Create a New Stock Item in Detail

Overview  

The following video explains how to create a new stock item. There are step-by-step instructions below the video.


Steps 

  1. Click on the blue button at the top of the screen
  2. Select New Stock Item.
  3. Click Yes I do in the popup.
  4. You will then need to configure the new stock item:
    1. General section:
      1. Stock Code, this is required and is the stock items reference code.
      2. Description, this is required and is the short description of the stock item that can be seen in the grids in the system for example sales orders.
      3. Stock Type, this is required and defines the Level 2 stock type, which is used by the system to categorise stock.
    2. You should also consider entering data into the following fields:
    3. Accounting section:
      1. Base Tax Rate sets the tax rate for the item and allows the system to calculate the appropriate VAT for sales and purchases of the item.
      2. Sales Nominal will allow you to map your sales to individual stock items.
      3. Stock Value which is used to calculate cost of sales (COS). If you are using Average Price or Last Price Paid calculation methods, then you don't need to enter a value here as the system will do it.
      4. OvHds are the additional costs of purchasing the stock item. This will be taken into account when working out margins.
    4. Pricing section
      1. Buy Price is the amount the item costs to purchase from the supplier.
      2. Sell Price the amount the item is sold for if there are no discounts, also known as the RRP.
      3. Sale Limit is a discount limit and if a sales operative tries to sell an item for more than the specified amount, a warning will be given.
    5. Dimensions section
      1. H (height), W (width) and D (depth) are options and will be used to calculate the volume.
      2. Avg. Weight is the average weight per individual item which is used to calculate shipping costs.
    6. Picking / Availability section
      1. Location will appear on picking tickets so the pickers know where to find the stock items.
      2. Availability is a note that will appear in the Reordering Report.
      3. Launch Date and Launch Time are used to warn the user if they try to sell this item before this date or time.
    7. Reorder section
      1. Safe Level is used for reordering purposes and and the stock item will appear on the Reordering Report if the quantities are less than this value. 
      2. Min Level like the Safe Level is used for reordering purposes but indicates that the stock item is urgently required. The stock item will appear on the Reordering Report if the quantities are less than this value.
      3. Reorder(q) is the quantity of the stock item that will appear on new purchase orders by default.
      4. Min Reorder(q) is the minimum quantity of the item that can be ordered from your supplier.
      5. Reorder Multiple allows you to purchase in multiples but sell individually, for example a tray of 24 cans of drink are bought but sold individually.
      6. Lead Time(d) the time it takes for stock to be delivered form the supplier.

  1. The Options tab contains various options, for example marking an item as Stock Controlled, drop-ship or Run to Zero.
  2. The Bar Codes tab allows you to setup bar codes for your stock items. You need to have setup Bar Code Types in System Data beforehand.
  3. Once the stock item has been bought and sold then the individual sales and purchase orders can be seen in the Sales and Purchases tab.
  4. The Suppliers tab is where you can add the suppliers who you can purchase the item from. You can add the price that they cost per supplier, any discounts and the lead time for each supplier. You must mark the supplier you prefer to purchase the item from as the preferred supplier, even if there is only one listed.
  5. The Movements tab is where you can see any stock movements either in or out of the system.
  6. The Relationships tab is where you define whether an item is a Pack (Move With) or a Build stock item.
  7. The Telesales / Internet tab is where you can add a long description, web teaser and comments about a product.
  8. The Images tab allows you to upload one or more images of the product. These can be displayed on pick sheets.
  9. Clicking on Save Stock Item will save the new product.







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