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Inventory management in Project “Madeira” is limited to registering and managing item cards representing physical products and to increase or decrease the quantity of an item in inventory by posting directly to the item ledger entries.
Products are the basis of your business, the goods or services that you trade in. Each product must be registered as an item card.
The item card can be of type Inventory or Service to specify if the product is a physical unit or labor time unit. Apart from some fields that relate to the physical aspects of an item, all fields on an item card function in the same way for inventory items and services.
After you have made a physical count of an item in your inventory area, you can use the Adjust Inventory function to record the actual inventory quantity.
You can also use the function as a simple way to place purchased items on inventory if you do not use the Purchase Invoice window to record your purchases.
The cost of an item (inventory value) that you purchase and later sell may change during its lifetime, for example because a freight cost is added to its purchase cost after you have sold the item. To always know the correct inventory value, item costs must therefore regularly be adjusted. This ensures that sales and profit statistics are up to date and that financial KPIs are correct.
When you post inventory transactions, such as sales shipments, purchase invoices, or inventory adjustments, the changed quantities and costs are recorded in the item ledger entries and the value entries, respectively. To reflect this change of inventory value in your financial books, you must post inventory costs to the related inventory accounts in the general ledger.
You can post inventory costs to the general ledger in two ways:
"Inventory" is part of the Project "Madeira" (Preview of Dynamics 365) line of products, developed by Microsoft.
Project "Madeira" (Preview of Dynamics 365) is a horizontal product. It offers functionality designed for usage across a wide variety of industries and business types.