Issue/Symptom/Question

When a new product is acquired, and we're ready to go into Penta to assign it to a warehouse and initial account, is that done through the Material Transfer screen?

Applies To

Inventory > Setup > Product Information
Inventory > Warehouse Transactions > Material Transfer
Inventory > Setup > Warehouse / Product Information

Resolution/Fix/Answer

Generally when a new product is purchased, you have a Payable invoice set up, charged to the AP account, with an offsetting entry to the Inventory clearing or acquisition GL account.

If this is the first (and only) entry to date for the product, you certainly could set up a material transfer to move the items from this GL clearing account to the Warehouse, assigning the unit price at this time.

You can also assign the Product directly to the Warehouse in the Warehouse/Product Information screen, and then transfer the product to the job or other location; in this case, no product pricing would have been entered, so Penta will use the weighted average cost as calculated.

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