterautomatically.

Save this record by clicking on the Save button on the Toolbar.

Enter any other items you wish to be included on the order and complete theShipments and Distributions details for them.

Close the distributions window.

Close the shipments window.

Click on the Approve button to open the Approve Document window.

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If you need to forward the order to an authorised signatory for approval, select thecheck box next to Forward.

The Forward From, Approval Path and Forward To fields are automaticallyfilled in. However, you must ensure that the correct name is in the Forward Tofield. To change the name, either delete the existing name and type in the correctname as it exists in the system, or select it from the List of Values. Please useCtrl & L, or choose List of Values from the Edit menu to select the name fromthe List of Values.

The Forward To field is case sensitive and the name must be entered in exactlythe same format as it appears on the system, selecting the name from the List ofValues ensures that the correct format is selected.

If you do not enter the name in the correct format a message will appear in the greybar at the bottom of the screen as shown below:

Delete the incorrect name from the Forward To field and re-enter the name inthe correct format.

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Click on OK.

If other internal control mechanisms apply and you are able to create andapprove your own documents with the authorisation of the Head of Department,simply click on the OK button and do not select the Forward check box.

A note will appear to tell you that the document has been submitted for approval.

Click on OK.

REQUESTING A PO AUTOMATICALLY PRINTED WHENAPPROVED

When submitting an order for approval it is possible to request that the order or orderand VAT Certificate are automatically printed out once the order has been approved.

The Approve Document window now includes a Print PO and VAT Certiciate fieldswhich when checked will automatically submit a concurrent request to print thePO/VAT Certificate once the order has been approved.

This option requires that there is a valid printer defined in the printer field (if you havea valid printer defined in your profile options this will default in the printer field) andthe number of copies must be greater than 0.Note: This print option uses the default print parameter settings e.g. account code

information and requestor information is not printed out.

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For details on Checking the Status of Purchase Orders, Changing Purchase OrderApprover, Approving Orders and Printing of Purchase Orders refer to the PurchasingUser guide.

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Receipt of Inventory Item To receive inventory items into the Inventory store, switch responsibility to

Inventory.

In the Navigator Window, expand Transactions, then expand Receiving andopen Receipts by double clicking on them or by clicking on them and clicking onOpen

Choose the relevant Organisation from the list which should be yourdepartmental stores.

The Find Expected Receipts Window will open and you will be prompted tosearch for the relevant purchase order for the goods that you have received.

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Type in as much information as you know, (it is sufficent to just enter thePurchase Order Number) and click on the Find button. Do not click on FINDwithout entering any search criteria.

The Receipt Header window will open. Add any additional details that you want

in the Receipt Header and then close the Receipt Header window.

The Receipts window is now displayed enabling you to enter your receipts.

Ensure that the Destination Type field has a value of Inventory.

The quantity quoted on the purchase order will be entered in the Quantity field. Ifonly a partial number has been received, over-write this number with the correctamount.

Select this

check box for

the goods

which have

been received

The Destination Type should be Inventory.

Save your changes by clicking on the Save button on the Toolbar.

Saving the receipt will automatically generate two concurrent processes,Receiving Transaction Processor and Journal Import.

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Return of Inventory Item To return inventory goods you must use the Inventory responsibility.

In the Navigator Window, expand Transactions, then expand Receiving andopen Return by double clicking on them or by clicking on them and clicking onOpen

If prompted, choose the relevant Organisation from the list which should beyour departmental stores.

You will be prompted to search for the relevant purchase order for the goods youhave received.

Type in as much information as you know, and click on the Find button. (Thepurchse number will be sufficient on its own).

The Receiving Returns window will open.

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Select the check box to the left of the Quantity field by clicking in it.

Enter the number of items to be returned in the Quantity field.

In the Return To field, click on the List of Values or press Ctrl & L. Select theoption Supplier and the name of the supplier from which you purchased thegoods will be entered in the Supplier/Customer/Location field.

Save your changes by clicking on the Save button on the Toolbar.

Note: Upon saving return transactions two concurrent requests will automatically begenerated, Journal Import and Receiving Transaction Processor.

