Inventory
From Fishbowl Inventory
| Related Pages | |
|---|---|
|
Part Product Transfer Order | |
| Accounting | |
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Cycle Count Increasing Inventory Cycle Count Decreasing Inventory Scrapping Inventory Adding Initial Inventory |
The Inventory Module is where parts are stored with their quantity and location. Inventory is stored according to default locations; however, stock may be moved or transferred as seen fit through this module. The Inventory Module will also reveal tracking information, committed inventory, items on Work Orders and tag numbers; yet only shows parts that currently have inventory in stock.
The Inventory Module is one of the most used Modules in Fishbowl; however no orders may be created from here. From this module, inventory adjustments may be made, and users may clearly see all of the necessary tracking or location information regarding each part.
Contents |
Search for a part 
The Inventory Module gives you a basic summary of all your inventory information. In the Search Panel of the Inventory Module, you can see all of your parts and their quantities on hand. You may search for a part number in a couple different ways:
- You may search for a specific part by entering the number in the Part Number field of the search panel. You can also search by Location or Description of the part. All of the Search fields for the part use a containing search.
- You can also search for the part using the Advanced Search feature. This feature offers additional search methods such as Location Group, ABC code, Tracking, and Custom Fields.
Move Inventory
You may move inventory in the Inventory Module by taking the following steps:
Note: Committed Inventory may not be moved.
Under the Information panel highlight the Location that has the inventory you wish to move. Next, click the move 
button located on the component toolbar. This will display a Move wizard to assist in moving your inventory.
Enter the quantity to be moved and the End Location located towards the bottom of the wizard. If Tracking information is required for this item, it will appear in the wizard. Serial Numbers must be selected from the given list before the wizard may be finished.
Once the tracking information and End Location has been selected, choose ok. Inventory has now been successfully moved to a new Location.
Adjust Tracking Information
Tracking Information is shown for each part according to the Location they are stored in. You may adjust the tracking information for any part in the inventory module by taking the following steps:
In the Inventory Module beneath the Information panel, highlight the line item (or part within a Location) that has the tracking information you wish to edit. Click the Edit 
icon located on the Component Toolbar. You may also simply double left click on the line item.
This will display the Tracking Details box with all of the tracking information for that Location. Here you may edit the Lot number, Revision level, or Expiration Date. To edit a serial number, double click on the serial number you wish to change and enter the correct information. Click Ok for the changes to take effect.
Only available inventory can be edited. Committed inventory will not show under the modify tag options.
Cycle Count
At times it may be necessary to perform a Cycle Count and adjust your inventory levels in Fishbowl to match reality. Instances when the actual and the recorded inventory levels may differ will vary depending on your type of business. A Cycle Count will also want to be performed when you do an inventory count and need to adjust Fishbowl quantities. You may adjust your inventory in a few different ways in Fishbowl:
- Using the Cycle or Add icons on the Module Toolbar
- Using the Increase/Decrease quantity icon on the Component Toolbar
- Importing in mass quantity changes via CSV cycle count import.
Using the Module Toolbar Cycle Count feature
The Cycle and Add icons are available on the Module Toolbar. The Cycle option allows users to adjust inventory up or down with an existing Location.
- Within the Inventory Module, choose the Cycle icon from the Module Toolbar. The Cycle Wizard will be displayed. In Step 1 choose the Part and Location for which the quantity is to be adjusted. Choose Next.
- If the part is tracked, step 2 will require the user to choose existing tracking, or add new tracking to be cycled in.
- The following step requires the user to enter the new quantity. This is not in addition to an existing qty, rather the total overall qty for the item within the specified Location. Optional information may be entered such as a Note, Customer/Job, QB Class, or Date of Inventory Adjustment.
- Click Finish to complete the Inventory Adjustment.
Using the Increase/Decrease Quantity icon on the Component Toolbar
In the inventory module, highlight the Location for the quantity you wish to increase or decrease. Next, click on the Increase/Decrease 
icon located on the Component Toolbar. The Cycle Wizard will be displayed. The first screen will ask you to enter the new quantity for this part. You may also enter a note (optional) for the item if desired. If a Customer/Job or Class is selected, the Inventory Adjustment will be shown within this job when exported to QuickBooks. The Date will default to today's date, but may be changed by clicking the calendar icon and choosing a new date.
If tracking information is required, then it will need to be entered beneath the Tracking section of the wizard. If the part is serialized, you will be required to enter the amount of numbers being added; or you must choose which serial numbers to remove if the inventory is being decreased. Once the quantity and necessary tracking information has been added to the Cycle Wizard, click Finish. The part's inventory will have been adjusted. To view adjustments made in the inventory module, you may view the Part Activity Report.
See Also
Cycle Count Inventory Increase: The Accounting Process
Cycle Count Inventory Decrease: The Accounting Process
Add Inventory
The Add option is similar to the Cycle option; however, it allows for Cost adjustments to be made.
- Within the Inventory Module, choose the Add option from the Module Toolbar. Enter the part to be modified and choose the Location of the part. Select Next.
- The following step allows the user to add a New Quantity, Cost Per Unit, Note, Customer Job, QB Class, or Date of quantity adjusted. If the Cost is adjusted, the Part's Average Cost will be modified, as well as the Inventory Asset and Inventory Adjustment Accounts in QuickBooks. If the part requires tracking information, that data will be entered beneath the Tracking section of step 2.
