How do I salvage inventory?

Record when inventory items have been taken out of service but are still usable.

You can print a materials salvaged ticket that includes the details for the salvaged inventory.

Contents

Salvaging inventory
Changing a salvage inventory transaction
Delete a salvage inventory transaction
Options

Salvaging inventory

1. Open Connect Materials Management > Inventory > Salvage Inventory.

2. Enter the Comments.

This field is information only. A comment is a note explaining or illustrating the meaning or purpose of a transaction. The note is saved with the transaction and you can view it using Inquiry and it can be included on some reports.

3. Select the Salvage Type.

The salvage type is the assigns the salvage transaction to a GL account or job. The default value is set in the Organization table.

4. If the salvaged inventory is linked to a job number, enter the Job Number and Project.

5. Enter the Inventory Number..

This is the inventory number for the salvaged inventory.

6. Select the Location.

This is the location where the salvaged inventory is located.

7. Select the GL Account.

A GL account is an account in the General Ledger that records credits and debits for the inventory.

Do you know the GL account to return the salvaged inventory to?

Yes, I know the GL account. Enter a GL account in the GL Account field.
No, I do not know the GL account. You can use the GL account drop-down list to view the GL accounts related to the selected inventory item, or click Search.

8. Enter the Quantity.

The quantity is the number of items being salvaged.

What is the quantity?

Use the default quantity for the salvage transaction. This information is displayed.
Change the quantity. Use the Quantity field to edit the quantity.

9. Enter the Unit Cost.

The unit cost is the price for a single item or unit.

What is the unit cost?

Use the default unit cost for the selected inventory. This information is displayed.
Change the unit cost. Click on the Unit Cost field to enter a new unit cost.

10. Enter the Total Cost.

Total Cost = Quantity x Unit Cost

Is the total cost correct?

Yes, the total cost is correct. Press Enter again to save the transaction. The saved transactions display in the grid that is located at the bottom of the form.
No, the total cost is not correct. Click on the Total Cost field and type in an amount. Press Tab to update the Unit Cost field. Unit Cost = Total Cost / Quantity.

11. Click Save (CTRL+S).

The transaction is saved.

Changing a salvage inventory transaction

Edit the properties assigned to a transaction that records inventory that was salvaged.

Has the transaction been updated to the General Ledger or Project Accounting?

Yes, the transaction has been updated to the General Ledger or Project Accounting. Use Connect Materials Management > Inventory > Adjust Inventory to edit the transaction.
No, the transaction has not been updated to the General Ledger or Project Accounting. Use Connect Materials Management > Inventory > Salvage Inventory in Edit mode to update the transaction. Make sure to enter the input date that was used to record the transaction BEFORE you switch to Edit mode (CTRL+E). Then, select the transaction from the grid, located at the bottom of the form.

What if I need to edit a transaction that was entered in Split mode?

When you make changes to the job number or project, the same change will be applied to all of the sequences that belong to the same reference number.

Delete a salvage inventory transaction

Remove a transaction that records inventory that was salvaged.

What do you want to do?

I want to abort the current transaction. Click Delete (CTRL+D).
I want to delete a saved transaction that has not been updated to the General Ledger. Click Delete (CTRL+D). When the Salvaged Returned Transactions form displays, set up the form options and enter the reference number or reference numbers. What if I don't know the reference number? Use Redisplay (CTRL+Shift+F3) to search for reference numbers.
I want to delete a saved transaction that HAS been updated to the General Ledger. Use Connect Materials Management > Inventory > Adjust Inventory to reverse the saved transaction.

Options

Comments

Do you want to add a comment?

Yes, I want to add a comment. Click on the Comments field, then enter a comment (up to 50 characters).
No, I do not want to add a comment. Leave the Comments field blank.

GL account

A GL account is an account in the General Ledger that records credits and debits

Do you know the GL account to return the salvaged inventory to?

Yes, I know the GL account. Enter a GL account in the GL Account field.
No, I do not know the GL account. You can use the GL account drop-down list to view the GL accounts related to the selected inventory item, or click Search.

Input date

The input date is the date the system will use to record the salvage inventory transaction.

Do you want to use the current date as the input date?

Yes, I want to use the current date as the input date. The default date is the current date. Continue to the next step.
No, I want to use a different date as the input date. Click on the Input Date field, and then enter a MM/DD/YYYY.

Inventory number

An invoice number is a number that is assigned to an itemized list of goods shipped that usually specifies the items, quantity, price, and terms of sale.

What is the invoice number?

I have the invoice number. Use the Invoice Number field to type in the invoice number that is assigned to the invoice.
Help me find the invoice number. You can Search (F9) this field to show a list of previously entered invoice numbers.

Job number

A job number refers to a user-defined code that is created in Connect Project Accounting for reporting resources and transactions associated with a specific job.

What is the job number?

I know the job number. Use the Job Number field to enter it.
Help me find the job number. Click Search, it's located at the end of the Job Number field.

Location

This is the location where the salvaged inventory is located.

Where do you want to return the salvaged inventory?

I want to return the inventory to the default location. The default location is set in the inventory record. Continue to the next step.
I want to return the inventory to a different location. Select a different option from the Location drop-down list.

Options

Use Options (F12) to modify the routine's properties.

Do you want to print the materials returned ticket after each entry?

All of the options, listed below, will create a returned record transaction.

I want to print the materials salvaged ticket after each entry. Click Options (F12). Select Print from the Print Materials Salvaged Ticket When Created drop-down list. Then, select a form title from the Materials Salvaged Ticket Report Title field.
I want to preview the materials salvaged ticket after each entry. Click Options (F12). Select Print Preview from the Print Materials Salvaged Ticket When Created drop-down list. Then, select a form title from the Materials Salvaged Ticket Report Title field.
I want decide when to print the materials salvaged ticket. Click Options (F12). Select Prompt Each Time from the Print Materials Salvaged Ticket When Created drop-down list. Then, select a form title from the Materials Salvaged Ticket Report Title field.
I do not want to print the materials salvaged ticket. Click Options (F12). Then, select No from the Print Materials Salvaged Ticket When Created drop-down list.

Print form

Use Print Form (CTRL+P) to reprint the materials salvaged ticket for a specific reference number.

Project

A project is a large undertaking that involves more than one property

Is the salvaged inventory tied to a property?

Yes. Select the property number from the Property drop-down list.
No. Skip this field.

Quantity

The quantity is the number of items being salvaged.

What is the quantity?

Use the default quantity for the salvage transaction. This information is displayed.
Change the quantity. Use the Quantity field to edit the quantity.

Redisplay transactions

Use Redisplay (CTRL+Shift+F3) to show transactions by input date.

Salvage date

The salvage date is the date the inventory will be returned to the location.

Do you want to use the current date as the salvage date?

Yes, I want to use the current date as the return date. The default date is the current date. Continue to the next step.
No, I want to use a different date as the return date. Click on the Salvage Date field, and then enter a MM/DD/YYYY.

Salvage type

The salvage type assigns the salvage transaction to a GL account or job. The default value is set in the Organization table.

Where is the inventory being returned from?

I am salvaging inventory assigned to an account. Select Account from the Salvage Type drop-down list.
I am salvaging inventory assigned to a job. Select Job from the Salvage Type drop-down list. Then, enter the Job Number and Project.

Split mode

Use Split Mode (F11) to enter multiple entries for the same reference number, job number, and project. When Split Mode is turned on, the routine will assign the same job number and project values. When Split Mode is turned off, you will need to enter the job number and project values.