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The Microsoft Dynamics SL Inventory class explores all aspects of the Inventory module from the initial setup of inventory items and the multiple methods of valuation supported, to the types of inventory transactions available and the tight integration to the Purchasing and Order Management modules.
You learn how to control inventory challenges and maximize your company's net profits based on the way you do business. You see how to define default inventory account numbers, COGS, variances, sites, product classes, valuation methods and more, which will improve efficiency and cut down on costly data entry errors. This class shows you how to group items for pricing, promotional, or analytical purposes and by type, such as finished good, raw material, component, and more. You see how to quickly find information such as inventory quantity on hand, quantity available, quantity on back order, costs, and list prices, and where to drill down to transaction details. You learn how to manage multiple warehouses, negative quantities, and lot/serial numbers. You see how Lot/Serial Number tracking is streamlined during inventory transaction entry.
You can simplify entry and reconciliation of physical inventory counts with a variety of options, including the ability to freeze inventory quantities so they are not updated by day-to-day transactions while you are counting.
Inventory training is recommended for anyone who plans to implement, use, maintain, consult, or support Microsoft Dynamics SL. The class is targeted toward administrators, office managers, CEOs, and consultants who need to understand the technical aspects of Inventory and gain foundational knowledge of the application functionality.
After completing this course, students will be able to:
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Understand how Inventory module transactions integrate with other Microsoft Dynamics SL modules and improve your business bottom line.
Use the Inventory module to process receipt, issue, adjustment, and transfer transactions.
Use Inventory inquiry windows and reports to extract and analyze appropriate information to maintain and improve inventory business processes.
Create and assemble kits.
Understand how maintenance window options affect transactions in the Inventory module.
Process physical inventory transactions and record the results.
Document month end processes and close the Inventory module.
Define setup options for the Inventory module that allow you to customize your system to better fit your organization's unique needs.
Before attending this course, students must have:
General knowledge of Microsoft® Windows®.
Knowledge of basic navigation functions in Microsoft Dynamics SL.
Completion of General Ledger, Accounts Receivable, and/or Accounts Payable training courses required.
This course helps you prepare for the following Microsoft Certification exams:
Microsoft Dynamics SL Inventory and Order Processing
The student courseware includes a comprehensive workbook.
Chapter 1: Overview
This overview chapter introduces you to the Inventory module of the Microsoft Dynamics SL product and training course, and the windows and processes that are used to complete the accounting cycle in Inventory.
Also, it is important to note that this chapter is optional and can be skipped at the instructor's discretion if the instructor feels that each student's background provides sufficient experience in these topic areas.
Main Topics
Course Description
Module Overview
Process Flow
Other Features
After completing this chapter, students will be able to:
Understand the goals of this course.
See how the Inventory module fits into the suite of available modules for the Microsoft Dynamics SL system.
Follow the flow of transactions through Inventory.
Chapter 2: Active Overview
This chapter examines the core processes that are used in the Inventory module. We introduce each step in the accounting cycle, briefly discuss its purpose and primary features, and focus on its function in the accounting cycle. Please note that this chapter is not intended to provide you with a detailed primer on each of these topics.
This chapter is optional and can be skipped at the instructor's discretion if the instructor feels that each student's background provides sufficient experience in these topic areas.
Procedures for Processing Inventory Transactions
Transaction Overview
Understand the flow of Inventory transactions.
Understand the process of entering Receipt, Transfer, Adjustment, and Issue transactions.
Understand the process of assembling a Kit.
Chapter 3: Inventory Maintenance Windows
This chapter explains how to create inventory items and examines the windows that need to be completed prior to creating inventory items. You learn how to create product classes and lines, warehouse bin locations, attributes and cross reference lists and assign defaults to inventory items.
Procedures for Setting up Inventory Items
Product Classes
Product Lines
Warehouse Bin Locations
Inventory Items
Inventory Sites
Attribute Definitions
Physical Attributes
Reports
Labs:
Create a new product class for paper
Create a new product class for chairs
Create a new product class for copiers
Create a new product class for bicycle manufacturing
Create a new product class for office supplies
Create a new bin locations for new products
Assign default bin locations for the new products
Define new inventory items for chairs
Define new inventory items for copiers
Define cross references for vendor ID numbers
Create attributes to define various inventory items for paper by weight, brightness, size, and purpose
Assign attributes to each inventory item for paper
Understand the windows that should be completed before setting up inventory items.
