Ending Inventory

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The Ending Inventory option defines (by location) which method should be used to calculate ending inventory. FoodPro users have the option of taking inventory on days other than a Day 7, and several new programs are available to take full advantage of these options.

Inventory Calculation choices are:

Calculate Day 7
Calculate Optional Day
Calculate Both or
Do Not Calculate. The default is Do Not Calculate.

Note: Even though users can implement a non-Day 7 Inventory, a Day 7 Inventory is still required. This Day 7 inventory can be either be entered or system calculated. Likewise, the Optional Inventory can either be entered or calculated.

For example, if a user has Tuesday as their Day 7 and chooses Thursday as their Optional Inventory Day, the inventory for Thursday (Optional Inventory Day), could either be entered or calculated from the inventory that was entered on the past Tuesday (Day 7).

Likewise, if the Optional Inventory was entered, the next day 7 could be automatically calculated from the previously entered Thursday’s ending counts.

Calculate Day 7
The Ending Inventory will be calculated on your Day 7. FoodPro calculates your ending inventory based on the Beginning Inventory, Purchases, Transfers and Usage from Day 1 through Day 7, you do not have to enter ending Inventory counts. If ending counts are entered, the ending inventory counts for items that were entered are used for reporting purposes and not the calculated counts.

Calculate Optional Day
The Ending Inventory will be calculated on the Optional Inventory day chosen through the Calendar program. FoodPro calculates your ending inventory based on the Beginning Inventory, Purchases, Transfers and Usage from the last Day 7 inventory through current optional day, you do not have to enter ending Inventory counts for the Optional Inventory. An example of an optional inventory day is the last fiscal day of the month. If you choose to calculate your ending inventory on the optional day, last fiscal day of the month, you can get a Location Cost Summary for your last fiscal day of the month based on calculated ending inventory.

Calculate Both
The Ending Inventory will be calculated on Day 7 and the Optional Inventory day chosen through the Calendar program. You will not have to enter ending inventory on Day 7 or on your Optional Inventory day. FoodPro will calculate your ending inventory for both Day 7 and Optional Inventory day. An example of an optional inventory day is the last day of the month. Your Location Cost Summary for Day 7 and Location Cost Summary for the last day of the month will be based upon calculated ending inventory.

Do Not Calculate
If Do Not Calculate is chosen the Ending Inventory will be the counts entered through the Inventory Book. This option is the default. If no inventory is entered for an item then the ending inventory count for the item will be set to 0.

Note: When making changes to the method of calculation, a dialog box appears informing the user of day 7 or optional inventory day for which changes will be affected. All changes to calculation method must be made prior to startup for operating date.

Optional Inventory Notes:

The Optional Inventory Date is set up through Global Calendar Maintenance.
Close Optional Inventory is found in Global Activities This process is run after inventory has been entered or calculated, all variances have been corrected and reports have been run. (Location Cost Summary, Transfer Cost Summary, Inventory Analysis)
Input Optional Sales Dollars has been added to Location Activities. The new Input Optional Sales Dollars program is used to enter inventory sales dollars for the Optional Inventory period. This information appears on the Location Cost Summary.