29 Dec 2022 | Windward Software
Common Problems with Inventory Reconciliation
This Windward Webinar explored common problems and solutions with inventory reconciliation, including overselling, manual stock adjustments, cost adjustments during sales, and not creating bills on POs received within the context of Windward System Five.
- Eugene started the presentation by explaining the concepts of inventory value and inventory ledger. He mentioned that inventory value is derived from the value of inventory received on purchase orders and the sale of inventory. On the other hand, the inventory ledger is affected by bills, invoices, and journal entries.
- He then discussed common problems with inventory reconciliation:
- Overselling: This occurs when an item is sold when there's nothing in stock. It decreases the inventory ledger but does not affect the inventory value. Eugene advised avoiding overselling and ensuring that all stocks are entered into the system before selling.
- Manual stock adjustments: Manually adding or removing stocks affects the inventory value but not the inventory ledger. Eugene recommended using purchase orders when adding stocks and creating a bill to match the purchase order.
- Cost adjustments during sales: This affects the inventory ledger but does not impact the inventory value. Eugene advised against adjusting costs on invoices.
- Not creating bills on POs received: Receiving POs increases the inventory value, but not creating bills leaves the inventory ledger unchanged. Eugene emphasized the importance of creating bills for all POs and ensuring that all bills match the value of the received purchase orders.
- Eugene demonstrated each problem using a demo system and showed how they impact the inventory value and ledger.
- The Q&A session addressed questions about reports that show POs received without a bill posted against it, best practices to avoid overselling, how cycle counts affect the ledger and inventory value, and how to load the Inventory Value Report for year-end comparison. Eugene provided detailed responses to these queries.
0:16
Hello. Good afternoon, everybody.
0:18
Thank you for joining our webinar for today. My name is Ivory, and I'll be your moderator for today's presentation.
0:26
At the end of the presentation, and we'll take some questions, you'll want to enter them in the question box and make sure that they are detailed and specific, just in case. It's a question from something that we need to go over at the side of the presentation.
0:41
And that will also make sure that we know exactly what you're talking about.
0:45
Any questions that we can't answer today, we can answer it offline afterwards or you can e-mail to support at winward software dot com and support can help you out with any questions you have.
0:57
And, also, now, you can access the past webinar presentations and our website. All of the presentations are there at WWW dot windward software dot com slash webinars.
1:09
Everything is in there.
1:11
So, today's presentation, we're going to be discussing common problems with inventory constellation.
1:20
This one is a great topic topic for sure, and our speaker for today is Eugene ..., and he is one of the?
1:29
Is one of the tenure to software.
1:31
It's support technician, and he's actually been in, in support for, um, over four years now. So without further ado, let's get started. Take it away, Eugene.
1:47
Your ivory and yes, hello everybody, welcome to our webinar for today.
1:51
So again, we'll be discussing common problems with inventory, constellation, and yes, I agree that this is a very good topic, especially now.
2:01
A lot of you guys are doing your year end, so this will really be a great help for your year end, alright?
2:09
So, yeah, this webinar will discuss effects of overselling, manual adjustments up quantity costs adjustments during sales, not creating Bale's on a PO received and some others.
2:24
But again, I will just focus on the common ones so there could be more, but yep, well we'll just focus on the common problems.
2:34
So, again, there will be a live demonstration later after the presentation, and then I will also cater questions and answers, all right?
2:42
So, before we get started, I just want to discuss about these two things.
2:49
So, we need to understand what exactly is inventory and system five.
2:55
So, basically, there are two things that we need to look at.
2:58
So, these are the inventory value, and then the other one is the inventory leger.
3:05
So, inventory value is derived from the value of the inventory received on purchase orders, and, of course, the sale of inventory.
3:13
We also want to consider that any adjustment made in the item record, or what we usually reference stock adjustment, will affect the Inventory Value Report.
3:23
The other hand, inventory ledger, so this is your 1200 leger number.