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Payment of Inventory Item

Invoices for Inventory Items are paid through the Account Payables module. Thisfunction would be performed with adequate system responsibility in the AccountPayables module.

Refer to the Account Payable User Guide for guidance on payment of Invoices butnote the following:

Ensure the Account defaults to AP Accrual Account which would reverse entry onInventory Accruals Account created when the goods were received.

Any additional charges such as delivery charges should NOT be charged to theInventory AP accrual account but should be charged to the departmental stores

expense account.

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Issuing Stock from Stores

Grant/Project Issues.

Log into Oracle Financials and choose the responsibility of Inventory.

In the Navigator Window expand Transactions and open UCLMisc.Transactions by double clicking on them or by selecting them and clicking on theOpen button.

Choose the correct organisation if prompted (this should be your departmentstores) from the list by double clicking on it or by selecting it and clicking on OK.

Note: If you have already chosen an organisation during your current session, youwill not be prompted to select one, as it will assume you wish to use the same one. Ifat any point you wish to use a different organisation, open Change Organisation

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from the Navigatorwindow, click on the Change Organisation button and selectthe correct organisation from the list.

The Miscellaneous Transaction window will be displayed.

In the Type field, enter Grants/Project Issues, which can also be selected fromthe List of Values. The List of Values can be opened by pressing and holdingdown the Control (Ctrl) key and pressing the letter L, or by clicking on the List ofValues button on the right hand side of the Type field.

Click on the Transaction Lines button to open the Grant/Project Issue window.A message will appear asking if you wish to find all records in this folder. This isbecause a custom folder has been set up to facilitate the data entry.

Click on Yes to open the Grant Project/Issues window.

Enter the Item Code in the Item field.

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Press the Tab key, or click in the Sub inventory field and click on the List ofValues button or press Ctrl & L. This will automatically enter the correct Subinventory details.

Ensure that you check that the correct Unit of Measure (UOM) is displayed in the

UOM field this should be the unit of issue. For instance, if the item has beenpurchased from the supplier in packs containing ten, but you are issuing themindividually providing that a UOM conversion for the item has been set up thenthe UOM field will display EACH. If this is not the case please contact theInventory module leader before proceeding so that the conversion can be set up.

Note: The conversion between the Primary Unit of Measure (i.e. the Unit ofMeasure in which the item is bought) and selected Unit of Issue will be displayedat the bottom of the screen for the current issue line.

Press the Tab key or click on the Quantity field and enter the quantity to be

issued. If upon entering the quantity the error message shown below is displayedthis indicates that according to the Inventory module there is not sufficient stockto cover the issue quantity.

Do not proceed with the transaction until you have investigated the matter. Do

NOT enter stock issues if they will drive the Inventory negative. The mostcommon cause for this message is that the items have been physically receivedin the stores but the receipt transaction has not yet been entered into theInventory module.

It is not necessary to enter the Unit Price as the system will automatically use theaverage cost as the issue price.

Press the tab key to get to the Account field and open the List of Values (Ctrl &L) to generate the Accounting Flexfield.

Enter the Inventory clearing account for your department stores. If you do notknow details of this account please contact the Inventory Module Leader. This

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ransferred to the relevant grant/projects accounts bythe Grants Module Leader.

m the List of Values and checking thecompletion date of the project.

available, clicking

on the List of Values or pressing Ctrl & L will enter the details.

Analysis Code in the Expenditure Type field or select it from the List ofValues.

ganisation

otherwise the transactions cannot be transferred to the relevant grant.

as two brackets (see example below) to open theTransaction history flex field.

account is used to record Inventory issues to grant/projects accounts. Thetransactions are periodically t

Press the Tab key or click in the Source Project field and enter the Grant/ProjectCode to which the item is to be issued. This can be selected from the List of

Values. Please ensure that the grant is still active. This can be checked byselecting the Grant/Project fro

In the Source Task field, enter the Sponsor Expenditure Category, or choose itfrom the List of Values. Note: If there is only one Source Task

Enter the

Enter thecorrectExpenditure Organisation from the List of Values (Control &L). It is important to ensure that you have the correct expenditure or

Then click in the field which h

Click Here

To enter the Award, select the List of Values in the Award Number field.

