FIACCT 08-03_00 Inventory – Inventory Control – Stock Return (SN) Process – Overview

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

Purpose

This policy outlines the procedures for performing the Stock Return (SN) Process, which includes donated items, returning regular items to stock after having been issued, and purchasing other agency internally-manufactured items into inventory stock.

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Background

Returns to Stock – Consumers are allowed to return previously issued items. The return of items is recorded in FINET using a SN transaction. (NOTE: for material which has been transferred from one warehouse to another, the most appropriate way to return this material is to coordinate it with the warehouse receiving the material and ask them to perform a Transfer Issue (TI) transaction.) Returns to stock should reference the issuing transaction, if possible.)

Internally Manufactured Items – The materials used to create the finished items may have originally been inventory stock items that were expensed to the manufacturing process, combined with labor, equipment rental and other items purchased outside of the FINET Inventory Control Subsystem, and then returned to inventory stock as a finished product with a different inventory stock item number. See FIACCT 08-03.01 – Stock Return – Internally Manufactured Items gives instructions on how to complete the process and purchase the finished products in FINET.

Donated Items – Donated items include items left by a contractor after a job/project is completed, free use materials that have marketable value, or other items given to the agency by outside entities. If the donated items have a value in excess of the materiality factor set by Finance and are determined to need inventory control, they should be accounted for on the FINET Inventory Control subsystem.

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Policy

The SN transaction is used to return stock items to inventory after stock has been issued to purchase donated items into inventory stock.