3:29
So, if you're on your trial balance or balance sheet, so usually, 1200 is used for the Inventory Ledger.
3:34
But, if you're using a different ledger than just be referred to your Chart of accounts.
3:40
So Inventory ledger, this is derived from bails created in your system to record Bails received from your supplier.
3:48
So, also Inventory Ledger.
3:52
Basically this is the accounting side of thanks to its, being affected by bails invoices, posting invoices rather such as the accounts receivable type invoiced and cash tripe invoices.
4:04
And also, inventory leger can be effected through journal entries.
4:09
So, that is, if you do Adjustments. All right.
4:21
So, what are the common inventory confirmation problem? So, first is overselling, Second is manual stock adjustments.
4:28
Third S cost adjustment, adjustments during sales and uh, not creating builds on POS received.
4:36
So, what is overselling? So, Overselling is when you're forced to sell an item, when you don't have anything in stock.
4:43
So, this could be because some of the, the person, who is assigned for the inventory or the purchasing, did not enter them into the system and you think you have them because he is physically see them in the store.
4:58
And you sell them, and then only to find out that during the sale, you're being, you know, prompted with a message saying that you don't have anything installed and do you want to oversell this?
5:09
So, Overselling decreases the inventory Leger, so not the inventory value, but the inventory Leger, I'm referring to the 1200, let your number.
5:19
So this is the accounting side.
5:22
So this overselling, it doesn't affect inventory value.
5:27
So once you do that, it causes a mismatch between the inventory ledger and inventory value.
5:32
So, it's really recommended to avoid overselling if you see a prompt about an hour, know, the unappealing bit ability of the stock, and you're forced to oversell it.
5:43
Just verify ish, verify with the inventory team to make sure that they are entering all the items that they have received.
5:52
So now you don't have to do overselling.
5:55
So yeah, make sure all stocks are on. Make sure that all stocks on hand are entered into the system before settling.
6:02
So next one is manual suck adjustments. So manual adding of stocks will increase the inventory value.
6:09
So at this time, it's not the 1200, but the inventory value, inventory value, is what the system thinks you have.
6:17
So manually, removing off stocks will decrease the inventory value and adding or removing, it doesn't affect the inventory ledger.
6:27
So it's really recommended to use PO, purchase orders when adding stocks.
6:32
And you must create a bail that wouldn't match your purchase order in that way.
6:37
Your inventory value and inventory leger will match up.
6:41
So if you really wanted to go with just doing the manual stock adjustments, just make sure that you will enter a bill for it.
6:50
Or if not, you can create a journal entry because that will still allow you to post here 1200 so that, you know, you can still be reconciled.
6:59
And then next is cost adjustment during sales.
7:04
So, it affects the inventory leger, the 1200.
7:10
So, it doesn't affect the inventory value. So, it's recommended not to adjust cost on invoices. Invoice says, again, AR and cash stipend, just because those are posting invoices.
7:22
And then not creating bills on POS receive. So receiving PO increases the inventory value.
7:29
But not creating bails will leave the inventory ledger unchanged.
7:34
So that will then cause a mismatch between the two.
7:37
So all POs, you have to create a bill. And all your bills much must match the value of the purchase order that you have received.
7:47
So anyway, I'll be showing you demonstrations on each one of these so that you can see the behavior.
7:52
And how it affects the atmosphere religion inventory value.
7:56
So let's head over to my demo.
8:00
So, here's my demo. So, let me show you, this is my Trial balance, by the way. So, you can see the list of later accounts and the respective values, so you can see that my 1200 inventory.
8:12
So we have 86,882.4.
8:17
And I will show you the inventory value.
8:21
So, by the way, you might be confused why it looks different. So, actually, this is the stock landed value report.
8:28
So, I mean, I will be using this asset, represent a representation of my inventory value, because, for some reason, my data seems not to work when running the inventory value, just to show you, let me show inventory value.
