A Goods Issue is defined as a physical outbound movement of goods or materials from the warehouse or it is the issue of physical goods or materials from the warehouse. It results in decrease in stock from the warehouse. For e.g goods are issued from the store to production department to make the product.

This topic covers how to setup a Goods Issued Transaction Type.

All of these fields and tabs are explained in detail in the Transaction Type topic, here.

What you'll find on this page

• • Start here

• Transaction Types

  • General

  • Items & Inventory

  • Estimating

• Copy Rules

• Templates

• Costing Rules

• Cost Update

Start here

1. Navigate to Setup > Transaction Types > Edit.

2. Click Add. A new record will appear at the bottom of the screen. You will note that some fields are auto-populated already.

Transaction Types

General

The defaults for Transaction Types only require a small amount of change. The only fields to change are:

1. Description - Enter 'Goods Issued'.

2. Code - Enter 'GI'. This is the 'nickname' of the Transaction Type.

Items & Inventory

As above, there is minimal change required here. More on Items & Inventory here.

• Item Type - Set to Item.

• Pricing Items - Select 'Inventory'. This is so that only the Inventory price will apply to the Item.

• Resolve Items - Select 'Issue'. This sets what Resolve is set by default for items on this transaction type. If 'Issue' is selected then you can issue, or send out, an ordered item into stock.

Estimating

• Pricing - Select Cost Price.

Copy Rules

These are dependent on the other Transaction Types that need to be linked to Goods Issued. For a more indepth explanation of Copy Rules, click here.

1. Goods Issued to Customer Invoices - This allows you to create a Customer Invoice linked to the Goods Issued, in order to receive payment from the customer should they purchase the goods directly.

2. Goods Issued to Goods Returned - This allows you to create a Goods Returned transaction linked to the Goods Issued in order to return material to stock when there is excess material remaining after a job is complete.

Templates

A Goods Issued note template can be setup for Goods Issued for Status Pending, Active, Complete, and Cancelled. More on Templates here.

This is an example of a Goods Issued Note.

Costing Rules

The Costing Rules determine how the cost of sales is generated in the fixed Cost of Sales module (more here). This is done by identifying which Transaction Types are used to Issue Stock, Return Stock or Purchase Items.

If you use Purchase Orders to purchase materials or services against Sales Orders / Work Orders, then add the Purchase Order Transaction Type. More on Costing Rules here.

Ideally these other Transactions that can be linked to a Purchase Order Costing Rule have been created already.

1. Sales Orders > Stock Issued > Goods Issued (GI) - The costs of the issued stock in the Sales Orders are allocated against the linked Goods Issued transaction.

2. Work Orders > Stock Issued > Goods Issued (GI) - The costs of the issued items in the Work Orders are allocated against the linked Goods Issued transaction.

Cost Update

The Cost Update will update the average price of the inventory items based on the latest goods received costs, divided by the total number of inventory.