Planning inventory codes

Inventory ››
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Inventory items are created and maintained for all goods and services, trading inventory, etc. The inventory item code file allows you to select a inventory code when processing sales documents (i.e. Invoices, Point-of-Sale Invoices, Credit notes and Estimates) and purchase documents (i.e. Purchases, Supplier returns and Orders).

It is recommended that you carefully plan the structure of your Inventory codes, before you start to create and edit your Inventory items. A logical structure based on your needs and layout of your stores, etc., will definitely help you to manage your inventory control easily.

The inventory codes, if carefully planned, will make it easier to process documents (selecting Inventory items on the Inventory lookup) and in the case of Point-of-Sale Invoices (selecting Inventory items selecting Inventory items on the POS lookup). This will also give structure to any Inventory reports, Sales analysis reports and Purchase analysis reports when the sequence Inventory code is selected.

TurboCASH allows you to use the following options to optimize control and management of Inventory items:

Inventory item type – You may create up to eleven (11) inventory types. Default is the standard Inventory item type. This is the inventory item type which needs to be selected for Trading inventory (inventory items purchased for selling).

Inventory code – Use up to 15 alpha-numerical characters. You may also change the Inventory code when you edit existing Inventory items.

The inventory code may consist of up to 15 digits.

See - Documents setup:

If you wish to print inventory codes on documents, you may select the following:

Inventory codes - (less than 10 characters) and description (less than 25 characters), you may select the C10- series of documents.

Inventory codes – Up to the maximum inventory code length (15 characters) and description (up to 35 characters), you may select the C15- series of documents.

Reporting groups - Create Inventory Reporting groups as necessary for Inventory group 1 and Inventory group 2. Each Inventory item may be linked to a specific Inventory group in Inventory group 1 and / or Inventory group 2.

Sub-accounts - You may create Sub-accounts for Sales, Cost of sales and Inventory control accounts and link each Inventory item to a Sub-account.

Inventory can be categorized into groups by the prefix of the code. The Sales, Cost of sales and Inventory accounts can also be split into sub-accounts per inventory category. Each inventory item can then be linked to the appropriate Sales, Cost of sales and Inventory sub-account for its particular category. Each inventory item can also be linked to different tax types catering for varied VAT/GST/Sales Tax rates.

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