8:45
So this is how you would normally run it.
8:47
So we want Show Detail All Categories, and then if you have multiple departments, just use All Departments.
8:55
So a few of you, you would normally see all the items, the categories, the respective quantities, and financial stock values.
9:07
So here, just to show you that it's not working on my demo because financial stock value total is not being reflected, so it's only reflecting the quantity.
9:16
So I'm not sure what's happening here. But yeah, for some reason it's my data that's having the issue.
9:22
But, yep I have a workaround.
9:24
So I'll be using the stock landed value report for my inventory value.
9:30
And again, my total here is the same 86,882.4, which again matches my inventory letcher 1200.
9:40
So first is overselling.
9:43
So, we will try to create a sale.
9:48
Again, we want posting invoices, so I'll choose an accounts receivable type invoice.
9:53
I'll pick a random customer here.
10:02
I'm going to pick an item.
10:09
OK, Let's just use that first one in there.
10:13
Guess it there's the Landed Value of the The item that I'm selling.
10:19
So pretending the customer paid in cash, and then let's close out of here and then we will rerun the report.
10:28
So again, as what I've mentioned.
10:32
Sorry, by the way, that's not overselling. Let me just go back, sorry, I was supposed to demonstrate overselling Orland, I'm just going to undo that.
10:40
I apologize, guys.
10:46
So, yeah. I'm meaning to demonstrate the overselling.
10:51
We just removed the payment.
10:58
OK, so, we need to look for a, an item, which we don't have in Stock.
11:03
You see?
11:06
It, just bear with me here to see, OK, first one there. So, you can see that I do not have any in stock. So, I have zero quantity.
11:15
So, let's try to oversell.
11:18
So, I get this stock warning because I don't have anything in stock and then some people that normally ... stay physically see the item in the store.
11:26
So, they would for sell it, They would oversell it brother.
11:30
So in here, this item has landed at zero point forty five.
11:34
So it's a small number, but I will show you later on that the inventory Leger will decrease guests.
11:43
Overselling affects your inventory, Leger 1200, not the inventory value of.
11:49
So let's pretend that customer paid cash, exit without print, then let's head over to reports. So I'm just gonna maximize So again, Overselling affects the inventory ledger. So this is a trial balance. I rerun it.
12:03
And you can see that, my number here change.
12:07
So AB 6, 8 8 1, zero point ninety five, and then the Inventory value.
12:12
I will rerun this and expected that this number should stay the same because overselling will not affect your inventory value.
12:22
So, there, you can see that it remained the same.
12:26
But my inventory letcher changed, Do to oversell it.
12:31
All right.
12:32
So I hope that's clear.
12:35
So I'm just going to undo this so that can demonstrate the other common problems with inventory conciliation. So, let me just go back to where I'm at.
12:49
OK, so that's good streamline This, So now I'm back to the 86, 82.4, which matches my value. Right, so next is manual stokke adjustments.
13:04
So, Manual stock adjustment is simply going to the inventory record.
13:13
OK, say very simple, this one.
13:19
So if you go to costs or stock levels, you have a button there that says Create Stock adjustment. So this will allow you to manually adjust your inventory stocks.
13:30
So create stuck adjustments. So let's say yes to it.
13:33
I'll just split the one.
13:38
But just gonna put my comment in there.
13:41
And then I will change the land there just for us to better see the, the, the change, the changes either.
13:50
In terms of the inventory value, ...
13:55
adjustments will affect your inventory value, not the inventory leger.
14:01
So I put one in there and then the lander is 100. So let's save it.
14:08
And now if I go back to my reporting, So this is my Trial balance.
14:12
So you can see that it remained the same.
14:15
Because then again, manual stock adjustment only affects your inventory value, Some rerunning, my inventory value report.
14:25
And there you can see that it changed. All right.
14:31
So it changed.
