Transfer Ownership to Company

Explanation

This activity is the transfer of externally-owned stock, either supplier-loaned or customer-owned, to company-owned stock, i.e., a receipt in place. When you have come to an agreement with a supplier or customer to purchase parts that are theirs but stored in your inventory, this activity transfers the ownership in inventory and creates a purchase order for the transferred parts.

Note: If the Allow Multiple Owners per Inventory Part per Location check box in Site/Extended Site Info/Inventory/General tab is selected, the entire quantity of the part need not be transferred.

Prerequisites

System Effects

If the purchase part has not previously been registered, this is done automatically.

If the purchase part has not previously been connected to the supplier, the connection will be made automatically.

A purchase order is created for the selected parts. The purchase order and its lines (one line per part number and condition code) are in status Closed and the lines are identified as received in place. 

The ownership type of the transferred parts in inventory and in Part Serial becomes Company Owned. In addition, the persistent ownership is changed for all components belonging to the structures of serial- or lot-tracked parts that are transferred.

Postings are created with the debit posting type M1, Inventory, and the credit posting type M10, Receipt with Purchase Order.

Window

Inventory Part In Stock

Related Window Descriptions

Inventory Part in Stock
Transfer Ownership to Company

Procedure

  1. Query for the appropriate inventory parts in stock.
  2. Right-click on one or several lines that you want to transfer, point to Ownership Transfer, and then click Transfer Ownership between Customers. The Transfer Ownership between Customers dialog box opens.
  3. Verify that the price, discount, and additional cost amount are correct. You can enter or modify these fields in the dialog box, in which case these values will be used on the purchase order.
  4. Click OK.

Note: In the dialog box, you can use the Remove button to remove any lines that you have selected by mistake.