Warehouse product Acquired Date and Entered Date

When you save a new Product Warehouse Product Setup record, an entered date is added to the record. This date stamp is used as a start date in various functions. For example, the date is included on the Product Warehouse Product Master List Report.

For many inventory-related reports, it is more accurate to use the start date to reflect the date that you can begin to sell the product. When you add a new product to your inventory, it may take time to receive the product from the vendor or implement a marketing plan. The Acquired Date differentiates between the entered date and the starting date for when the product is available for sale.

The Acquired Date is automatically set by the system when the product is first received as inventory. It is also updated automatically if a product is received into the system as a return, unavailable product, or stock adjustment. If the Acquired Date is not specified, it is updated by these receiving functions:

  • Purchase Receipt of Inventory Entry
  • Transfer Receipt of Inventory Entry
  • KP Work Order Center Entry
  • Product Quantity Adjustment Entry
  • VA Receipt of Inventory Entry

If exceptions occur, you can manually change the Acquired Date to override any receipt date if Yes is selected in the Allow Access to Acquired Date field in SA Operator Setup-Controls-System. Manually adjust the Acquired Date in the Frozen section of Product Warehouse Product Setup-Ordering. The Entered Date is also displayed. You can also change the Acquired Date in the Product Exception Center Administration. You can use the Mass Update and Manual Product List functions, or click Maintain Warehouse Producton the Exception Processing Center Detail window to access the product warehouse record. The product warehouse record can also be accessed from the Line Items view in Purchase Demand Center Entry.

The Acquired Date is used in these functions:

  • In Product Exception Center Administration, the Acquired Date can be used in the Date range in the Manual Product List to limit the specific list of products being built for the product list.
  • The Acquired Date can initially be set in Product Adjust Non-stock/Direct Order Entry when converting nonstock inventory into stock.
  • If the Acquired Date is specified, the Product Surplus Stock Report uses this date instead of the entered date when calculating whether surplus exists for the product.
  • If the Acquired Date is not specified in Product Warehouse Product Setup, there should be no inventory on hand to be considered surplus. The product is not included in surplus reporting.
  • The Product Administration Inventory Classification and Rank Report uses the Acquired Date as the product’s start date to determine if a product is new and whether a product should be ranked, based on how it is defined in Product Replenishment Setup-Ranking. If the Acquired Date in Product Warehouse Product Setup is not specified, and No is specified for the Include Prods Without Acquire Date option, then the product is not ranked. Select Yes to assign a default new product rank to the product. When you select Yes, the report is longer, and may skew the Product Warehouse Product Setup Company and Whse rank, but can be useful if you filter products by warehouse rank.
  • The Product Administration Month End Processing Report uses Acquired Date to determine exceptions that are based on settings in Product Replenishment Setup, or when to unfreeze a product.
  • Product Inquiry and the Product Warehouse Product Master List Report display the Acquired Date and Entered Date.
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