Inventory
Policy
FIACCT 08-01_04 Inventory – Inventory Control – Stock Transfer Receipt (TR) Process
Effective: March 16, 1998
Revised: June 1, 2009
Reviewed: June 1, 2009
Background
This policy describes the Inventory control policies and procedures for performing the Stock Transfer Receipt (TR) process.
Policy
Each warehouse reconciles the TR transaction to the Transfer Issue (TI) transaction and resolves any discrepancies. If the whole transfer was received, the consumer enters who the goods were received by and the date. If all quantities were not received, the consumer enters each item line number and the actual quantity received.
Procedures
Responsibility
Action
Consumer
1. Sign and receive a copy of the TI for items received.
2. Transport items to the receiving warehouse.
3. Verify the quantities physically received against the recorded quantities reflected under the current issue column of the Transfer and Issue.
4. Note any discrepancies.
Issuing Warehouse
5. Process the TI transaction (refer to the FIACCT 08-01.03–Stock Transfer Issue (TI) Process policy section of this manual.)
Consumer
6. Enter the TR transaction ID number. This TR transaction ID must be the same as the TI transaction ID number. Refer to the copy of the TI transaction printout for the number.
7. Input quantities on the TR transaction screen.
a. If all of the items listed on the TR transaction were received, enter the name of the person the goods were received by, the date, and the quantity received for each line.
b. If all items were not received, enter each item line number and the actual quantities.
8. Resolve any discrepancies with the issuing warehouse.
Consumer
9. File the Transfer Issue copy as it is completed.