Inventory and Finance

The store needs to know which lot is available; finance needs to explain the value and source of each posting. Inventory records show on-hand and allocated quantities by product and warehouse. Lot records retain supplier and production context, while stock movements explain physical receipts, issues and shipments. Accountant reviews cost standards and source journals alongside invoices and receipts before closing the accounting period.

• Stock position. Review available lots, allocations and physical movements using a consistent product unit. Keep quarantined or held material distinct from stock the floor can issue.
• Cost basis. Separate pending cost standards from current standards. Review material, labor, overhead and outside-processing amounts by product and version before relying on a revised standard for valuation.
• Financial close. Follow shipment evidence into the eligible customer invoice, then reconcile confirmed cash and outstanding amounts. Review draft journals in the period window before the period is locked.

Reconcile opening quantities with the physical store, including yarn lot identifiers and finished-goods quantities. Decide how staff identify the warehouse, location and lot during a count. Agree who reviews a count variance before the count line progresses from Counted to Approved and then Posted.

Accountant should bring the chart of accounts, current standards and the open-period calendar. Agree which system owns final financial reporting and whether reviewed journals will be sent to an external ledger. Confirm how the team records customer payments and retains the bank reference. Set responsibility for any period reopening before the first close.

Take a completed garment job into finished stock, then prepare an eligible delivery against its approved customer order. Operator checks the picked and packed scope before shipment. Accountant follows the resulting invoice to the delivery and customer order, then compares the shipment movement with its journal. Repeat the shipment request during rehearsal and confirm that the original movement and invoice remain the explanation for that delivery.

Record a partial customer payment and review the remaining invoice amount. The delivery being Shipped does not settle the invoice; the payment evidence explains the reduction in the outstanding balance. Review unapplied money separately before the customer-account discussion.

Next, inspect a physical count with a variance. Keep the book quantity and counted quantity visible while the assigned reviewer examines the difference. Trace the posted adjustment back to the count decision before using the revised stock position in the next production plan.

Finish the cycle with Accountant’s period review. Inspect draft journals within the selected date window and reconcile their sources. Once the period is Locked, test a later posting into that window and confirm that it does not enter the closed books. Any reopening needs the named person responsible for that decision.

• Open Posting Periods — Open and closing periods with their date windows and lock information.
• Available Lot Inventory — Available lot quantities and source references for authorized specialty review.
• Supplier Match Exceptions — Unresolved invoice differences that need attention before financial review can finish.

Follow shipment to period close and review the data model before importing opening balances.