Authorize Opening Balance

This page allows you to update, authorize, and return the opening balance transaction. You can add details for new item/variants or modify the stock quantity, stock status and warehouse details. You can also return the opening balance transaction if you find any discrepancy in the details entered.

Select the “Authorize Opening Balance” link at the top of the “Select Opening Balance Transaction” page.

The “Authorize Opening Balance” page appears.

The system displays the following:

Status	The status of the opening balance transaction. The transaction must not be in “Authorized” or “Deleted” status.
Transaction No.	The number identifying the opening balance transaction

Enter the following:

Transaction Date	The date on which the transaction took place (Date Format).
Warehouse Code	The unique code of the warehouse in which the opening balance is being made (Alphanumeric, 10). Mandatory. Ensure that the warehouse code is defined for the login organizational unit (OU) and is in “Active” status.
.	Help facility available

The system displays the following:

Warehouse Desc.

A textual description of the warehouse. The system retrieves the description for the corresponding warehouse code from the “Storage Administration” component and displays it.

Enter the following in the “Reason for Return” group box:

Reason Code	The code identifying the reason for returning the opening balance transaction (Alphanumeric, 6). This code must have been defined in the “Classes” component and must be in “Active” status.
Reason Desc.	A textual description of the reason (Alphanumeric, 100). The system retrieves the description, if it has been defined, for the corresponding reason code from the “Classes” component.

Enter the following in the “Item Information multiline:

Item Code	A unique code identifying the item for which opening balance is to be authorized (Alphanumeric, 32).
	Help facility available.
Variant Code	Variant code of the item (Alphanumeric, 8). Ensure that the variant code is not left blank if the item corresponding to the item code supports variant.
	Press <Enter> Key
	Help facility available.

Note: Item Code entered must not be of item types, "Service", "Model" Or "Kit “or “Reference Item”

The system displays the following in the “Item Information” multiline:

Item Variant Desc.	A textual description of the item variant.
Stock UOM	The unit of measurement of the item in which it is stored in the warehouse.

Enter the following in the “Item Information” multiline:

Qty.	The number of units of the item received into the warehouse (Integer). Ensure that the value entered in this field is greater than zero.
Stock Status	Use the drop-down list box to select the stock status of the item for which you need to enter the opening balance. All the stock statuses defined for the “Opening Balance” transaction type in the “Stock Status Definition” component will be displayed there. The system also displays “Blank” as one of the values. Ensure that this field is not blank if the sub-lot applicable combo is set as “No”.
Zone	The number identifying the zone in which the item is stored in the warehouse (Alphanumeric, 10). This number must have been defined in the ““Storage Administration” component for the warehouse and must be in “Active” status.
	It is mandatory to enter this field, if the warehouse selected is of type “Normal”.
.	Help facility available
Bin	The number identifying the bin in which the item is stored (Alphanumeric, 10). This bin number must have been defined in the “Storage Administration” component for the warehouse – zone and must be in “Active” status.
	It is mandatory to enter this field, if the zone selected is of type “Normal”.
	Help facility available.

Note: It is not mandatory to enter zone and bin, if the warehouse type is “Free”.

If the storage rule for the item/variant is not given as "Only At" and if the warehouse has more than one zone defined under it, then ensure that the zone field is not left blank. Similarly if the storage rule for the item/variant is not given as "Only At" and if the zone has more than one bin defined under it, then ensure that the bin field is not left blank.

Lot No.	The unique number identifying the lot in the warehouse (Alphanumeric, 28.
	Help facility available.

Note: When the lot number is entered, the system checks whether the system parameter "Lot no Unique across items" is set as "Yes". If so, the system displays an error message if the lot number has been previously allotted for any other item/variant.

Ref. Lot No.	The lot number specified by the vendor or manufacturer (Alphanumeric, 28).
Manufacturing Date	The manufacturing date of the received items.(Date format) Mandatory for LOT controlled items.
Sub Lot Applicable	Use the drop-down list box to specify whether sub-lot is applicable for the lot. Selecting “Yes” from the drop-down list box indicates sub-lots can be defined for the lot. The system provides the options, “Yes” and “No”. Ensure that this field is set as “No” if the item is lot controlled and stocks are stored only at the lot level.

Note: If the item is lot controlled and s sub lots are defined for the lot. already, the system sets the sub-lot applicable field as “Yes” by default. The system displays an error message if you change this value as “No”.

The system displays the following:

Serial Controlled

Indicates if the item is serially controlled.

Costing Method

The costing method used to calculate the rate or value of the item at an inventory location. The system lists any one of the following costing methods.

Standard Cost – indicates that the valuation is made at the standard cost
LIFO (Last In First Out) - indicates that the items are issued at the latest price. Issues thereafter are made at previous prices. A strict chronological order is followed.
FIFO (First In First Out) – indicates that the items are issued at the earliest receipt prices. Issues thereafter are issued at later prices in a strict chronological order
Weighted Average Rate – indicates that the issue rate is calculated as the average of stock value by the stock quantity
LFL – indicates that stocks are issued at the rate specified for each lot.

Select the “Select” column in the multiline for viewing item details, modifying sub-lot, serial number and rate information, attaching notes, creating lot information, viewing storage allocation details, warehouse stock and storage information.

Click the “Authorize Opening Balance” pushbutton to authorize the opening balance transaction.

The system displays the message “Transaction authorized successfully”.

The system updates the reference lot and serial numbers for the corresponding lot and serial numbers of the item/variant in the “Lot Management” and “Serial Management” components respectively.

The system sets the status of the transaction as “Authorized”.

Click the “Update Opening Balance” pushbutton to update the opening balance transaction.

The system displays the message “Transaction modified successfully”.

The system saves the transaction details.

Click the “Return Opening Balance” pushbutton to return the opening balance transaction without authorizing.

The system sets the status of the transaction as “Returned”. The system displays the message “Transaction returned successfully”.

The system saves the reason code if both the description retrieved from the “Classes” component and the description entered manually are the same. Else, the system saves the reason description.

The system displays the following:

Created By	The login id of the user who created the opening balance.
Created Date	The system date on which the opening balance is created
Last Modified By	The login id of the user who lastly modified the opening balance.
Last Modified Date	The system date on which the opening balance was last modified.

To proceed, carry out the following

Select the “View Item Details” link at the bottom of the age to view the details of items.

Select the “Sub Lot Information” link at the bottom of the page to modify sub-lot information.

Select the “Serial No. Information” link at the bottom of the page to modify serial number information.

Select the “Rate Information” link at the bottom of the page to modify rate information.

Select the “Attach Notes” link at the bottom of the page to attach notes for the opening balance.

Select the “Create Lot Information” link at the bottom of the page to create and main lots.

Select the “View Storage Allocation Details” link at the bottom of the page to view the storage allocation details.

Select the “View Warehouse Stock” link at the bottom of the page to view the warehouse stock details.

Select the “View Warehouse Information” link at the bottom of the page to view the storage information details.