Inventory Transfer Process – Instruction Note

The requirement of transferring stock between locations is achieved through the existing setup in the system. The process ensures that both the operational movement of stock and the corresponding financial impact are recorded correctly. This provides end-to-end visibility, auditability, and control through the standard approval workflows.

Process Overview

1. Identify Items for Transfer

   • Use the Store Purchase Order Report to identify which items are to be moved from the sending location. This ensures that transfers are based on accurate stock data.

2. Configure Agencies

   • Agencies must be configured as vendors in the Vendor Master. This allows the system to recognize the receiving location as a valid trading partner for the transaction.

3. Create Job Card

   • A Job Card is created for the product being transferred.

   • The vendor field is set as the agency (i.e., the receiving location).

   • This step ensures the system has a record of the transfer initiation. (Refer: Job Card User Manual)

4. Confirm Entry

   • The Job Card is confirmed.

   • This confirmation triggers a negative inventory entry at the sending location, reflecting the physical removal of stock.

5. Vendor Invoice

   • A vendor invoice is generated against the Job Card.

   • This step finalizes the financial posting, ensuring that the negative entry is also reflected in Accounts.

6. Receiving Location Purchase Order

   • A Store Purchase Order is created at the receiving location.

   • The sending location is selected as the vendor.

   • This ensures the system recognizes where the stock is coming from. (Refer: Store Purchase Order User Manual)

7. Approval

   • The Purchase Order undergoes the standard approval process, maintaining control and authorization of the movement.

8. Goods Inward

   • A Goods Inward entry is made against the approved Purchase Order.

   • Approval is also required here, ensuring visibility and control. (Refer: Goods Inward User Manual)

9. Purchase Invoice

   • Finally, a Purchase Invoice is created against the inward entry.

   • This completes the financial posting for the receiving side. (Refer: Purchase Invoice User Manual)

How the Requirements Are Achieved

Sending Side

• An entry is created and approved using the Confirm button.

• The system automatically records a negative entry in both Inventory and Accounts, ensuring that stock and financials match.

• This entry is visible in reports, enabling better tracking of stock movements.

Receiving Side

• A Goods Inward entry is created and approved, providing visibility and audit control of the stock movement.

• A positive entry is automatically added in both Inventory and Accounts.