Inventory (INV)
Inventory Module closes Tuesday 11 August
- Essential Tasks
- Finance Division actions - for information
- Physical stock takes
- Inventory module users only
- Central and Research Accounting (CRA) actions
| Essential tasks | Final date for completion |
|---|---|
| Physical stock take (all institutions with stores) | Fri 31 Jul |
| Update Inventory balances with the results of stock take | Tue 11 Aug |
| Process all receipts and issues of stock up to 31 July | Tue 11 Aug |
| Finance Division activities - for information | Key dates |
|---|---|
| Institutions provided with inventory reconciliation | Wed 12 Aug |
Physical stock takes
All institutions with stores are required to complete a physical stock count as at 31 July (regardless of whether the institution is using the Inventory modules in CUFS).
It is essential that all receipting into stores and issues from stores are up to date of year end so an accurate stock take can be completed on the last day of the financial year
Inventory module users only
- enter results of stock count on the Inventory module - reviewing any material variances
- ensure all receipts and issues of stock up to 31 July are processed. This includes issues to or returns from research grants
- review and resolve any pending transactions
- inform the Inventory helpdesk of any miscellaneous processing that is required
Central and Research Accounting (CRA) actions
Central and Research Accounting will:
- carry out transfers to the General Ledger and Grants
- process miscellaneous transactions on request
- reconcile the Inventory and General Ledger valuations and provide institutions with the reconciliation documents
In case of queries contact the Inventory helpdesk or tel. 65999 Option 5 then 1