Creating a New Inventory Transaction

Created by JR Formenti, Modified on Wed, 7 May at 3:11 PM by JR Formenti

The New Inventory Transaction screen is the central tool for tracking any inventory movement, including purchases, refurbishments, transfers, and disposals.

⚠️ Important Note: Selecting the correct Transaction Type is critical — it directly affects on-hand quantities, stock value, and audit trail integrity.

Required Fields (Highlighted in Red)

To successfully record a transaction, the following fields are mandatory:

Field	Description
Inventory Item	Choose from the catalog dropdown. If it doesn’t exist, use "Add New Catalog Item".
Transaction Date	Defaults to today. Can be backdated if needed.
Transaction Type	Select the nature of the movement (e.g., Purchase, Transfer, Refurbishment).
Cost Center	Destination cost center where the item is headed.
Cost Code	Financial code that tracks the purpose or account allocation.
Quantity	Must be greater than zero. No negative or zero entries allowed.
Condition	Reflects the quality or state of the item (e.g., A = New, B = Used, C = Refurbished).

Condition Field – Value Adjustment Reference

When recording a transaction, you’ll be asked to assign a Condition to the inventory item. This directly affects the item's recorded value in your system.

Each condition tier represents an approximate depreciation level based on item quality or usability:

Condition	Description	Value Multiplier
A	New or Like New	1.00 (100%)
B	Good Condition, Light Use	0.80 (80%)
C	Functional but Well Used	0.50 (50%)
D	Heavily Used, Poor Condition	0.25 (25%)
E	Scrap or Parts Only	0.02 (2%)

Optional but Recommended Fields

Destination Major Code: Helps group cost codes by department/function.
Storage Location: For refurbishable or static inventory, choose where the item will physically reside.
Comments / Reason for Adjustment: Add context, such as invoice reference, refurb details, or operator notes.

Transaction Summary

At the bottom, a real-time Transaction Summary updates as fields are filled. This is helpful for double-checking before final submission.

Example:

Perform PURCHASE transaction for 1 x Thunderoil V1 (WDC-EQP-25-00099) to 023 (WORKMAN 14-05-002-31 W1 BATTERY) on 5/7/2025. Condition: A. Storage: Yard Lot B.

✅ Final Step: Record the Transaction

Once all required fields are populated, click Record Transaction to submit the change. If any required fields are missing, they’ll be highlighted in red with an explanatory tooltip.

Transaction Statuses

Every inventory transaction is assigned a status that indicates its current stage in the workflow. Understanding these statuses is key to tracking inventory movement accurately and resolving discrepancies.

✅ Booked

The transaction is finalized and has successfully updated the inventory records.
This is the “complete” state, and no further action is required.

⏳ Pending

The transaction has been submitted but is not yet finalized.
This could be due to system sync delays, review processes, or awaiting approval (if applicable).
Inventory totals are not officially updated until the transaction is booked.

❌ Cancelled

The transaction was voided before it could be booked.
No changes were made to inventory, and this action is preserved for auditing purposes.

Note: If you're troubleshooting inventory totals or wondering why a quantity hasn't updated yet, checking the transaction status is a great place to start.