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Inventory Item

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Overview- Product information.

Sell as vs Purchase as Descriptions- Sell as description is the description your customer will see on an invoice and references the unit measure in the inventory section of the dialog. The purchase as description is designed to low you to enter a different description for your purchase order. This description is what your orders to your supplier will be based on. If you do not enter information for purchase as, the system will use your sell description for purchase orders.

About Yields- Sales yield allows you to enter the quantity of sell as units that you get out of a single purchased item. Your cost per yield is simply your wholesale price divided by your sales yield.

Lot Number Tracking- At any time you can highlight an item on the item list and by pressing control+c you can make a copy of the item minus expiration, lot number, sell as sku and inventory level information. This allows you to easily create duplicate items for tracking by individual lot number and expiration. Please note items with lot numbers are not visible in the product selection when creating a new purchase order.

Barcode Scanning- There are two SKU fields. You may use the manufacturer's sku for purchase information and create your own internal sku to create unique barcode labels for item you wish to track by lot number. One suggested use would be to create a sku that incorporates the lot number and the expiration information, so you could tell what it is at a glance. Barcode scanning then becomes an easy way to move products throughout your organization.

Accounts- The account fields allow you to specify accounts for tracking financial information as it relates to your inventory. A specified Income account is credited when the item is paid for on an invoice. A Cost of Goods Sold account is increased when a purchase is made for this item (bill paid). The Asset account is credited when this item is added to inventory.

List of fields and their functions:

Status- Changing to inactive removes item from lookup/selection dialogs throughout the system.

Added By- Computer generated-Shows who created the record.

Created- Computer generated - shows when the record was created.

Update- Computer generated - shows when record was last altered.

Source Section

Category- Categorize your items in your defined categories. Right click on the combo box arrow to open the category list for editing.

Auto Describe- Checking this box automatically populates the Sell as description field with the Manufacturer and SKU. In this case it would be Fort Dodge 5w0110177.

Expires- Check the box and select a date. and the application will alert you when the date arrives. You can also generate reports and lists of expiring items.

Manufacturer- Selects the manufacturer of this item. Right click on the combo box arrow to open the list for editing.

Lot #- Enter lot number if you wish to track by individual lot number. Please see Lot number tracking in the overview section of this page.

Supplier- Selects the supplier of this item. Right click on the combo box arrow to open the list for editing. When creating a purchase order, selecting this item first will automatically place this vendor in the purchase from field.

Site- Select your default receiving site. This is where your items are automatically placed when you receive them through the receive items process. If no selection is made they are left as unallocated. See Sites for a description on using site receiving.

Sell as Section Description- Sell as description is the description your customer will see on an invoice and references the unit measure in the inventory section of the dialog.

SKU- This is intended for use with a barcode scanner. You can create your own barcode labels to represent the lot number and/or expiration info about an item.

Retail Price- Enter the price for which you sell this item.

Net Profit- This is computed by subtracting the unit cost, or cost per yield, from the retail price.

Taxable- Select whether or not this item is taxable when you sell it. Tax rate is set in the Company resources section of the program.

MSRP- Enter a manufacturer's list price for reference.

Income Account- The Income account is credited when the item is paid for on an invoice. See Accounts on this page for additional information.

Purchase As Section

Description- The purchase as description is designed to allow you to enter a different description for your purchase order than what you would put on your invoice. See Descriptions in the overview on this page for details.

SKU- This is intended for use with a barcode scanner. Enter the manufacturer's sku for purchase information. When you scan an item the system will find the item in the look up menus.

Wholesale- Enter the price you pay your supplier for the item as described in you purchase description.

Purchase Quantity- Automatically populates a purchase order with this number as the order quantity.

Taxable- Select whether or not this item is taxable when you purchase it. Tax rate is set in the Company resources section of the program.

Sales Yield- Enter the quantity of sellable units you get out of a single purchase unit. As an example, here there are 10 doses from a 10 dose tank so the yield is 10.

Cost per Yield- Your cost per yield is simply your wholesale price divided by your sales yield.

Cost of Goods Sold Account- Cost of goods sold account is increased when a purchase is made for this item (bill paid).

Inventory Section

In Stock- Shows your total on hand quantity in all your sites.

Reorder Level- Set a value here and the system will tell you that you are running low when you get to the specified level.

Unit Measure- Enter the unit measure that you use for the sale of this item.

Back Ordered- Quantity on back order.

On Order- Reflects how many you have on order from your vendor through the purchase order system.

Asset Account- The asset account is credited when this item is added to inventory.

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