Finished Feed adjustments

The adjustment screen allows quantity or value adjustments to be made to finished feed inventory.  The adjustment will debit or credit the quantity and/or the amount depending on the type of transaction.  The following adjustments can be made.

• Adjustment Debit/Credit: Records quantity-only adjustments to finished feed. The global post process will value the adjustments for the posting period, create journals to account for the transactions and mark the transaction as posted.
• Value Debit/Credit: Records dollar-only adjustments or quantity and dollar adjustments. The global post process will include these transactions in the period valuation of transactions and mark the transaction as posted.

The Finished Feed Adjustment document contains the following components:

• Creating a Finished Feed Adjustment
• Adjustment Debt/Credit
• Value Debit/Credit

Create a Finished Feed Adjustment

1. In FMIM>Transactions>Feed Production, select Adjustments.

2. In the Finished Feed Inventory Adjustments main index, select to create a new record.
3. In the Trans Date/Time field, enter the date of the transaction. If the Registry>Feed Mill>FMIM>General>Inventory Date Mode is set to Date/Time, the time will default to the current time and modified as required.
4. From the Feed Mill No drop down menu, select the required feed mill and click 'OK'.
5. In the Finished Feed Adjustments screen,  select to create a new transaction. Choose from one of the following four options:
   1. Adjustment Debit: Used to increase the quantity-only adjustments to finished feed. The global post process will value the adjustments for the posting period, create journals to account for the transactions and mark the transaction as posted.
   2. Adjustment Credit: Used to  decrease  the quantity-only adjustments to finished feed. The global post process will value the adjustments for the posting period, create journals to account for the transactions and mark the transaction as posted.
   3. Value Debit: Used to increase the  dollar-only adjustments or quantity and dollar adjustments. The global post process will include these transactions in the period valuation of transactions and mark the transaction as posted.
   4. Value Credit: Used to decrease the  dollar-only adjustments or quantity and dollar adjustments. The global post process will include these transactions in the period valuation of transactions and mark the transaction as posted.

Adjustment Debit/Credit

1. In the Finished Feed Adjustments screen,  select and select either Adjustment Credit or Adjustment Debit.

2. FMIM Ingredients Trans Code will default in.
3. From the Ingredient No drop-down menu, select the required ingredient to be adjusted.
4. Ingredient Name will default in.
5. From Silo No, select the silo where the ingredient is being stored.
6. Silo Name will default in.
7. Select the Lot No of the ingredient, if applicable.
8. Ref No is used to enter a reference number for the adjustment, and can be automatically or manually entered depending on the switch set-up.
9. Enter the Quantity of the ingredient being adjusted.
10. The Value will be based on the estimated cost of the adjustment. The Value will be adjusted to actual cost when Global Post is run.
11. Enter the Ingredient Expiration Date, if applicable.
12. Close and save the transaction.
13. The adjustment transactions will be posted at Global Post.

Value Debit/Credit

1. In the Finished Feed Adjustments edit screen,  select and select either Value Credit or Value Debit.

2. MIM Ingredients Trans Code will default in.
3. From the Ingredient No drop-down menu, select the required ingredient to be adjusted.
4. Ingredient Name will default in.
5. From Silo No, select the silo where the ingredient is being stored.
6. Silo Name will default in.
7. Select the Lot No of the ingredient, if applicable.
8. Ref No is used to enter a reference number for the adjustment, and can be automatically or manually entered depending on the switch set-up.
9. Enter the Quantity of the ingredient being adjusted.
10. The Value will be based on the estimated cost of the adjustment. The Value will be adjusted to actual cost when Global Post is run.
11. Enter the Ingredient Expiration Date, if applicable.
12. Close and save the transaction.
13. The adjustment transactions will be posted at Global Post.