Initializing your inventory balance for the Inventory Control Report: Before you run your first Inventory Control Report, you should initialize your inventory balance to ensure accurate reporting. You can initialize inventory as part of your installation procedure, after running conversion programs, or you can initialize at any time before you run the Inventory Control Report.
How to initialize inventory: Enter IITC in the Fast path at the top of any menu. The Initialize Item Transaction Control screen displays the following warning:
This function will delete all item transaction control records for the selected company displayed above and build a starting balance based on current on hand totals for all warehouses. No inventory transactions should be taking place while this process is running.
Select Submit to initialize inventory.
The first time you run the Inventory Control Report after initializing, the report will display a starting balance of 0 (units and dollar value) as of the current date, and an ending balance of the current on hand totals for the warehouse. Thereafter, when you run the PINC report, starting balances for dates earlier than the current date will be 0. Balances for the date on which you initialize or later will reflect accurate inventory totals.
For more information: See Printing the Inventory Control Report (PINC).
