Receiving Vendor Promotional Products into Inventory

Details:
There may be times when you receive promotional products from your Vendor, at no charge to your company. In these situations you still need to record those items as quantities in stock, so you can keep track and sell them to your customers if desired. This process should follow the normal process for inventory management and bill payment, but be adjusted to a ZERO dollar cost.

Step by Step:

  1. Create a Vendor PO for the item(s) that have been given as promotional item.

  2. Change the PO Status to On Order

  3. Receive Item(s)

  4. Enter Bill for Vendor - complete the vendor bill profile as standard process. You may not have an invoice number, simply enter something to reference the invoice in the field.

  5. Leave the invoice amount as $0.00

  6. Click on Apply Inventory Tab

  7. Attach Item Receipts

  8. Click Update Costs

  9. Change the Purchase price to $0.00

  10. Click OK twice to update cost

  11. Click OK to save New Bill

  12. Evosus will ask "Do you want to save a Zero Invoice" click Yes,

  13. Click OK to save

  • You can review the Vendor Profile for the invoice that was created for $0.00

  • This process allows you to keep inventory quantities of inventory items and the proper costs associated for the Inventory Valuation Report.