14:33
So that's the effect of manual stock adjustments.
14:37
So as I've mentioned earlier, if you are doing that, you need to make sure that you're supporting that manual stick adjustment by creating a bell that posts to your inventory ledger to open, or you can also use your journal entry.
14:54
Yeah, That would still pose to 1200, so I'm just going to remove that, so that we will be back to where we were.
15:02
OK, let me go back and re-open this.
15:07
So that remained the same.
15:10
Value is about two.
15:16
How it was, All right. So manual stick adjustments.
15:20
So that's affecting your inventory value.
15:24
So, cost adjustment during sales.
15:28
So there are some people, you know, Shane, there are some people changing the cost or the landed price of their items which are already attached to sales invoices.
15:41
So let's pick one here.
15:46
See?
15:49
Is this an invoice?
15:55
So we want to edit that one.
15:58
Then in here you can see that my Lambda is zero point zero four.
16:03
But what if I change that too 100, so I'm creasing it very much.
16:09
And then let's exit this and then rerun the reports.
16:15
So, again, Men adjustments made on land and process.
16:21
Attached invoices will affect the Inventory Ledger, so I'm just going to recalculate this one.
16:27
And there, you can see that it changed, and then the inventory value.
16:36
It remains the same.
16:38
So that's what happens when you adjust landed prices on sales invoices. So, it's not really recommended to do that.
16:48
And then, the last one, hang on, I'm just going to go back.
16:54
I will just undo that.
17:26
Alright, so you can see that I'm back to where I was, same numbers for maintenance or evaluate inventory ledger.
17:33
So, the last demonstration will be not creating bills on iOS received.
17:38
So, I will create a purchase order.
17:46
So, we'll just do a new receiving report, so that, we can just receive the item right away.
17:52
Just gonna pick any random supplier.
18:09
OK, so for this item, let's pretend to be receiving buy, Receive.
18:16
So by doing this, uh, receiving purchase orders, this will increase the inventory value.
18:28
So, that's done, So now let's check our reports.
18:34
So, Inventory leger stays the same, and then the Inventory value.
18:43
So, we should expect it to increase, there, You can see that it has increased, so, in order to match the inventory leger, we need to make sure that all our purchase orders have bills created.
19:00
And then the numbers shouldn't match.
19:02
So, I'm just gonna add a bill for my supplier.
19:07
So, this is the Bill Window, and then you can see that there's a Purchase Orders tab in here.
19:12
So, what we will do is, two, pick the one that we just received, a few items, so you can do at all items, or I'd some result. For this case, I'll just do the item.
19:26
so you can see that there's the part that I, just Deep.
19:30
So, this is posting to 1200, so this will now catch up or match up to Z Let me just save this.
19:42
Let's just put 1, 2, 3 or below.
19:46
So, creating a bill after receiving a PO, where should increase also your Inventory leger. So I'm just going to recalculate this.
19:57
So now, it has gone up to 86, 9, oh, four zero point ninety, which matches our, Oh, hold on.
20:05
So there's a discrepancy. Is it, is it not? Yeah. I think we missed something.
20:18
So we're off by bye.
20:22
So that's when you will, yeah, investigate what really happened.
20:27
So let's try to see, I'm just going to go back to my purchase order.
20:35
There's actually 270, 50.
20:37
Oh, OK, I guess I have extra.
20:40
So that's also one thing that you need to take note, so you need to consider all the prices, Not just the cost, but all the other extra charges.
20:51
So, yeah, my biggest, my purchase order is 2750 but my bail is less.
21:01
So I have to go back to my bill.
21:05
Recent.
21:06
So see, I only posted 20 to 50.
21:09
So I'm just going to delete this. Go back.
21:13
And here you can see that there are extra boxes.
21:15
So I will have to include extra because my POs got an extra price added to my cost.
21:26
So, let's do summary.
21:28
And then you can see that there's the inventory and then the extra. And then the total is 2750.
