RFMS

Learn how to improve accuracy and squeeze unnecessary costs out of your purchasing process. Learn how the Order Entry Module conveys transactions to the Purchasing Module. This class provides detailed information and curriculum for implementing and operating your Purchase Order solution.

By the end of the course, attendees will have been shown how to:
• Set up the Purchase Order application
• Optimize purchasing solutions
• Generate reports and perform queries

Understanding the dynamics and impacts of the receiving and costing process regarding inventory is key to keeping your inventory in balance. Good processes at this level pay off at physical inventory time and keep variances at a minimum.

By the end of this course, attendees will have been shown how to:
• Receive inventory and process exceptions
• Cost inventory and understand the impact of exception

Inventory barcoding provides the ability to take a physical inventory with a hand held terminal, and then to transfer that inventory information to the RFMS Inventory module for reconciliation. Barcoding is convenient, more accurate, and reduces the time required for the taking of physical inventories.

By the end of this course, attendees will have been shown how to:
• Become familiar with the scanning process
• Process a physical inventory – both full and cycle count
• Drastically reduce the time it takes for physical counts
• Increases accuracy of your inventory value
• Track by bin location
• Print barcodes for your entire inventory
• Accommodate both roll and item inventory
• Upload physical count data to RFMS inventory module
• Print reports of all discrepancies
• Post roll inventory adjustments without additional data entry

 

Inventory is typically the largest asset held by a dealer. Being able to analyze that information in a multitude of instances give the RFMS dealer an edge on the competition.

By the end of this course, attendees will have been shown how to:
• Understand the relationship of multiple reports to the financial statements
• Configure and analyze the Material Analysis Report
• Print and analyze the Management Report
• Become familiar with standard reporting options

RFMS radically simplifies the physical inventory process. Many business count only at year end due to the complexity of successfully implementing a count. With RFMS, clients have cost-effectively implemented quarterly, and a few even monthly, physical inventories. Physical inventory in RFMS is the process where a business physically counts either its entire inventory or a portion of that inventory. A physical inventory may be required by banking covenants or the tax regulations to place an accurate value on the inventory Businesses may use several different tactics to minimize the disruption caused by physical inventory.

By the end of this course, attendees will have been shown how to:

•Prepare procedures to complete prior to count
•Effect good cut-off
•Investigate variances
•Complete physical inventory update through General Ledger.

Adjustment to inventory impact the not only the business cycle, but also the financial position of the company. This course will help the attendee understand the different adjustments used by RFMS and their different impacts.

By the end of this course, attendees will have been shown how to:
• Increase / decrease inventory via the adjustments
• Understand the relationship of each adjustment to the financial statements
• Print and analyze adjustments list
• Use the adjustments capacity to create remnants