Stock Management

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Nate Smith
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Stock Management

The Stock Management System has been designed to manage inventory of stock items, allowing orders of stock to be placed, recording actual deliveries, shipping stock items via the invoice screen and produce accurate stock counts.

Before continuing please ensure that you have at least 1 item configured as stock in your items section.

Terminology

Stock Ledger:
A screen where you can manage stock accounts and close stock accounts at the end of a stock period.
Stock Accounts:
A container of Stock Items for a specified company and region. Think of it as a digital “stock room” where you hold your stock.
Tally:
A choice of stock count methods.
Transferred In:
Total quantity of stock transferred into the stock account.
Transferred Out:
Total quantity of stock transferred out of a stock account.
Customer Returns:
Stock items returned by a customer, returns are completed via the Invoice Screen.
Customer Deliveries:
Stock items that have been invoiced and shipped to a customer.
Destroyed:
Stock items that have been written off.
Stock Level:
The current quantity of stock items you hold.
Pending Deliveries:
Stock items that have not yet been shipped to a customer.
Supplier Deliveries:
Stock items delivered by your supplier.
Supplier on Order:
Stock items ordered with a supplier but not yet received.
Supplier Returns:
Stock items that have been returned to a supplier.
Ship Stock:
An action button on the invoice screen that marks stock items as dispatched.
Unshipped Orders:
A report of invoices and their stock items that have not been marked as shipped.
Return Stock:
An action completed on the invoice screen when a customer returns a stock item.
Closing a stock account:
A stock account should be closed at the end of a period, once closed no further transactions may be made to that stock account. A stock account can only be closed when the stock balance is equal to zero.

Create a Stock Account

  1. In the Financial Menu, select ‘Stock Ledger’
  2. Scroll down and click on the ‘Add New Stock Account’ button.
  3. Select the Company and the Region of the stock account and click 'Create Account' - you can now create orders.
  4. The stock level is currently zero, so click ‘View’ and on the new page click 'Adjust Stock'.
  5. Choose the appropriate Adjustment Type (Transfer, Supplier Order..). We’ll assume we have no stock to transfer so select ‘Supplier Order’. Search for the stock item you wish to order, enter date, quantity and the supplier account you are making the purchase from, add a comment and then save.
  6. We now have a quantity of pending items on order, click on the pending link and confirm as a 'Supplier Delivery' on the Adjustment field - then click Save. We now have items in stock and are able to ship our items.

Ship Stock

  1. Open the Supplier Account, go to the Financial tab and click on 'New Sales Invoice' to create an Invoice.
  2. Add the Items to the invoice - note the Stock Status ‘Pending Allocation to Shipment’.
  3. Check your Unshipped Orders Report in the Financial Menu. You will see a row containing the items you have sold but not yet shipped. This report is a useful reminder to ship items that were previously out of stock.
    1. Return to your invoice and in the Actions section select ‘Ship Stock’, select the quantity you wish to ship and the delivery method, then Create Shipment(s).
  4. We can now return to the stock account to ensure the balance has been adjusted, we can tick ‘Include Sales / Credits’ to show the transaction we just completed.

Return Stock

  1. It may be the case that a customer wishes to return an order, we can manage this from the Sales Invoice Screen. On the item row click on the link for ‘Shipped..’, select how the customer has returned the items and ‘Create Return(s)’.
  2. We can return to the Stock Account again to check that the stock has been returned and the stock balance has been updated.

Adjust Stock

  1. Should you need to edit the balance of the stock account please select the appropriate adjustment type from the drop down, and use the definitions provided to select the appropriate adjustment type.
  2. At the end of your trading period you may want to close down the stock account, to do so you must ensure the balance of that stock account is zero. Either create a transfer of stock to another stock account to achieve this or return the stock to supplier.

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