21:34
So, by this time, our inventory lechers should match the inventory value.
21:40
So, inventory leger inventory value.
21:48
OK, they're 86909 zero point ninety which matches the emitter Leger Alright, so, yep, I hope my demonstrations are clear. But if you're confused or if you missed something, you can just review the, this presentation, this presentation, because, yeah, it will be available for consumption later on.
22:09
And then, if you still have further questions, yes, we can definitely try to answer that one.
22:15
During our question answer, which will be right now. So, I agree.
22:21
Let's take some questions.
22:24
OK, excellent presentation, Eugene.
22:26
And yes, we do have a question from April, Tanner and she was asking, is there a report that shows PO received that have not had a build posted against it?
22:40
Yes. Very good question. April, thank you for asking that question.
22:44
Um, yes, there is.
22:46
There's a report that we called Bills, and PO: Reconciliation. I'm just trying to search for it there.
22:54
So it's located under Accounts Payable, AP Reports, and then you should see Bills, NP o'ree constellation.
23:02
So this report will help you figure out which purchase orders have fails and which purchase orders don't have bells.
23:13
And this will also help you identify which purchase orders have bails, but, no, the values are not matching so that they can fix them.
23:26
So yeah, there is a report, so it's called The Appeals n.p.o. Reconciliation.
23:32
So all you need to do is just to set your settings depending on what you need, and then your date range, and, Yeah. Just run the report, then you should see.
23:40
See it. Yep.
23:42
That will help you reconcile, so yeah.
23:45
I hope that answers the question, then, yeah. Do we have another question? Next question, please. Yeah. Yeah, We do have another question, and it's coming from Jennifer Mackintosh, and she was asking, What is the best practice in a set of overselling?
24:01
Instead of overselling, best practice is to really make sure that all items received have.
24:07
So it's really a matter of avoiding you know, refraining from using it.
24:13
So in order for you not to do it just makes sure that all items received to have been received. Yeah, all items that you have in stock basically and stuck in the store.
24:24
You must receive them via purchase order, and then, again, once you have received a purchase order, you need to create a bill. So that it would match the inventory ledger as well.
24:35
So, yeah, but if doing that will be a challenge because, you know, we live in a world where and nothing is perfect.
24:43
So, if you oversell, just make sure to fill that in.
24:49
You need to replace what you have, force to sell, because that will result in negative quantity in your inventory.
24:58
So, it's really a matter of making sure that you are not, you know, pushing the system to sell without replacing or without an actual item being entered into the system.
25:13
So, yeah, that's it.
25:16
So, yeah, Next question, please. Yes. Next question has come in from Mike Hudson, and he said, How does cycle counts affect ledger and inventory value?
25:28
Cycle counts, I'm not sure about that. Can you be something more about it? What do you mean by cycle Counts?
25:37
Oops.
25:45
A while waiting for Mike's pull up question, follow-up, updated in a follow-up questions. Let's proceed with other question from Joe Keller.
25:58
He said, Show How to Load Inventory Value Report for the year end compared to the stock value report, I'm sorry, I come again face.
26:09
Show how to load the Inventory Value Report for the year end compared to the Stock Value Report?
26:17
Oh, OK. So, yeah.
26:19
I think I demonstrated that one earlier, but again, my demonstrate, my demo, my data demo as seems to be problematic, but how you would run the Inventory Value Report is going to inventory reports, inventory value.
26:36
And then you can choose the show detail so that you can see the individual items per category.
26:42
And then, yeah, leave everything as is, if you're a departmentalized, you can choose by department, but you can also do all the All Departments.
26:50
Then, just make sure that you don't have any lookup where it's just in case you were using lookup rates previously.
26:55
So, just make sure that you don't have anything in there that will affect the reporting soda, yeah.
27:01
All categories and then view.
