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  #1  
Old 08-11-2009, 06:32 AM
whodat7 whodat7 is offline
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Mass Inventory Adjustment

We have been using Peachtree for years now but have never used it to keep track of inventory. I'd like to start the process of doing that now but I have years of bad data associated with the thousands of inventory items (many of which aren't even good part numbers anymore) in my program.

Is there a way to zero out the quantities for every inventory item in the system in one fell swoop? Then I could do a physical inventory count and put those amounts in. It looks like I can do it one at a time with an inventory adjustment, but that would take weeks if not months to complete.

We're using Premium v.2010 btw.

Thanks
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  #2  
Old 08-11-2009, 08:13 AM
CraigFL CraigFL is offline
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I'm not an expert at this but I would export all the inventory items to Excel, set them all to zero, import them back to PT, do the inventory, then change the corrected, nonzero items, then import again. Or just do it in one shot. Of course the timing is critical...
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  #3  
Old 08-11-2009, 08:15 AM
sbrader sbrader is offline
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whodat7,
Lisa Peterson, a certified consultant out of Minneapolis, addressed this in a forum over at community.peachtree.com. Search for importing beg. inventory Qty on hand. She lists what fields you should export then modify in Excel and re-import.

Scott
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  #4  
Old 08-11-2009, 11:18 AM
whodat7 whodat7 is offline
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I exported to excel but there is apparently no column relating to Qty on Hand or Qty Available
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  #5  
Old 08-11-2009, 11:42 AM
sbrader sbrader is offline
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Make sure you are exporting the Adjustments Journal from the Inventory section. That includes the necessary fields.

Scott
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  #6  
Old 08-12-2009, 02:15 PM
rick Prindivill rick Prindivill is offline
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This task that you are going to take on is a multi-faceted one. So, create a plan and be sure to backup your data files before proceeding.

Send to Excel the Inventory Valuation Report. You may want to exclude some columns to make the exported report more manageable.

Review the current General Ledger values on the Balance Sheet for Inventory and the Cost of Goods Sold on the Income Statement before starting any adjustments. These two accounts are going to be impacted by your Inventory Adjustments, resulting in a higly potential financial impact on your bottom line.

Introduce a single Inventory Adjustment for one Item that has a balance bringing the current balance to 0.00 or zero. NOTE - the Transaction Date of the Adjustment as this is critical for financial reporting. Export this ONE Inventory Adjustment Journal entry and examine the information and data layout in Excel. Delete the test Inventory Adjustment in Peachtree, using the LIST Icon.

Consider exporting to Excel the Inventory ITEM LIST c/w GL Account Listings (Sales, Inventory & Cost of Sales) for the various ITEM CLASSES to verify and or correct the current settings. This modifiied list can be imported under Inventory - Item List.

Also, check and adjust the Maintain - Default Information - Inventory - GL Account listings, used for new Item setup. Correct as necessary.

Consider adjusting and importing all Items to a quantity of Zero 0.00 as an Inventory Journal, on say the 30th of the month and then import the same list reflecting the actual quantities, Costs etc on the 31st of the month. Ideally, no other Purchases, Sales, etc. would happen on these two calendar days.

When finished with the Inventory Adjustments, you will probably have to make a General Journal Entry to adjust your financials to read correctly. You would be well adviced speaking to your CPA before embarking on such an endeavor.
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  #7  
Old 08-14-2014, 10:58 AM
BigMike BigMike is offline
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I realize this is an old thread but I'm struggling on how to do this in Sage50 Quantum 2013 and I've been searching with no luck so far.

Quote:
Originally Posted by whodat7 View Post
I exported to excel but there is apparently no column relating to Qty on Hand or Qty Available
^ This is what I'm looking for. I'd like to export exactly what my inventory counts are per inventory item.

Quote:
Originally Posted by sbrader View Post
Make sure you are exporting the Adjustments Journal from the Inventory section. That includes the necessary fields.

Scott
^ The problem with this is that this only shows the adjustments to my inventory, NOT my actual inventory count of each item.

How are you guys exporting inventory counts for all your items? I am new to Sage & Peachtree and I just can't fathom that software like this doesn't have this extremely basic functionality.

Quote:
Originally Posted by rick Prindivill View Post
Send to Excel the Inventory Valuation Report.
My Quantum doesn't have this as an exportable option (I realize I'm in the Premium Accounting section).

Thank you in advance for the help!

Regards,
BigMike

Last edited by BigMike; 08-14-2014 at 11:01 AM.
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  #8  
Old 08-19-2014, 03:01 PM
jdierkhising jdierkhising is offline
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You should be able to get the information you are looking for by running the Physical Inventory List Report under Reports/Inventory. Then modify the report to include columns for Qty Avail and Qty on Hand. There are other ways to get this same info so it is definitely possible but I think this would be the easiest way.
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  #9  
Old 08-25-2014, 01:17 PM
BigMike BigMike is offline
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Quote:
Originally Posted by jdierkhising View Post
You should be able to get the information you are looking for by running the Physical Inventory List Report under Reports/Inventory. Then modify the report to include columns for Qty Avail and Qty on Hand. There are other ways to get this same info so it is definitely possible but I think this would be the easiest way.
This works great, thank you very much jdierkhising!

BigMike
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