Inventory Implementation Tips

When implementing inventory management in GoldFinch, it's essential to understand how the different tables and processes work together. Below are some key insights to guide you through the setup and ensure your inventory system functions smoothly.

1. Item Ledger Entry Table

The Item Ledger Entry table tracks perpetual inventory transactions using the Base Unit of Measure. This ensures accurate tracking of inventory quantities at all times.

2. Warehouse Entry Table

The Warehouse Entry table records inventory movements by Bin within each warehouse. This allows for precise tracking of inventory locations within your warehouse system.

3. Cost Entry Table

The Cost Entry table manages the costs associated with inventory transactions. This is critical for maintaining accurate financial records related to inventory costs.

4. Bin Management

Bin Management is enabled by default in GoldFinch, allowing detailed tracking of inventory within specific warehouse bins.

5. Tracking Inventory Transactions

Item Journals and Warehouse Activities are used to record inventory transactions and movements. These documents track everything from receiving inventory to moving it between bins and shipping it to customers.

Simplifying Inventory Management

Managing inventory across various dimensions—such as warehouses, bins, units of measure, lot numbers, and serial numbers—can become complex for many businesses. GoldFinch provides several options to simplify these transactions.