27:04
So, again, my data is problematic, so it will not show the financial stock value, but on your end, yeah, you can try this and then you should see a value or an amount under the grand total at the bottom for the financial stock value.
27:20
So, that is what you will be comparing with your inventory leger.
27:26
So, yeah, I hope that answers the question.
27:29
Thanks, Eugene.
27:31
And another question from Darlene, her quota and she said, if I oversell, then the quantity will be negative, quantity will be , then, do we do a manual adjustment to make it back to zero?
27:46
So, yes, you can do mental stuck adjustment, but you need to bear in mind that doing a mental sick adjustment.
27:53
You really have to be careful because you need to make sure that whatever landed value of the stuff that you're manually adding into the system matches the lander price. That was already attached to the invoice.
28:05
Because by default, the system. I think this, this depends on the way your system is being setup, but usually, the landed price, defined. In your setup wizard.
28:17
If it's standard, so that's this, It will basically pull the standard pricing on the invoice.
28:24
So whatever manual step adjustment that you will do, you need to match that with the landed on the invoice.
28:32
So, yeah, I guess nanosecond just meant takes care of the mental, the inventory value and then the, the, the one that you oversee, you oversell on the invoice or the oversold on the invoice, affected the inventory lecture.
28:49
So, yeah, that's it.
28:51
And doing my nosek adjustment, you need to make sure that you're entering a bill or a journal entry to support that.
28:57
I just, I hope that answers the question.
29:01
OK, thanks Eugene, another one here from Carmen Walker and she's: she's asking: Is there a report that shows oversold items?
29:09
Yes there is oversold. Um, yeah.
29:12
You can design a report for that oversaw. So Let's Design Inventory Reports.
29:17
So you can do your settings so you can do departments or departments.
29:21
It's up to you so you can do Category Supplier you can do all those filters But for this case, just for demonstration purposes.
29:29
So I'm putting my category part number and then yeah there is a an option here for oversold.
29:36
Just need to find it, they're oversold.
29:39
Just pick that one up and then view the report. And you will see the list.
29:44
So you can sort.
29:46
So there you can see that my first item in there I have nine oversoul quantities and so on.
29:52
So yeah, I hope that answers your question.
29:55
Next one, please.
29:57
Thanks, huge. And it said another question or another message from Reader Rollins.
30:02
He said, You made it Bill, to go with the adjusted item found what becomes of the bill in the AP process.
30:13
Sorry. I didn't quite understand that point.
30:17
It must be asking you may have built to go with just that item follow-up, becomes the bill, the AFL CIO. I'm not sure if it was asking about what ledger to use in a bill for the AP or what happens to the bill?
30:30
I, OK, I see because when you create bills, OK, let me see discount triple.
30:36
Guess, Rader mentioned about the accounts payable because supposedly, when you're receiving an either or when you're adding an item to your, to the system.
30:46
So, it's basically understandable that you have to do pay somebody because of that new stock, right? And it's your vendor or your supplier.
30:56
So, yeah, there's an accounts payable.
31:00
Let your posting in there. But if you don't want the accounts payable to be affected, like, you just want the inventory leger number to be affected.
31:08
So that's when you will use the adjusting journal entry.
31:12
Guess you can you you have the ability to pick your lecture number.
31:15
So you can Of course, since we're dealing with inventory, you will use 1200 and then offset at the widths. I don't know. You get to decide whether you can use.
31:26
Usually, it's the expense expense account, but, yeah.
31:31
So if you don't want AP to be affected, go with it, journal entries for the adjustment.
31:36
I mean, for the, yeah, to support the adjustment.
31:42
So, yeah, that's it.
31:45
I hope that answers your question straighter and more question here from Leslie Cornell. And she was asking, How can I add inventory when I am a grower?
31:55
And I grow from my own cuttings?
32:00
OK, so, that's a very specific, Specific, That's a special case.
32:06
I think it's best if you will talk to your Implementation specialist, because usually that's, that should be discussed during the implementation Implementation, meaning when you start using software.