See Also
Adding Initial Inventory: The Accounting Process
Scrap Inventory
The following instructions will provide a step-by-step process on how to scrap (or delete) portions of your inventory:
*Note: Committed inventory cannot be scrapped.
In the search panel of the Inventory module, double click on the part you would like to scrap. Once your part's inventory information is shown on the Main Screen, highlight the line that contains the Location you would like to scrap.
Next, click the Scrap Inventory 
icon from the Component toolbar. This will display a Scrap wizard. Enter the quantity you would like to scrap. If desired, you may also enter a note, Customer/Job and Class for the scrapped inventory (optional). A note entered here will be displayed on the part activity report. Click Ok to accept the information.
If your part is serialized, you will be prompted at this time to select which serial number(s) you are scrapping beneath the tracking section of the scrap wizard. After you have checked the appropriate serial number(s), click Ok.
See Also
Scrapping Inventory: The Accounting Process
Modify the Average or Total Cost
In the Inventory Module, you may edit the Total or Average cost by following the instructions below:
In the Inventory Module, double click on the part you would like to modify. Select the edit icon located to the right of the current Average Cost. A warning box will be displayed with the effects changing your average cost could have. After you have read this message if you still wish to continue, click yes.
The Modify Average Cost box will now be displayed. This will show the Quantity on Hand for the part, and will allow either the Average Cost OR the Total Cost to be edited. You only need to edit one; the other will automatically adjust to the correct cost. When the desired changes have been made, click ok.
A dialog box will be displayed informing you if Fishbowl has already integrated with QuickBooks the costing change will be posted on your next export. Click Ok.
You will now be brought back to the general information screen and your total and average cost will automatically update.
View Costing Details
In the Inventory Module you may view the Costing Details for a specific part.
In the inventory module click the info icon
located to the right on the General Information Main Screen. This will display the Costing Details box.
The Costing Details box will show your Part number, Qty on hand, and current costing method being used by your Company. The different costing methods consist of LIFO, FIFO, Average Costing, or Standard Costing.
If you are using Average Costing, your Average and Total cost will be displayed as shown in the picture on the right. If you are using Standard Costing, your cost would show under the Standard Costing section.
The LIFO/FIFO section will show you a summary of the history for a specific part's inventory received. The date is the date the part was brought into inventory, Quantity is the amount brought in, unit cost is the cost per unit that was brought in, and total cost is your unit cost times your quantity.
View Quantity Details
The Quantity Details can be found in the Inventory Module | Inventory section. Choose the Display More Information icon located to the right of the screen. The Quantity Details table simply provides more information regarding the specific breakdown of inventory within each Location Group.
The upper half will provide a general overview status of all the part's inventory. The lower half provides each location group and the amount of inventory On Hand, Allocated, Not Available, Available, On Order, WHIP status, Committed, or on Backorder.
This table is read-only; nothing may be modified here.
Inventory Status Terms
- On Hand - The total amount of your inventory in stock.
- Allocated - The amount of inventory allocated (or assigned) to other orders. For example, inventory on issued Sales Orders, Purchase Orders, and Transfer Orders. Allocated also takes into account inventory on Work Orders.
- Not Available - The quantity in locations that are marked 'Not Available'
- Drop Ship - The quantity being drop shipped directly to customers
- Available - The quantity available. This is calculated by Available = On Hand - Allocated - Not Available + Drop Ship
- On Order - The quantity on order for either a Purchase Order, Sales Order, Work Order, or Transfer Order
- Work in Process - Items committed to started Work Orders
- Committed - Items picked and ready to be shipped, or items started on a Work Order. *Note* Inventory that is committed will always be allocated. However, inventory that is allocated is not always committed.
- Back Ordered - The quantity needed to fulfill a demand
About Inventory
General Information The main inventory screen holds the body of information for each part. The top section of the general tab shows your part description, part number, UOM, Total cost and Average cost.
- Total Cost - The total cost is the dollar value you have in stock for that specific part. It is calculated by taking your average cost times your quantity of inventory on hand. Average Cost x Qty on Hand = Total Cost
- Average Cost - Your average cost is set when you first enter in a cost for a part. This cost will fluctuate each time you purchase a part for a different cost. This is calculated by taking your total cost divided by the quantity on hand. Total Cost / Qty on Hand = Average Cost
You also have the option to edit the Average or Total cost if necessary, or view Costing Details for each part.
Inventory
The middle section of the general screen shows you the inventory on hand and the breakdown of that inventory. You may also view the breakdown of inventory per location group by clicking on the info button to view Quantity Details. You may also view the breakdown of inventory per location group by clicking on the info button to view Quantity Details.
You may view the breakdown of inventory per location group by clicking on the info button to view Quantity Details.
You may see where each inventory quantity is broken down by hovering your mouse over the term. An example is shown right of a breakdown of the allocated inventory. At a quick glance you can see the 3 bikes are allocated to a Sales Order. You may see where each inventory quantity is broken down by hovering your mouse over the term. An example is shown above of a breakdown of the allocated inventory. At a quick glance you can see the 3 bikes are allocated to a Sales Order.
Inventory Information
The lower section of the general screen shows you the inventory within each Location. This is also where you can view and edit tracking information for parts.
In this section of the general screen you have the ability to:
