About
Shipments and Receipts work together to track inventory from the moment it leaves your vendor until it's available in your warehouse.
Shipments track inventory while it's in transit and capture the costs of moving it, such as freight, duties, and customs fees.
Receipts record what actually arrived at your warehouse.
Keeping these stages separate allows Finaloop to accurately calculate inventory costs, detect discrepancies, and keep your inventory and financial statements up to date automatically.
Shipments, receipts, and transfers can either be created manually or automatically synced from supported Amazon, 3PL, and WMS integrations when automatic inbound shipments is enabled.
Go to Inventory → Supply Chain → Shipments.
1. How Shipments and Receipts work together
Inventory typically moves through the following workflow:
After inventory is received, it's available for sales, assembly, or transfer to another warehouse.
Each stage serves a different purpose.
Stage | Purpose |
Purchase Order | Records what you ordered from your vendor. |
Shipment | Tracks inventory while it's being transported and captures shipping-related costs. |
Receipt | Confirms what actually arrived and makes inventory available for sale, assembly, or transfer. |
How a Receipt is created depends on whether automatic inbound shipments is enabled:
For warehouses where it is enabled: Shipments and their corresponding Receipts are automatically synced from your connected Amazon, 3PL, or WMS integration.
For warehouses where it is not enabled: When you mark a Shipment as received, Finaloop automatically creates the corresponding Receipt.
2. The Shipments page
The Shipments page tracks inventory while it's moving from your vendor to your warehouse.
It also captures transportation costs that become part of each item's landed cost.
From this page you can track all your shipments including those manually added and those auto-synced from connected integrations.
Open any shipment to:
Edit
Link one or more PO Shipment groups
Reconcile automatically synced Shipments by linking them to a PO
Record freight, duties, customs, and logistics costs
Link shipment payments
Mark manually created shipments as received
Download or email shipment notification
How Shipments connect to the Supply Chain
Shipments are linked to PO Shipment Groups, which represent the items from a Purchase Order that are being shipped together.
For each PO Shipment Group, you can:
Link it to an existing Shipment
Create a new Shipment
This flexibility allows you to model real-world purchasing scenarios:
A single Purchase Order can be fulfilled across multiple Shipments.
A single Shipment can contain items from multiple Purchase Orders.
Any changes you make from the Purchase Order automatically appear on the Shipments page.
You can also create a new Shipment from the Shipments page and link it to PO shipment groups from there. When a Shipment is marked as Received, Finaloop automatically:
Creates a Receipt
Updates the related Purchase Order status
Moves inventory to the next stage of the Supply Chain
For warehouses where automatic inbound shipments is enabled:
Shipments and their corresponding Receipts are automatically synced from your connected integration.
You don't need to manually mark synced Shipments as received, but in order to ensure these items have the right costs connected to them, you will need to link them to the corresponding PO Shipment Group or create the PO if it doesn't yet exist.
To learn more about how the Supply Chain stages work together, see Managing your Supply Chain in Finaloop.
To create a Shipment manually
To create a shipment manually:
Go to Inventory → Supply Chain → Shipments.
Click +Shipment.
Add the shipping details including origin location, destination warehouse, shipment and expected arrival dates, add carrier and external ID (optional), Supporting documents (optional).
If the relevant warehouse is not in the dropdown list, you can add a new warehouse. Go to Inventory settings>Warehouses>+Add warehouse.
Click +Add PO Shipment group and select from the list.
If no PO shipment group exists for this shipment, go to the relevant PO>+Add group. Under Shipment groups>Link to Shipment to select from the shipment list. Alternatively, click +Add shipment to create a new shipment and link it to the PO shipment group.
Tip: You can also create a new shipment directly from a PO when creating a new PO shipment group.
Record Shipment costs
Shipment costs are expenses directly related to transporting inventory, such as freight, duties, customs, insurance, and vendor fees.
These costs must be added to each Shipment whether it was created manually or auto-synced from an integrated 3PL or WMS. Once added, these costs become part of each item's landed cost and are automatically allocated across the inventory in the Shipment.
To add any costs related to this shipment:
In the Shipment, click +Allocated cost> +Add cost type and vendor.
From the dropdown, select the cost type and the vendor name and click Save.
