Agenda of the Video▶️: Reclassify an Item's Speciality or Attribute i.e. its feature or specification (like; Bin or Lot or Serial Number) using the Item Reclass. Journal page❕
▫️To Reclassify item, use Search Box, enter Item Reclass. Journal and then click on the related link to open the page/screen/window.
▫️Fill in the line with the required related information.
▫️On the Navigate Tab in the Line, select those relevant details which are required to update the current Data from Existing to NEW.
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Benefit to use the Item Reclass. Journal?
✍️ You can use this to avoid ☀️General Ledger (G/L)☀️ and ☀️Value Entries☀️ Implications.
Because...
▫️Item Journal update the Negative and Positive Adjustment Amount (item values) into the Inventory Adjustment G/L (Receipt & Purchase / Ship & Sales Clearance) Account.
▫️ Check Chart of Accounts (COA) after the Item Adjustment Entry Posting.
* - * - *
✔️Result Analysis of Item Reclass. Journal: -
▫️It only create Item Ledger Entries (ILE).
Or,
▫️If you are using Bins then it will create Warehouse Entries also.
-------------------------------------------------------------
➡️ Inhouse Location (Basic Location, this is Not a Distribution Location/Channel) = Somewhere at inside the Factory Premises or a Plant/Production Location.
--------------------------------------------------
✍️Note:- Concept and Process is the same in Navision & Business Central.✅
--------------------------------------------------------------
Hint 1: No Need to use item journal for passing Negative or Positive Adjustment Entry for the item.✅
Hint 2: Just try to Reclassify the Item attribute, if the requirement is NOT related with Item Costing or GST (Tax) Transfer.✅
Hint 3: Use "Transfer Order" page, if this is the matter of GST (or other relevant tax).
Hint 4: For update in Costing or Amount (including overhead and other charges related effects) use "Revaluation Journal" page.
Hint 5: For Direct Receipt of Inventory into any particular Location, and Removal without using Orders (generation process), try to use "Item Journal" (for Positive and Negative Adjustments of items).
- This is purely based on a solid reason, or depends on any specific situation where Country Users NOT creating Orders and Invoices, i.e. Credit or Cash mode Documents to update outstanding/dues of Vendors & Customers. The said Case Study is based on very small size trade/businesses practice.
--------------
Ques: What is Inventory Reclassification?
OR,
Is existing or assigned "Item Status" that has been Changed to the current & updated?
Ans: Inventory Reclassification: The Item Reclass Journal page is used to reclassify inventory, i.e. to take an item out of stock with reason code and put it in another location perhaps at a different value with (a new lot number if desired) within a warehouse.
----------------
▫️To Reclassify item, use Search Box, enter Item Reclass. Journal and then click on the related link to open the page/screen/window.
▫️Fill in the line with the required related information.
▫️On the Navigate Tab in the Line, select those relevant details which are required to update the current Data from Existing to NEW.
----------------
Benefit to use the Item Reclass. Journal?
✍️ You can use this to avoid ☀️General Ledger (G/L)☀️ and ☀️Value Entries☀️ Implications.
Because...
▫️Item Journal update the Negative and Positive Adjustment Amount (item values) into the Inventory Adjustment G/L (Receipt & Purchase / Ship & Sales Clearance) Account.
▫️ Check Chart of Accounts (COA) after the Item Adjustment Entry Posting.
* - * - *
✔️Result Analysis of Item Reclass. Journal: -
▫️It only create Item Ledger Entries (ILE).
Or,
▫️If you are using Bins then it will create Warehouse Entries also.
-------------------------------------------------------------
➡️ Inhouse Location (Basic Location, this is Not a Distribution Location/Channel) = Somewhere at inside the Factory Premises or a Plant/Production Location.
--------------------------------------------------
✍️Note:- Concept and Process is the same in Navision & Business Central.✅
--------------------------------------------------------------
Hint 1: No Need to use item journal for passing Negative or Positive Adjustment Entry for the item.✅
Hint 2: Just try to Reclassify the Item attribute, if the requirement is NOT related with Item Costing or GST (Tax) Transfer.✅
Hint 3: Use "Transfer Order" page, if this is the matter of GST (or other relevant tax).
Hint 4: For update in Costing or Amount (including overhead and other charges related effects) use "Revaluation Journal" page.
Hint 5: For Direct Receipt of Inventory into any particular Location, and Removal without using Orders (generation process), try to use "Item Journal" (for Positive and Negative Adjustments of items).
- This is purely based on a solid reason, or depends on any specific situation where Country Users NOT creating Orders and Invoices, i.e. Credit or Cash mode Documents to update outstanding/dues of Vendors & Customers. The said Case Study is based on very small size trade/businesses practice.
--------------
Ques: What is Inventory Reclassification?
OR,
Is existing or assigned "Item Status" that has been Changed to the current & updated?
Ans: Inventory Reclassification: The Item Reclass Journal page is used to reclassify inventory, i.e. to take an item out of stock with reason code and put it in another location perhaps at a different value with (a new lot number if desired) within a warehouse.
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Learning