Inventory

The inventory system is used to maintain both physical and non-physical items. A unique part number is allocated to each inventory item and is either input manually or a system number is applied. An inventory item includes all goods and services that are sold or used by the business. The inventory maintenance form allows the setup of all part number details including cost and selling price information. This form also includes supplier information, stock on hand levels for physical items, transaction history information, warehouse details and ordering information.

Physical stock is allocated when a sales order is saved and available stock on hand figures are updated immediately. Any outstanding requests for stock are placed on back order and purchase orders are usually raised to fulfill outstanding stock requirements. Goods Received Notes (GRN) or Shipment Bookins are used to record the receipt of stock.

Adjustments or movements of stock are handled via Stock Transfers, Stock Takes, and Warehouse Transfers in and out. Stock can be revalued using Update Cost Price Change forms. Manufacturing Requisitions are used to build new items from components. The Service Manager and Job Costing modules also consume stock.

Inventory classification codes link to the General Ledger and are automatically applied when the part number classification is selected.  These ledger account details are used to create General Ledger journals when any transaction impacting inventory is activated.

Permissions to the various forms and tabs used to manage the Inventory are controlled by the User Group (s) attached to each user.

• Configuration - setup thats needed before creating/importing inventory records
• Quick steps - overview of how to create new inventory items

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