32:18
So, everything must be laid out for you, including the processes that you will do.
32:24
Guess each of the H businesses have their unique processes.
32:29
Unique needs, so, yeah, I think it's best if you repartee or implementation specialist, But if you can get hold of your implementation specialist, I can go to your account manager, and yeah, if our mentors should help you out on that one, guess that's a very special case.
32:46
So, yep.
32:47
Next one, or do we have some more? Thanks. Yeah, we have some more. And it's also coming from Leslie and she said, my inventory is years messed up. I may need a ledger restart reset to fix it. I guess yes. That actually, I would recommend if that is the case, because if it's messed up, it's either you're going to just do a physical inventory count or it's also messing up your ledger than a luxury start, maybe a best way to fix it.
33:15
Hmm, hmm, hmm, hmm.
33:16
Oh, let me share.
33:18
I don't know if this will will be helpful, if you don't want to proceed with lecture restart, because what I did in my demo, You know, before I actually presented my demonstration, I actually created an adjusting journal entry just for the sake of matching, So it's kind of my way to start fresh.
33:41
Let me show you, I created and adjusting entry, I don't know ivory.
33:44
Is that a good recommendation to give out, just in case the customer will not, you know, go with the, let your risk, because I think luxury is a paid service.
33:54
So, here, this is my adjusting entry for my presentation and just for the sake, matching my inventory.
33:58
You an image or a ledger for me to start fresh? So, yeah, I bury, what do you think?
34:03
Usually, when you do a ledger restarted, that's also what they do. It's going to be Agile entry. But, obviously, you will have someone who's going to help you help you do that one for you.
34:14
Gotcha, OK, yeah, that's it.
34:18
And another question from Tanya Keizer: Eva ...
34:23
has been received, but does not match invoice. Can you edit price and because it matches invoice, it can be billed.
34:32
Alright, Editing transactions, such as British orders and bills for the bills.
34:36
I don't know if you saw my demonstration earlier, I kind of messed up with my, my bill creation because it did not match what I have received or might be. Oh, so what I simply did was, I went back to my purchase order, check.
34:52
Worst my purchase order. Yeah, I went back to my purchase order. Yeah, this is my purchase orders to, it's 27 50.
34:58
So, and then I checked my bill, and then I realized that it did not match because my bill was just 1 posting 20, I think, 22 something, So, 2250, so yeah, I was off by fives what it did.
35:10
I went back to the bill, and, yeah, I just did the, They get the amount.
35:18
Yeah, I just hit the bell. So, that's fine.
35:22
Justice.
35:23
I just think bills are fine to match with the OS, But if you're adjusting a PO, that's going to be a different story because you received the purchase order order already.
35:31
So, it's not really recommended to edit a completed once.
35:35
And why, because, some of those items that you have received on that purchase order may hide, may have been sold already. So, they already left your inventory. They were carrying the initial set landed price.
35:50
So, yeah, it's going to be, it's really going to mess up your numbers.
35:55
So, be careful in editing completed purchase orders, but as much as possible, to not edit completed purchase orders.
36:02
But it's case to case basis. All right.
36:04
But, yeah, if you need further assistance on that one, you can call support them. That will help you.
36:12
Thank you so much for that message, or tips, Eugene.
36:17
Also, we have a question from April instead of overselling if phew!
36:24
No!
36:25
You do not have the item in the inventory. Can you sell miscellaneous, or does that does affect it?
36:32
1200 account, or inventory accounts, and not stuff value.
36:40
I think I encountered that discussion, which will be a further discussion. And let me show you.
36:48
Guess I was meaning to show this.
36:51
Because, again, because of our limited time for this webinar, you can go to your customer care portal, customer care portal.
36:59
We've just got to win more software dot com.