Set up inventory items.
Chapter 4: Inventory Kits
This chapter discusses the process for creating inventory items to represent a kit and the components of a kit. You see how inventory kits facilitate inventory production, management and ordering. You learn the basic differences between stock and non stock kits.
Procedures for Creating Kits
Inventory Kits
Types of Kits
Updating Standard Costs
Lab:
Create an inventory ID for a kit item
Understand the purpose of Inventory Kits.
Define Kits in Inventory.
Chapter 5: Entering Beginning Balances
In this chapter, you examine the process for using the Inventory Receipts window to establish beginning balance quantity and value information for inventory items. We also discuss the use of Reason Codes to identify the purpose of particular inventory transactions.
Beginning Balance Checklist
Reason Codes
Receipts
Enter an inventory receipt transaction from information on a packing slip
Enter an inventory receipt transaction with serial numbers from information on a packing slip
Set up Reason Codes to provide standard reasons why particular Inventory transactions, such as Returns, are being done.
Enter beginning balances.
Chapter 6: Inventory Transactions
This chapter introduces four main inventory transaction windows. An inventory transaction is processed whenever an inventory item's quantity or cost information changes. You gain an understanding of how Inventory transactions can be used to record issues and returns, to adjust quantities and costs, to move items from site to site, and to produce kit assemblies. You see the process by which Inventory transactions are released to the General Ledger through the Inventory Batch Release Process.
Overview of Transactions
Types of Transactions (Issues, Transfers, Receipts, Sales)
Enter a transfer to place inventory in a storage location
Enter the first step of a two-step transfer to move inventory quantity to a different location
Enter the second step of a two-step transfer to receive inventory quantity to the new location
Enter a transaction to record a sale from information on a pick ticket
Adjust an inventory quantity to account for damaged goods
Assemble the kit defined in a previous lab
Understand the types of transactions that are entered in the Inventory module.
Enter Inventory Issues.
Understand the two different methods used to accomplish transfers.
Enter Inventory Adjustments.
Enter an Inventory Kit Assembly.
Chapter 7: On Window Inquiry
This chapter reviews the series of windows available for viewing inventory item balances and easily drilling down to the transaction details. The Inquiry windows allow you to quickly view item information without having to print reports.
Inventory Inquiry
Understand the windows available in the Inventory module for viewing transaction and status information.
Chapter 8: Physical Inventory
This chapter examines the methods for performing physical inventory counts. We discuss how to complete a full physical inventory and the various options available for selecting items to include in a cycle count.
Physical Inventory Concepts
Performing a Physical Inventory
Physical Inventory Windows
Physical Inventory Reports
Generate cycle count tags for specified inventory items
Enter counts in the Physical Count entry window
Understand the Physical Inventory process.
Prioritize inventory prior to counting.
Freeze Inventory and generate inventory count tags.
Enter and reconcile counts.
Understand how the system adjusts inventory.
Chapter 9: Closing
This chapter teaches you to create a closing checklist to ensure all transactions and activities have been completed for the accounting period, produce appropriate audit trail reports, correct an out of balance condition, and close only the Inventory module or all modules for the period. We also discuss the Inventory detail retention and deletion options.
Balance to the General Ledger
Close for the Month or Year
Delete Inventory Detail
Perform IN Integrity Check
Understand the timing of closing the Inventory module with the other Distribution modules.
Determine the possible cause of out-of-balance conditions in Inventory
Use the module integrity check.
Appendix A: Inventory Setup
Appendix A helps you understand the defaults and user options defined in the Inventory Setup window. Even though these options are typically not changed after the product is implemented, you will gain understanding of default values and processes through the settings in this window.
Inventory Policies
Inventory Setup Checklist
Module Implementation Worksheet
Sites
Inventory Setup
Unit Conversions
Material Types
Understand the decisions that need to be made prior to setting up the Inventory module.
Define options in the IN Setup window which affect processing.