The Longlist (LOV) window will open. Enter a % sign in the following windowbefore clicking OK.

The award number will then default into the Award number field.

Enter the Requestor details.

ld to bring up the list of valid reasons from which

you can make your selection.

Optionally enter a reason in the Reason field. Click on the List of Values buttonon the right hand side of the fie

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Optionally enter any additional comments in the Reference field. This is a freetext field and accepts both alpha and numeric characters.

Save your changes by clicking on the Save button. Upon saving the screen willclear this is expected behaviour.

Note: Costs are transferred by running Project Cost Transfers periodically this isdone by the Inventory Module Leader. The Grants module leader is then able totransfer the costs to the relevant grant accounts.

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General Ledger Account - Miscellaneous Issues or Receipts

Log into Oracle Financials and choose the responsibility of Inventory.

In the Navigator Window expand Transactions and open UCL MiscTransactions by double clicking on them or by selecting them and clicking on theOpen button.

Choose the correct organisation (this should be your department stores) from thelist by double clicking on it or by selecting it and clicking on OK.

Note: If you have already chosen an organisation during your current session, youwill not be prompted to select one, as it will assume you wish to use the same one. Ifat any point you wish to use a different organisation, open Change Organisation

from theNavigator window, click on the Change Organisation button and select thecorrect organisation from the list.

The Miscellaneous Transaction window will then appear.

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In the Type field, enter either Miscellaneous Issue or Miscelleaneous Receiptas required or select from the List of Values. The List of Values can be openedby pressing and holding down the Control (Ctrl) key and pressing the letter L, or

by clicking on which appears to the right of the Type field.

Click on the Transaction Lines button.

A message will appear asking if you wish to find all records in this folder. This isbecause a custom folder has been set up to facilitate the data entry.

Click on Yes to open the Miscellaneous Issue window.

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Enter the Item Code in the Item field.

Press the Tab key, or click on the Sub inventory field and click on (located tothe right of the field). This will automatically enter the correct Sub inventorydetails.

Ensure that you check that the correct Unit of Measure (UOM) is displayed in theUOM field, this should be the unit of issue. For instance, if the item has beenpurchased from the supplier in packs containing ten, but you are issuing themindividually providing that a UOM conversion for the item has been set up thenthe UOM field will display EACH. If this is not the case please contact theInventory module leader before proceeding so that the conversion can be set up.

Note: The conversion between the Primary Unit of Measure (i.e. the Unit ofMeasure in which the item is brought) and the selected Unit of Issue will bedisplayed at the bottom of the screen for the current issue line.

Press the Tab key or click on the Quantity field and enter the quantity to beissued. If upon entering the quantity the error message shown below is displayedthis indicates that according to the Inventory module there is not sufficient stockto cover the issue quantity.

Do not proceed with the transaction until you have investigated the matter. DoNOT enter stock issues if they will drive the Inventory negative. The mostcommon cause for this message is that the items have been physically received

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in the stores but the receipt transaction has not yet been entered into theInventory module.

It is not necessary to enter the Unit Price as the system will automatically use theaverage cost as the issue price.

Press the Tab key to get to the Account field and open the List of Values (Ctrl &L) to generate the Accounting Flexfield.

Type in the Account Code to which the item is to be charged/issued in theAccount field, or select it from the List of Values.

Use the Tab key to go to the Analysis field, or click in it with the mouse.

Enter the Analysis Code or select it from the List of Values.

All of the other fields should be entered by default, click on the OK button whencomplete.

Optionally enter a reason in the Reason field. Click on the List of Values buttonon the right hand side of the field to bring up the list of valid reasons from whichyou can make your selection.

Optionally enter any additional comments in the Reference field. This is a freetext field and accepts both alpha and numeric characters.

Enter the name of the Requestor in the Transaction HistoryFlexfield. This willopen if you click in the field marked with square brackets.

Click OK.

Save your changes by clicking on the Save button on the Toolbar. The data issaved and the screen is cleared.

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On Line Enquiries

Transaction Summaries

In the Navigator Window, expand Transactions and open TransactionSummaries by double clicking on them or by selecting them and clicking onOpen.