Add the amount of the costs and they will automatically be allocated to each unit included in the shipment.
Link a payment to a Shipment
Shipment-related costs create a balance owed to that vendor. You can link payments to those costs to track what has been paid and what is still outstanding.
To link a payment:
In the Shipment, in the Shipment payable summary, click on the relevant vendor.
A separate tab will open with the Vendor balances. You’ll see a whole list of all payables with this vendor as well as any payments. Check the box on the relevant Shipment cost.
Click +Link item. On the new screen that opens, click +Add bills/payments.
Select the relevant payment transaction and click Save.
If this payment relates to multiple POs, shipments, etc., click + Add purchase orders/stock transfers/assemblies/shipments.
Enter the amount of the payment to allocate as well as the amount of balance that is paid by this payment.
Click Save.
Edit a Shipment
Manually-added Shipments
To edit a Shipment:
Go to Inventory → Supply Chain → Shipments.
Select the shipment you want to edit.
Make any desired changes.
Click Save.
Auto-synced Shipments
The information synced from the warehouse is displayed on the shipment. You can edit it and add additional information.
Mark a manually-added Shipment as received
What happens when you mark a Shipment as Received?
Marking a Shipment as Received is one of the most important steps in the Supply Chain workflow.
It automatically:
Creates a Receipt
Makes the inventory available in the destination warehouse
Moves inventory from Inventory in Transit to Inventory
Updates related Purchase Orders
To mark a Shipment as received:
Go to Inventory → Supply Chain → Shipments.
Enter the shipment you want to mark as received.
Click Mark as received button.
The destination warehouse will be auto-populated from the Shipment information. Add the Received date as well as any notes or attachments.
In the Shipments section of the Receipt, the units received will be automatically populated with the units shipped number. If this is correct, click Save.
If you received more or less units than was shipped, change the received number. The status will automatically show as Flagged for review.
Once you review, under Action, select Close from the dropdown list.
Click Save.
If you marked a shipment as received by accident, you can easily undo this by entering the Shipment and in the Receipt section, click Unlink. You can also delete a Receipt from the Receipts page.
Note: This step applies to manually-added Shipments. If automatic inbound shipments is enabled for a warehouse, Receipt data is automatically synced from your connected integration and you don't need to manually mark synced Shipments as received.
3. The Receipts page
The Receipts tab records what actually arrives at your warehouse.
Receipts can be created in two ways:
For warehouses without automatic inbound shipments enabled: When a Shipment is marked as Received, Finaloop automatically creates a Receipt.
For warehouses with automatic inbound shipments enabled: Receipts are automatically synced from your connected Amazon, 3PL, or WMS integration based on the inventory received.
This is also the point at which inventory becomes available for sale, transfer, or assemblies.
From this page you can:
Review received inventory
Compare shipped and received quantities
Record quantity differences
Review and resolve discrepancies
How Receipts connect to the Supply Chain
Receipts are created automatically from Shipments and don't need to be created manually.
When inventory is received , Finaloop automatically:
Creates a Receipt
Moves inventory into available stock in the warehouse on the date of the Receipt
Records the quantities actually received
Flags differences between shipped and received quantities for review
Updates the status of the related Purchase Order and Shipment
Quantity discrepancies
In some cases, the quantity received doesn't match the quantity that was shipped.
For example:
A shipment contains 100 units, but only 98 arrive.
Some items are damaged during transit.
A supplier ships a few extra units.
If you receive a different quantity than you ordered, Finaloop automatically updates your financials:
If you receive fewer units than ordered: The value of the missing units is recorded as Inventory Lost on your Profit & Loss statement.
If you receive more units than ordered: Finaloop recalculates the cost per unit while keeping the Purchase Order's total value the same. This ensures the PO remains aligned with the vendor balance.
Note: If the vendor has changed the order and the total amount you owe is different from the original Purchase Order, edit the Purchase Order to reflect the updated quantity or cost. This keeps your vendor balance and financial records accurate.
Finaloop automatically flags the discrepancy so you can review and resolve it before closing the Receipt. To review, just select Close from the drop down list for each relevant line item.
Note: The review status of each Receipt will show in the main Receipts page so you can come back and review any receipts marked “Flagged for review” at a later time.
