Stock quantity fields give you a quick overview of your inventory items. Do you understand what each one means? Here's a brief overview of the fields:
On Hand – This is the current quantity that should be in inventory. It is updated by the entry of beginning quantities, by receivings, by invoiced sales, by credit memos, by inventory transactions, and by physical inventories. Note: Credit Memos will immediately return quantities back to the On Hand stock quantity. This happens prior to updating invoices / End of Day processes.
Committed – This is the current quantity (which is included in On Hand) that is committed to sales transactions or service orders not yet updated through End-of-Day Processing.
In Use - This is the current quantity (which is included in On Hand) that has been classified as "In Use" through Inventory Transaction Processing. This might include items being used for demonstration or samples, in use from Loan/Rental service orders in Service Management or can be increased by the Reserve process in Assemblies.
Available - This is the current quantity available for new orders. It is calculated by subtracting Committed, In Use, In Shop, and Defective from the quantity On Hand.