Choose the correct organisation (this should be your department stores) from thelist by double clicking on it or by selecting it and clicking on OK.

Note: If you have already chosen an organisation during your current session,you will not be prompted to select one, as it will assume you wish to use thesame one. If at any point you wish to use a different organisation, open Change

Organisation from the Navigator window, click on the Change Organisationbutton and select the correct organisation from the list.

The Summarise Transactions window will open.

Change the start and end dates if required, or leave the date to enquire on thetransactions completed on todays date.

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Enter the Item Code in the Item field, or choose it from the List of Values. Thiswill provide a summary of transactions for a specific item.

To search for a summary of transactions on all items, enter the date range in thedate fields and Enter the sub inventory in the Subinventory field.

Click on the Summarise button.

This screen will show you the Net Quantity, Net Value and Volume. It also showsyou the total value of items received in the stores and the value of items that wereissued.

For details of individual item transaction information, click on the TransactionDetails button, whilst putting your cursor on the required row.

Use the Blue Tabs in the Material Transactions window to view other details

such as, location, transaction type etc.

Scroll across the window to find out details regarding the date of transaction andthe quantity etc.

It is possible to view account information for the transaction by clicking on theDistributions button.

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On-Hand Item Availability

In the Navigator Window, expand On-Hand Availability and open UCL On-Hand Quantities by double clicking on them or by selecting on them and clicking

on Open.

Choose the correct organisation (this should be your department stores) from thelist by double clicking on it or by selecting it and clicking on OK.

Note: If you have already chosen an organisation during your current session, youwill not be prompted to select one, as it will assume you wish to use the same one. Ifat any point you wish to use a different organisation, open Change Organisationfrom the Navigator window, click on the Change Organisation button and select thecorrect organisation from the list.

The Find On-Hand Quanities window will open.

Enter the Item Code and/or any other details on which you wish to perform asearch.

It is possible to search for range of items on this UCL customised form.Note: if you wish to search for a range of items select Subinventory in thedisplay section of this form.

Click on the Find button.

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Enter the Item Code or Date Range or Transaction Type and/or any otherdetails on which you wish to perform a search.

Click on Find to display the Material Transactions screen which displays a list ofthe transactions matching the search criteria.

Click on the blue tabs to get additional information e.g the transaction type todisplay PO number for PO receipt transactions.

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Inventory Reports

Oracle provides many pre-defined reports in the system. You will only be able to runreports relating to your current responsibility. If you cannot find the report you wish to

run, check that you have chosen the correct responsibility. Please note that OracleFinancials generally refers to reports as requests.

Listed below are the most commonly used reports for transaction information.

Material account distribution report this will give full details of transactionsbased on parameters selected.

Material account distribution summary this will give a summary oftransactions based on parameters selected.

Transaction Value Historical Summary - Average Costing this will givedetails of past item quantities, past item values or past inventory balancesdepending on parameters selected.

All Inventories Value Report this gives the value of the Inventory at the timethe report is run.

Item Quantities summary This report provides a list of items and quantitiesand is a quick way of providing a list of items in Inventory.

Procedure for Running Reports:

In the Navigator Window, expand Reports; select the type of report you wish toRun. You can run Transactions Reports, Cost Reports etc. Selecting the optionAll will enable you to select from the full range of Inventory reports.

A Submit a New Request window will appear to ask whether you want to run a singlerequest or a pre-defined set of requests.

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Click on OK. (Use the default of single request).

In the Name field, open the List of Values (Ctrl & L) to display the possiblereports.

Select the name of the report you wish to run, for instance TransactionHistorical Summary, and click on OK.

A Parameters window will open with criteria fields relevant to the report you haveselected.

Enter as much or as little criteria as required remembering that the more informationyou enter, the narrower and more specific your search will be.

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The following message will appear. Click on Yes or No depending on whetheryou wish to submit another request.

Note: If you select No and you wish to see the status of your report you will need totake following Navigation:

Select View from the toolbar, followed by Requests, this will bring up the

Request window. Click on Find. This will bring up the Request window and you can check the

status of the report request.

