Inventory

INVENTORY ITEMS

·       First we go in the maintain menu and select the inventory item option.

·        Following window will appear.

·        First we will fill the item ID and its description.

·        On the right side there is a item class present. The class in which your item falls from the following options you will select that.

·        After full filling the description and ID, then below following tab are available.

·        GENERAL:

a)     First the description is present. Either the items are for sale or are being purchased.

b)    Then different pricing levels are present.

c)     When we further click on the price level 1 following window appears. By going there we can select from different pricing levels, the one which is suitable and then we can do our calculations.

d)    Then item tax type is present. The item which is being sold or purchased, the tax type applied on it.

e)     Then below it is present the last unit cost at which that product for sold.

f)      The cost method which is being used by the company.

·        On the right side three accounts are present i.e. GL Sales a/c, GL Inventory a/c and GL cost of sales a/c. these accounts have already being made in the charts of accounts so there is no need to made them again.

·        Then below are some other options which are present such as

                                                       I.            Item type is present. If in the description we have written furniture then in item type we will write the further type of that item either it’s a chair or table etc.

                                                     II.            Location means that the items are present either in the store room or in the warehouses depending upon the nature of the product.

                                                  III.            The units in which that particular product is being measured for e.g. in kilograms meters etc.

                                                  IV.            Then the weight of the product is written in the lower area.

·        Then minimum stock is present. The minimum level of stock which is to be kept to continue our production work.

·        The reorder level shows that the level at which we need to reorder the inventory.

·        Preferred vendor ID means that the vendor from which we have bought the items.

·        Buyer ID is the ID which is being allotted by the vendor to the buyer.

·        CUSTOM FIELD:

In this you can add the additional information about the vendors, substitution and such other factors are included.

·        HISTORY:

In history the details of the inventory items is present. The old history about the items and there inventory items is recorded here and is present here. The details of previous items sold or are still present in inventory is present.