37:03
So, guys, if you're following, just go to, when we're software dot com on your browser, then just had to wait for soccer dot com, OK, there, I think it's the other thing, is if you go to resources, go to Help Center.
37:21
Visit your customer care portal, Sippar, open a new tab.
37:30
Oh, sorry. Not that one.
37:32
I guess. I didn't. Hang on, Let me try again.
37:35
one more, it's software dot com.
37:43
OK, so Resources Help Center, visit your customer care portal, and then in here you can use any keywords for any selected topics you want to: inventory reconciliation.
37:58
So there's a simplified version, which is basically what I have discussed earlier, but if you want an in-depth discussion, just like your question April.
38:08
So you can go to inventory conservation related articles by the way on the site inventory conciliation all you need to know.
38:17
So everything is in here during the process, is to be able to bills, be able to invoice what not to change. Or the these are some tips to bear in mind.
38:27
So process suggestions.
38:31
So everything is here. Changing costs in waistline, PO. Overselling.
38:36
I think your question, April was mentioned here, substitute the real thing.
38:44
Think that said or substitute the miscellaneous either. I think that's the answer for your question, April, so yeah.
38:49
There's also substitute GL code. So everything is here.
38:53
So, just be, Yeah.
38:55
Take time to visit the Customer Care portal, and, yeah, make use of the resources available there.
39:04
Yes, we have the inventory constellation.
39:07
Top topic or article.
39:10
So, yeah.
39:11
I think we do, we still have time to answer more questions. I Barry.
39:16
Yeah, unfortunately, we're running out of time. Although we do have some of your questions on the record, we may need to contact you guys with regards to this one. Or if you need urgent assistance, you can call us support right away. And for questions that exactly not related to the topic, I would suggest I would recommend that you call support to get assistance with regards to that one.
39:39
And if you see that this particular questions that you're, you're asking is somehow, we don't get a enough answer for all of them. And you have follow-up questions, that, one, I would suggest that you cause, of course, you can arrange a time with someone or with Eugene if he's available to discuss this one further. Unfortunately, we're just so we have a limited time for you, for us to answer your questions.
40:06
And also, I know that this is a big, big topic, and there's gonna be a lot of questions that you will, that you might want to ask the question, this one, and I think, a discussion with someone who support is the best way to, to deal with all those questions.
40:28
Again, thank you so much, Eugene, for that wonderful presentation also.
40:35
Ah, I would recommend, or I would invite everyone as well, for our next webinar topic or our our next webinar, which going: which is going to be on January 12, and I believe the topic is about this fish or Salesforce incentive funds. If you wanted to know what that one I would recommend to registers on that particular webinar.
40:59
And, again, I apologize for the limited time, but yes, we cannot accommodate all of your questions live right now. Especially that our time is short. And also give us a call if you need further assistance or you need answers right away for your questions.
41:16
Eugene, any other further discussions that you want to add before we end this presentation?
41:23
Yeah, I'm just sharing a couple of slides here.
41:26
So, again, when we have webinar archived, so, if you want to review this webinar so, you can do so, just go to windward software dot com slash webinars and you can also review the past webinars if you missed them. Yeah, just head over to that website.
41:43
And then, we also have yeah, just as what you mentioned, I agree we have upcoming webinars. So, these are the list of topics.
41:50
So, if you're interested, just make sure that you register and then we have resources available online. So, we have the Help Center, which I demonstrated earlier.
41:58
And then our Customer Care portal, and when we're learning Academy.
42:03
And then, we have also training events upcoming 2023. And these are the topics. Um, yeah, just, if you know, if you want to know more, just go to when we're software dot com slash events.
42:16
And then, yeah, I think that should be all for me. Um, yeah.
42:19
Thank you guys for attending today's webinar, and I hope you learned something, and yeah, you guys take care. That's all. For me, thank you. Thank you so much, guys. Have a wonderful day and also, enjoy the rest of the week, and Happy holidays.
42:34
Happy New Year, guys.
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