Sage Intacct Guide: Mastering Serialized Inventory and Custom Sales Workflows

Managing Serialized Stock Inventory & Custom Order Entry Workflows in Sage Intacct

Managing inventory and customizing order entry workflows are critical for businesses dealing with serialized stock items. In a detailed video tutorial, Mike Baio from Bangert demonstrates how to effectively track inventory items requiring serial numbers in Sage Intacct and how to customize transaction definitions and workflows to meet specific business needs. Here's a summary of his guide:

Tracking Serialized Inventory Items

  1. Setting Up Inventory Items:

    • Ensure serial numbers are enabled in the inventory items setup.

    • Include details like base prices, quantities on hand, on hold, and on order.

  2. Issuing Inventory Receipts:

    • For the demo, Mike issues direct receipts into inventory without a purchase order.

    • In 'Inventory' > 'Receipts', enter new inventory receipts including item details and costs.

    • Serial numbers are required for serialized items. Enter them in the 'Serial Lot Bins' section.

  3. Viewing Updated Inventory:

    • Post-receipt, inventory items will show updated quantities on hand and on hold.

Customizing Order Entry Workflows

Creating a Quote

  1. Initiating a Quote:

    • In 'Sales Order Entry', create a new quote, including customer details and item selections.

    • Provide details like project information, payment terms, and item pricing.

  2. Converting to Customer PO:

    • Once the quote is accepted, convert it to a 'Customer Purchase Order (PO)'.

    • This action can put inventory items on hold without removing them from stock.

Accepting Advances or Deposits

  1. Recording Advances:

    • Under 'Accounts Receivable' > 'Advances', record any advances or deposits received against the customer PO.

    • Link these advances to specific customer POs for easy tracking.

Converting to Sales Invoice

  1. Finalizing the Sale:

    • Convert the customer PO to a sales invoice in the 'Sales Order Entry'.

    • Serial numbers must be specified for serialized items during this step.

    • The system automatically updates inventory, reflecting the sold items.

Applying Advances to Invoice

  1. Closing the Transaction:

    • Apply the recorded advances or deposits to the final sales invoice.

    • Sage Intacct automatically handles the necessary accounting entries.

Conclusion

This workflow demonstrates Sage Intacct's flexibility in handling serialized inventory and customizing transaction workflows. By following these steps, businesses can maintain accurate inventory records and streamline their sales process.

For a visual guide and further details, watch Mike Baio's tutorial: Tracking Serialized Stock Inventory & Custom Order Entry Workflows in Sage Intacct. This comprehensive video provides step-by-step instructions, making the process clear and manageable.