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Inventory management- Adding new charges code
To add a new charge code with item on the debit side
Inventory Transfers
- We have an ISV solution that uses the standard miscellaneous charge code functionality in order to be able to include additional charges, such as freight, in the actual inventory value.
- Our ISV solution uses transfer orders to generate and record all of the movements between warehouses
Business Impact
- Our Commodity Trading and Risk Management (CTRM) solution are used by our clients to manage their commodity contracts and logistics business.
- The CTRM business can be a high-volume low margin business and accurate control and reflection of all costs across the supply chain are essential to help secure margins and mitigate any loss.
- To date our clients have been able to leverage the miscellaneous charge functionality which allowed additional costs to be reflected in inventory valuations for a more accurate reflection of all costs of goods. However, with the recent change, they cannot add to the existing charge codes to allow them to continue to do this.
To achieve this, we have to add a new charge code with item on the debit side.
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