Create New Item
Go to Inventory > Item, click New
Enter the Item Code and Item Name
If the item's inventory level needs to be tracked, check the Track Quantity checkbox.
- For items with low value or purchase amount is not significant, Track Quantity is usually not required. The cost of purchase of these low value items will be reflected immeidate after purchase
- For items with higher value and purchase amount is significant, with Track Quantity the system will reflect its cost on a per use basis. At the end of the financial year, the remaining quantity's value will be reflected as Asset instead of Cost, and thus higher profit.
- With Track Quantity doing stock-take is required usually for financial audit to make sure the quantity and value is correct
Item Type and Progress Tracking
Select the Type of the item
- User can only select Product or Service Type, other types are for system only
- Product Type should be choosed if user need to specify Quantity when buying or selling, so
- Track Quantiy > Product Type: system will track Inventory Quantity Level, user need to specify quantity in transactions
- Not Track Quantity > Product Type: user need to specify quantity in transactions, but system will not track Inventory Quantity Level. This is usually called a non-inventory item.
- System will track transaction Progress of Product Type item based on Quantity. For example, when converting a Quotation with a line of 10 Box of Product A, to an Order with a line of 5 Box of Product A, the Progress is 50%. Similarly for Order to Invoice and Invoice to Delivery.
- Service Type should be choosed if user do not need to specify Quantity when buying or selling. Quantity will always be shown as 1 in transactions.
- System will still track transaction Progress of Service Type items. Progress tracking will be based on Amount instead of Quantity.
- For example. When converting an Order with a line of Service A selling at $100, to an Invoice with a line of Service A at $500 (say partial delivery of service or phase 1 completion of service), the Progress will be 50%
Unit of Measurement for Track Quantity Items
For each Inventory Item, user need to specify
- Inventory UOM (Unit of Measurement)
- Default Sales UOM
- Default Purchase UOM
The UOM will be used to count inventory level. When entering sales, purchase or inventory transactions, user must choose a UOM that can be converted to the Inventory UOM when using this Item. The Inventory UOM once saved cannot be changed.
Enter the Item Description, which will be copied to the transaction line when preparing transactions. For Track Quantity items.
Like Cards and Transactions, Item also provide Custom Fields. These fields are useful for tracking many types of additioanl information of an item.
The Item Custom List Fields are also available for doing Analysis, user can categorize items using these list fields, and group them in Sales, Purchase and Item Analysis.
For example, use list 1 to categorize item country of origin, so in sales or purchase analysis, user can trace purchase amount by the country of origin.
User can select pre-defined Message Content or directly enter content in item's record. The Word like editor allow user to enter text with format, and insert pictures
- Check the Use in Sales checkbox if this content should be copied to sales transaction lines
- Check the Use in Purchase checkbox if this content should be copied to purchase transaction lines
- Do not embed large size high resolution pictures into Message Content, which will slow the system down significantly
Transaction with line item product with message content and the corresponding use in, with Print Report that enabled content: