Microsoft Dynamics GP Inventory Control

Code: 8512
Course duration: 1 days

8512: Inventory in Microsoft Dynamics GP 9.0 (1 Day)

About this Course

The Microsoft DynamicsT GP Inventory Control course explores all aspects of the Inventory module from the initial setup of inventory items and the multiple methods of valuation supported, to the types of inventory transactions available and the tight integration to the Purchase Order Processing and Sales Order Processing modules.
You learn how to control inventory challenges and maximize your company's net profits based on the way you do business. This course shows you how to define default inventory account numbers, COGS, variances, sites, product classes, valuation methods and more, which will improve efficiency and cut down on costly data entry errors.

This course shows you how to group items for pricing, promotional, or analytical purposes and by type, such as finished goods, raw material, component, and more. You learn how to quickly find information such as inventory quantity on hand, quantity available, quantity on back order, costs, and list prices, and where to drill down to transaction details. You learn how to manage multiple sites, multiple bins within sites, negative quantities, and lot/serial numbers. You see how Lot/Serial Number tracking is streamlined during inventory transaction entry.

You can simplify entry and reconciliation of physical inventory counts with a variety of options.

Audience Profile

Inventory Control training is recommended for anyone who plans to implement, use, maintain, consult, or support any part of the Inventory and Order Processing series. The class is targeted toward administrators, office managers, CEOs, and consultants who need to understand the technical aspects of Inventory Control and gain foundational knowledge of the application functionality.


Before attending this course, students must have:

  • General knowledge of Microsoft Windows
  • Knowledge of basic navigation functions in Microsoft Dynamics GP
  • Completion of General Ledger, Receivables Management, and/or Payables Management training course required

At Course Completion

After completing this course, students should be able to:

  • Understand how Inventory Control module transactions integrate with other Dynamics GP modules and improve your business bottom line
  • Use the Inventory Control module to process receipts, make adjustments to inventory, and transfer transactions
  • Use Inventory Control inquiry screens and reports to extract and analyze appropriate information to maintain and improve inventory business processes
  • Create and assemble kits
  • Understand how maintenance screen options affect transactions in the Inventory module
  • Process physical inventory transactions and record the results
  • Document month end processes and close the Inventory module
  • Define setup options for the Inventory module that allow you to customize your system to better fit your organization's unique needs

Course Outline

Module 1: Overview

This chapter introduces you to the Inventory Control module of the Microsoft Dynamics GP product and training course, and the screens and processes that are used to complete the accounting cycle in Inventory.
It is important to note that this chapter is optional and can be skipped at the instructor's discretion if the instructor feels that each student's background provides sufficient experience in these topic areas.


  • Course Description
  • Module Overview
  • Process Flow
  • Other Features

After completing this chapter, students will be able to:

  • Understand the goals of this course
  • See how the Inventory Control module fits into the suite of available modules for the Dynamics GP system
  • Follow the flow of transactions through Inventory

Module 2: Setup Procedures

This chapter examines the setup options available in the Inventory Control module. We introduce each of the required steps along with recommended options for various business models. This chapter discusses each option in detail and provides examples to better illustrate concepts.


  • Procedures for Setting up Inventory Items
  • Item Classes
  • Unit of Measure
  • Price Levels
  • Prices Groups
  • Inventory Items
  • Price Lists
  • Inventory Quantities
  • Bins
  • Purchasing
  • Vendors
  • Kits
  • Lot Categories
  • Reports
  • Beginning Quantities
  • Stock Calendar

Lab : Inventory Setup

Lab : Unit of Measure Schedule Setup

Lab : Price Level, Price Group Setup

Lab : Lot Category Setup

Lab : Stock Calendar

Lab : Item Class Setup

Lab : Accounts Setup

Lab : Item Site Maintenance

Lab : Item Maintenance

Lab : Item Price List

Lab : Item Quantities/Site Maintenance

Lab : Item Site Default Bins

Lab : Item Quantity Stock Count

Lab : Item Purchasing Options Maintenance

Lab : Item Vendor, Customer Maintenance

After completing this chapter, students will be able to:

  • Personalize Inventory Management using the Inventory Setup windows
  • Add Item Classes
  • Set up items codes and characteristics to better track throughout the system
  • Enter Beginning balances

Module 3: Inventory Control Daily Procedures

This chapter introduces the main Inventory transaction screens. An inventory transaction is processed whenever an inventory item's quantity or cost information changes. You gain an understanding of how Inventory transactions can be used to record issues and returns, to adjust quantities and costs, and to move items from site to site and bin to bin. You review the process by which Inventory transactions are released to the General Ledger depending on your posting setup. You also examine the methods for performing physical inventory counts. You see how to complete a full physical inventory and the various options available for selecting items to include in a cycle count.


  • Inventory Batch Posting
  • Inventory Single Posting
  • Changing Quantity Types
  • Cost Variance Journals
  • Adjustment Transactions
  • Variance Transactions
  • Transfer Transactions
  • Stock Counts

Lab : Increase Adjustments

Lab : Variance Transaction

Lab : Transfer Transaction

Lab : Stock Count Schedule

Lab : Stock Count Entry

Lab : Multi Bin Adjustment/Transfers

After completing this chapter, students will be able to:

  • Differentiate between Batch posting and Transaction Posting
  • Different Methods of posting
  • Enter Inventory Transactions (posting to General Ledger), Inventory Transfers, and Inventory Variances
  • Generate and Enter Stock Counts
  • Transfer items between Bins

Module 4: Maintaining Records

This chapter discusses how to make cost, valuation, and price adjustments to existing items in your system. You also see how to delete item records when necessary.
You review a series of screens available for viewing inventory item balances and easily drilling down to the transaction details. The Inquiry screens allow you to quickly view item information without having to print reports. You also discuss the Inventory detail retention and deletion options.


  • Change and Delete Records
  • Change Valuation Methods
  • Change Decimal Places
  • Adjust Costs
  • Remove History
  • Remove Bins
  • Reconcile
  • Price List Utilities
  • Item Inquiries
  • Creating/Printing Inventor Reports

After completing this chapter, students will be able to:

  • Change Valuation Methods, Costs, and Prices of existing items
  • Remove Bins
  • Delete Item records
  • Remove Historical Data

Module 5: Period-End Procedures

This chapter examines the process of closing an accounting period and the fiscal year for the Inventory Control module. The steps necessary to complete each phase of the closing process is discussed for the end of a period as well as a fiscal year. You look at the reports that should be printed before performing the closing process. Time is spent examining what actually takes place during the closing process and approaches that an organization may use for this process.


  • Period-end Checklist
  • Printing Reports
  • Completing ABC Analysis
  • Closing the Fiscal Period
  • Year-end Closing

After completing this chapter, students will be able to:

  • Complete the processes that are performed at the end of an accounting period
  • Complete the processes that performed at the end of a fiscal year
  • Perform the Year-end closing process for Inventory Control

Module 6: Appendix: SmartList

This appendix discusses the use of SmartList to access financial data. There are also optional exercises that can be completed by students if time permits.


  • Using SmartLists
  • Creating Objects
  • Using the Search Button
  • Saving New Objects as Favorites

Lab : Create a SmartList Account Inquiry

Lab : Save the query as a Favorite

Lab : Create a SmartList Account Transaction Inquiry

Lab : Create a SmartList Account Summary Inquiry

Lab : Create a SmartList Multidimensional Analysis Inquiry

Lab : Export Information to Microsoft Excel

Lab : Print Reports

After completing this chapter, students will be able to:

  • Use SmartLists to access valuable sales data
  • Create new SmartList objects
  • Use the Search button to manage the information in a view
  • Explain the various options that are available when using SmartLists

Module 7: Appendix: Case Study

This case study is a comprehensive lab that can be used to reinforce the learning that has occurred throughout the Inventory Control class.


  • Inventory Control Setup
  • Inventory Control Document Entry
  • Printing Inventory Control Documents

After completing this chapter, students will be able to:

  • Understand the necessary processes to set up and manage their Inventory Control module
  • Have more confidence in their ability to use Inventory Control in their company

Module 8: Appendix: Test Your Knowledge

This appendix contains short answer and True or False questions that may be used as a review of the information covered in this course and may be used as time permits. Answers to all questions are provided at the end of the section.

Guaranteed to Run

2020-03-18 09:00 to 2020-03-20 17:00
Newark, New Jersey (Virtual Instructor-Led)
2020-03-18 09:00 to 2020-03-20 17:00
Attend Online
2020-03-09 09:00 to 2020-03-13 17:00
Attend Online
2020-03-04 09:00 to 2020-03-06 17:00
NYC-23rd Street (Virtual Instructor-Led)
2020-03-02 09:00 to 2020-03-06 17:00
Fort Lauderdale, Florida (Virtual Instructor-Led)
09:00 to 17:00
Secaucus, New Jersey (Instructor-Led)

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