The Transaction Summary has four functions:
It produces a report that summarizes all closed transactions for all sites, beginning the day after the last period was closed, and ending on the last calendar day of the month.
If you choose Close Period, it will prevent further transactions prior to the End Date and set a new Beginning Inventory date for the next.
Optionally, the system will calculate and post journal entries to the general ledger when the period is closed.
The Transaction Summary requires Physicals for all sites on the Transaction Summary ending date.
a. If a physical does not exist for the period end date, one will be generated.
b. If a physical exists but is Open, it will be closed and any missing items will be added with a zero quantity.
The report lists all Inventory Items, grouped by Site and Account Category.
o Each site has Subtotals by Category subtotals and Site totals are shown.
o Each Account Category prints with one row summarized row per site.
o At the end of the report there are district-wide Category totals and grand totals.
The standard format has three sets of columns and one row per item:
o The Beginning Qty/Value columns show the ending information from the last prior closed Transaction Summary Report.
o The Transaction (Net Change) Qty/Value columns display the increase or decrease to inventory during the period (Ending minus Beginning).
o The Ending Qty/Value columns show the quantities and values from the end-of-month Physicals.
The detail format has additional columns to show totals for Receipts, Adjustments, Transfers and Usage Qty/Value. It has (2) two rows per item. Please note: reports that were created before the detail format was available will have blanks in the detail columns.
The Ending Qty/Value should tie back to what was On Hand as of the ending date.
o It will not necessarily match the current On Hand because there could be closed transactions after the Ending Date that are not being picked up.
The screen has three main sections: View Existing, Create New, and Physical Status.
This option may be used to view or print any closed Transaction Summary report.
Select a date range from the Begin/End Date fields or check the Show Fiscal Year box to display the fiscal year.
The grid will display all closed periods.
To print a closed Summary, check the box beside it, select a Sort option and click Print.
Check the Show Summary Details box if you would like to print the report with the detail format. NOTE: any reports that were created before the detail report was available will have blanks in the detail columns.
The selected report will be previewed on the screen and can be sent to the printer or exported using the dialog buttons at the top left of the preview.