If the report is still Pending or Running, the Phase and Status fields will behighlighted in green. This page will not automatically update itself while it is on yourscreen. Click on the Refresh Data button to update it.

To view the report, click on the View Output button. This will launch a webbrowser window to enable you to view the report.

If an error occurs during the running of the report, click on the View Log button.Again, this will launch a web browser to display details about the error.

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Year End ProcedureAt the year-end you will need to perform a stock count and valuation exercise.Physical Inventory is a tool designed to facilitate year-end stock take.

The steps involved are listed in sequence below:

Define a Physical Inventory.

Freeze (take a snapshot of) the stock levels in the store.

Generate Tags for items.

Print the tags to record stock take.

Perform the stock count When performing the count it is thePrimary Unit ofMeasure (i.e. the unit in which the item is purchased) which is used torecord stock quantities, not the Unit of Issue.

Enter the stock levels from the count.

Perform/approve adjustments.

Post the adjustments to the appropriate accounts. Resume Stores operations please check with the Inventory Module Leader

before resuming normal stores operations.

Note: Oracle Inventory does not stop inventory processing during a physicalinventory. Therefore, you must co-ordinate the snapshot of your physical inventorywith your actual counting, and ensure that no transaction activity occurs in aparticular location until after all the stock has been counted.

Physical Inventory

Physical inventory is a stock take tool and is identified by a unique name that youassign during the process. You use this name to identify any activity, such asentering count information and performing adjustments relating to this physicalinventory.

Navigate to Inventory, expand Counting, expand Physical Inventory and openPhysical Inventories by double clicking on them or by clicking on them andclicking on Open.

If prompted selected the correct organization, this should be your department stores.

Click on the New button and the DefinePhysical Inventory Window appears:

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Enter a unique name in the Name Field.

Enter a meaningful description in the Description field.

Choose Alwaysfor the Approvals required box. This means that any adjustmentsrequired to the stock levels will have to be approved.

Other options are to require approval only when the stock count differs from thesystem tracked amount by a set percentage or the adjustment required is greaterthan the tolerance value. All adjustments must be approved.

Select All or Specific for the Count Sub inventories.

Ensure that the Allow Dynamic Tagscheckbox is ticked. Save your work.

You are now ready to take a snapshot of the inventory.

Snapshot:

Freeze (take a snapshot of) stock levels. The snapshot saves all current item on-hand quantities and costs. Oracle Inventory uses this information as the basis for allphysical inventory adjustments. All tag counts you enter for this physical inventoryare compared with these static quantities. This allows you to resume normalinventory operations after you have entered your counts but before you have

authorised all final physical inventory adjustments. You can perform your recount orinvestigate certain results without holding up transaction processing.

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Enter the name of the Physical Inventory use Control & L to bring up the pick

list to enable you to select the correct Physical Inventory.

Select the type of tag to create - accept Default - (Note: Tags will only begenerated for items for which there is an on-hand quantity).

Show Serial on Tags: Ensure this checkbox is ticked.

Enter the starting tag number.

Tag numbers may be alphanumeric, but you can increment only the numericportion.Note:Be sure the tag number contains the total number of possible digits that atag can have. For example, if you have 500 items in stock, the first tag wouldwhere the starting number is to be 1, you would enter 001.

Click the Generate button to create the tag numbers and information (this willgenerate a concurrent request).

Check the request has completed successfully by taking the following navigation:

Click View , in the toolbar at the top of the screen, followed by Requests this willbrings up the Find Requests window.

Click Find, this will bring up the Request window.

Check that the concurrent request has completed successfully, e.g. the phasefield shows COMPLETE and Status field shows NORMAL

Note: This process does not physically print the tags.

IMPORTANT: If you do not wish to print out the tags because you have yourown spreadsheet or list which will be used to record the stock countinformation during the actual stock count you must still generate the tags asthis process populates the Tag Count window with the item information. Youwill use the Tag Count window to enter the count information onto the system.

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Enter the Physical inventory in the Name field. Use Control & L to bring up thepick list to enable you to select the correct Physical Inventory.

Enter the name of the employee that performed the physical inventory in theDefault Counter field.

