Users are provided with ultimate flexibility as they are not constrained to entering inventory transactions in sequence, while the automated recalculation of inventory unit costs ensures that inventory values are always accurately stated and maintained.
Montreal, Quebec (PRWEB) December 11, 2014
ALCIE Integrated Solutions Inc. (AIS) has released an important functionality enhancement to its ALCiE Inventory Management applications. This functionality features automated handling of retroactive (backdated) inventory transactions – that is, inventory movements that have taken place in the past, whether a few days ago or a few months ago. This means that end users do not need to enter transactions in chronological sequence, which is required by many software systems to ensure that inventory values and average unit costs of items are stated accurately at all times.
The benefits ALCiE Inventory Cost Management are that it:
- provides automated handling of retroactive inventory transactions;
- maintains accurate inventory valuations;
- eliminates the need to enter transactions in chronological sequence;
- reduces preparation time for data entry since transactions can be processed in any sequence.
A common issue faced by end users is that their software application lacks the ability to handle retroactive inventory transactions such that unit costs and inventory values are accurately maintained throughout the history of an inventory item. For example, the entry of backdated transactions affecting the unit cost of an inventory item should result in the recalculation of the item’s average unit cost (and, therefore, inventory value) starting from the date of the transaction through to current day. In the absence of such processing, these backdated transactions will adversely, and inaccurately, affect inventory cost information.
To get around this problem, many software packages – including high-end ERP systems – require that inventory transactions be properly sequenced so that their application correctly recalculates unit costs and uses the correct costs to value transactions. Furthermore, some of these software packages may also prevent end users from entering backdated transactions altogether.
With the enhanced functionality in ALCiE Inventory Management, end users are provided with ultimate flexibility as they are not constrained to entering inventory transactions in sequence, while the automated recalculation of inventory unit costs ensures that inventory values are always accurately stated and maintained.
The enhanced ALCiE Inventory Cost Management functionality has been added to the following applications:
- ALCiE Accounts Payable – processing of inventory purchases
- ALCiE Accounts Receivable – processing of inventory sales
- ALCiE Inventory – processing of manual inventory adjustments: issues and receipts
More information on ALCiE Inventory Cost Management enhancements can be obtained by contacting AIS or visiting the ALCiE website http://www.alcie.com.
AIS also develops and delivers best-fit ALCiE software products across a variety of industries, sectors, and businesses of all sizes, by way of: an assortment of Solutions; multiple Editions; and individual modules known as Elements.
About ALCIE Integrated Solutions:
ALCIE Integrated Solutions (AIS) is the owner and developer of the unified family of ALCiE business applications software. AIS’s mission is to create and deliver best-fit, cost-effective and scalable solutions to meet the business requirements of growth-oriented enterprises. ALCiE has been developed, installed and supported as off-the-shelf and custom business applications for over 25 years. ALCiE business applications software distinguishes itself as an affordable, truly integrated and scalable option for a variety of industries and sectors. ALCiE applications are built on robust and dependable Oracle technology.
ALCIE Integrated Solutions Inc.
Tel.: 1.514.744.3440, ext. 104
Toll-free (North America): 1.888.252.4350
ALCiE is a registered trademark of ALCIE Integrated Solutions Inc.
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