| Multi-Store Overview | Create a Transfer SlipTransfer Merchandise between Stores
How do I? | Multi-Store Overview | Create a Transfer Slip
The transfer of merchandise from one store to another is recorded on a transfer slip. A transfer slip is a transactional document that deducts the transferred merchandise from the source store's item quantity and adds it to the destination store's quantity.
Headquarters can make transfer slips to move merchandise from any store to any other store. Remote stores are limited to making slips that transfer merchandise out of their store to another store.
If one store runs out of an item, they can look to see if another store has the item in stock. Typically, a follow-up phone call is made to confirm that the item is still available. At this point, the first store can either send the customer to the second store or arrange for the second store to transfer the item to them, in which case the customer can purchase it when it arrives. The second store or Headquarters would make a transfer slip to move the item.
Transfer slips are often made at Headquarters to reallocate fast or slow selling merchandise among stores. Since Headquarters has ultimate inventory control, handles purchasing, and has the ability to run company reports, they are in the ideal position to assess when merchandise transfers of this nature are beneficial.
Keep the following in mind as you work with transfer slips:
Transfers have no net effect on total inventory quantity or value; they simply move the specified quantity of an item from one store to another.
The transfer slip is the mechanism that updates Point of Sale inventory for a transfer. You might find it helpful to print and FAX or e-mail a copy of the transfer slip to the store(s) involved to assist with the physical movement of the merchandise.
The store receiving transferred merchandise should NOT record the merchandise on a receiving voucher. Transfer slips update the quantities at both stores (called the "From Store" and "To Store" on the slips, respectively). Making a voucher that lists the same merchandise would add the item quantity to the master inventory and cause errors in the company inventory valuation.
Transfer slips are saved to your Transfer History list and, if applicable, sent to QuickBooks financial software.
Transfer reports, which detail the movement of merchandise between stores are available at both Headquarters and remote stores.
Transfer slip field descriptions