FIACCT 08-02_04 Inventory – Inventory Control – Stock Issue Confirmation (CI) Process

Effective: March 16, 1998
Revised: June 1, 2009
Reviewed: June 1, 2009

Purpose

This policy describes the Inventory Control policies and procedures for retrieving and processing the Issue Confirmation (CI) transaction.

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Background

TThe CI transaction confirms that a quantity of items have actually been issued to the customer. An Issue
Confirmation (CI) transaction is generated automatically from a Stock Requisition (SRQ) transaction during the Pick and Issue (PI) process. The CI transaction reverses the pre-encumbrance established by the SRQ or TRQ transactions and also records an expenditure for the consumer and a revenue for the seller. The balance sheet for the inventory is decreased and a cost of goods sold charge is made. The consumer may enter their own CI transactions if they do not want the CI to be scheduled the next day.

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Policy

Each warehouse reconciles their own CI Transactions.

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Procedures