Enter or query the tag numbers for which to enter counts using one of thefollowing options:

Choose the Find button enter Yes or Noto query all tags.

Enter existing tags individually. When you enter a tag number the iteminformation for that tag appears.

Enter counts for default tags:

Enter count information for each item, this is stock take result.

Save your work.

Entering counts for blank or dynamic tags: (This is for items for which atag was not generated because, either there was no on-hand quantity forthe item recorded in Inventory, or the item is a new item not currently onInventory).

Display physical inventory tag information, in the Tag field.

Go to bottom of list to find next tag number and enter the Tag number.

Enter the item associated with the tag. If the item is a new item it will need to beset up in the Item Master list. Contact the Inventory Module Leader to have theitem set up. A blank tag cannot be entered for this item until the InventoryModule Leader has set up the item in the Item Master List and assigned it to therelevant departmental Inventory Organisation.

Enter the sub inventory in which you counted the item.

Enter the count quantity (number counted) for the tag.

Enter the count unit of measure (UOM).

Enter the name of the employee who counted the item (Counted By).

Save your work.

Physical Inventory AdjustmentsOnce the tag counts have been entered the system will calculate the adjustmentsrequired to up date the stock quantities and value to reflect the results of the

stocktake.

The adjustments must be approved before they can be posted to the stock account.

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Run the Physical Inventory Adjustments Report to give you a list of theadjustments which have been calculated.

Review the Physical Inventory Adjustments Report and investigate as necessary.There may be adjustments listed on this report for which there is anadjustment quantity but no monetary value for the adjustment this is

likely to be the case if you have added blank tags. If this occurs please letthe Inventory Module Leader know as additional processes will need to berun by the Inventory Module Leader to put a monetary value to theadjustment.

APPROVING PHYSICAL INVENTORY ADJUSTMENTS

In the Navigator Window, expand Counting, expand Physical Inventory, openApprove Adjustments by double clicking on them or by clicking on them and thenclicking on Open.

Enter the name of the Physical Inventory in the name field. Use Control & L toselect from the List of Values.

Enter the name of the employee approving the adjustments.

Display the adjustments you want to approve by clicking on the Find button.

Select the item; check the Approve or Reject option. You must Approve or Rejectall adjustments before running the adjustment program. The adjustment programwill not process adjustments until all the lines are approved or rejected.

Note: Even lines where no adjustment is required must be approved.

Save your work.

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Processing Physical Inventory Adjustments

Having approved the Physical Inventory Adjustments the adjustments must beposted to the stock account.

Run the adjustment program:

Make sure you have approved or rejected all adjustments before processing theadjustments. Adjustments will not be posted unless all adjustments have beenapproved or rejected.

In the Navigator Window, expand Counting, expand Physical Inventory, andopen Physical Inventories window.

Click on the Torch icon on the Toolbar to bring up the List of Values and selectthe correct Physical Inventory from the List.

Choose Launch adjustments from the Tools menu. The Launch Adjustmentswindow appears.

Click in the Adjustment Account field and open the Accounting Flexfield byclicking Ctrl & L.

Enter the Adjustment Account number against which adjustments should becharged.

Click on OK.

Enter the adjustment date (this should be no later 31 Jul in the current year).

Choose the Launch Adjustments button to submit the concurrent request toprocess adjustments.

Note the concurrent request number and check that the Request has completedsuccessfully by taking the following navigation:

If the report has not completed successfully contact the Inventory Module Leaderdo not resubmit the report. To check whether the report completed successfullytake the following navigation.

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Appendix I Getting Help

At any point during your work, it is possible to access Help pages related to the workyou are doing. Click on the Help menu and select Window Help. Your web browserwill open and display the Help pages which are related to the Window which wasopen. If this page does not answer the queries you have, try typing in the Searchbar.

Alternatively, try clicking on the Related Topics at the bottom of the page.

If you are confused by any of the jargon used by Oracle, either on the Help pages orin the Oracle Financials application itself, try looking for the word in the Glossary.Note: this Glossary does not provide details of the differences between American andEnglish Accountancy terms, and is not a fully comprehensive list.

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Appendix II - The Toolbar

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Notes: