CenterPoint^® Accounting for Agriculture - Using Inventory Locations in Crop Inventories

This topic will include instructions on how to:

Step A - Create Inventory Locations (One-Time Setup)

Step B - Maintain Inventory Balances by Location (One-Time Setup)

Step C - New Crop Production

Step D - Move Inventory to a Different Inventory Location

Step E - Sell Inventory

Step A - Create an Inventory Locations (One-Time Setup)

Inventory balances can be maintained by the different locations you are storing the inventory. Inventory locations can be the elevator, bins, silos, warehouses, or other locations.

To track balances by inventory location inventory, you will need to setup each inventory location.

Select Setup > General > Inventory Locations.
Click New to create a new blank location. Or if the location being added is similar to an existing location, you can highlight the similar name and click Copy. This will create a new location using all of the information in the highlighted location.

In the Abbreviation box, enter up to ten characters of optional information that you can easily identify the inventory location by. Abbreviation is optional.
In the Name box, enter up to 30 characters of required information that describes the inventory location.
The remaining fields on the location setup screen is optional.
Click Save.
Click Close to save the inventory location and close the Inventory Locations screen.

Step B - Maintain Inventory Balances by Location (One-Time Setup)

In order to see the balance in each inventory location, the account category needs to be setup to maintain balances by inventory location. This will maintain inventory balance details for each inventory location.

Note: When balance details are assigned for an account category, ALL transaction activity to the accounts in that account category should include that detail. For example, on the raised crops, the transactions that increase inventory at new production and the transactions that sell inventory need to select the inventory location.

Select Setup > Accounts > Account Categories.
Select the Raised Crops Inventory category on the list.
Select Edit.
Select the Balance Detail tab.
Select Inventory Location from the list on the left and use the green arrow button to move it to the right. CenterPoint will keep separate account balances by each detail that is in the list on the right. Balances will be displayed in the order the details are listed in.
Click Save.
If you wish to maintain balance detail for Inventory Locations on other types of inventory such as raw materials or work in process assets, repeat the steps for each of the needed account categories

Step C - New Crop Production

When entering New Crop Production, be sure to specify the correct Inventory Location. See the New Crop Production Transaction topic for step-by-step instructions.

Step D - Move Inventory to a Different Inventory Location

When grain is moved from one location to another, use an inventory adjustment to move the inventory balance detail.

Select Processes > Production > Crop Inventory Adjustments.
Fill out the Inventory Information section at the top of the screen:
- Select the Company
- Enter the transaction Date.
- Choose Move for the Adjustment Type.
- Select Raised Crops Inventory in the Category field.
- Enter a Transaction # if desired.
Highlight the Inventory you wish to move.

Complete the New Inventory Information section at the bottom of the screen:
- Select the Inventory account.
- Select the Inventory Location the inventory is moving to.
- Enter the number of units (Bushels, for example) that are being moved.
- Enter the Price.
- The dollars are calculated.
Click Save.

Step E - Sell Inventory

When selling from inventory, select the correct inventory location on the receipt screen. For step-by-step instructions, refer to the Selling Raised Inventory topic.