Because Purchase Orders, Shipments, and Receipts are tracked separately, Finaloop can identify these differences automatically while keeping your inventory and financial statements accurate.
Linking an auto-synced Shipment
If you enabled the automatic inbound shipment for a warehouse, Shipments will initially appear as Unreconciled because the Shipment isn’t yet linked to the corresponding Purchase Order, therefore, its costs are not known.
To link a Shipment to the PO:
Open the synced Shipment.
Link the Shipment to the corresponding PO Shipment Group(s).
If the PO doesn't exist in InventoryIQ yet, click +Create new PO to create it directly from the Shipment.
Once the Shipment is linked to the PO, InventoryIQ can assign the appropriate inventory costs to the units in the Shipment.
4. FAQs
What's the difference between a Shipment and a Receipt?
What's the difference between a Shipment and a Receipt?
A Shipment tracks inventory while it's moving from your vendor to your warehouse and captures transportation-related costs, such as freight and duties.
A Receipt records what actually arrived at your warehouse, confirms received quantities, and makes the inventory available for sale, transfer, or manufacturing.
Why are Shipments and Receipts separate?
Why are Shipments and Receipts separate?
Inventory doesn't always arrive exactly as it was shipped. Vendors may split deliveries, items may be damaged or missing, and shipment costs often aren't finalized until goods are in transit.
By tracking Shipments and Receipts separately, Finaloop can accurately calculate landed costs, identify discrepancies, and keep your inventory and financial statements up to date.
When does inventory become available?
When does inventory become available?
Inventory becomes available after the Shipment has been marked as Received (automatically from the warehouse data or manually by you) and the Receipt has been created.
Until inventory is received, it remains in Inventory in Process or Inventory in Transit, depending on its stage in the supply chain and won’t be included in inventory on-hand in your warehouse.
What happens if the received quantity doesn't match the shipped quantity?
What happens if the received quantity doesn't match the shipped quantity?
If the quantity received differs from the quantity shipped, Finaloop automatically flags the discrepancy for review.
You can then investigate and resolve the difference while maintaining accurate inventory records and financial statements.
Can one Shipment contain multiple Purchase Orders?
Can one Shipment contain multiple Purchase Orders?
Yes. A single Shipment can include inventory from one or more Purchase Orders.
This allows you to consolidate freight and logistics costs while accurately allocating those costs across all of the inventory in the shipment.
Can one Purchase Order be fulfilled across multiple Shipments?
Can one Purchase Order be fulfilled across multiple Shipments?
Yes. This is common when a vendor ships part of an order before the remaining inventory is ready.
Each Shipment can be linked back to the same Purchase Order, allowing Finaloop to track inventory and costs as they move through the supply chain.
When is landed cost finalized?
When is landed cost finalized?
Landed costs accumulate throughout the procurement process.
Purchase Orders contribute unit costs, discounts, and PO-level landed costs.
Shipments and transfers contribute freight, duties, customs, and other transportation costs.
If the amount of units received is more or less than shipped, this can also impact the landed cost.
Assembly costs can also contribute to the final landed costs of a unit.
Can I edit a Shipment after it's been received?
Can I edit a Shipment after it's been received?
Yes. As long as the accounting period is still open, you can update Shipments and Receipts. Finaloop automatically recalculates inventory values and landed costs based on your changes.
Can I create a Receipt without a Shipment?
Can I create a Receipt without a Shipment?
No, every Receipt is associated with a Shipment. For manually-added Shipments, receipts are created automatically when a Shipment is marked as Received.
If automatic inbound shipments is enabled, the Shipment and its corresponding Receipt are auto-synced from your connected integration.
What does and Unreconciled Shipment mean?
What does and Unreconciled Shipment mean?
An auto-synced Shipment is marked as Unreconciled until it's linked to the corresponding PO Shipment Group. Reconciling the Shipment allows InventoryIQ to assign the appropriate inventory costs. If the PO doesn't exist yet, you can create it directly from the Shipment.
Do I need to mark automatically synced Shipments as received?
Do I need to mark automatically synced Shipments as received?
No. When automatic inbound shipments is enabled for a warehouse, Receipt data is automatically synced from the connected integration, so you don't need to manually mark synced Shipments as received.
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