Inventory Menu

The Inventory features give you the tools you need to manage the location and the and pricing of the items in your inventory. This includes applying changes to pricing, printing bin tags and price labels, performing a physical count of inventory, adjusting quantities and costs, and moving stock from location to location (transfers).

Price Updates

This activity is used to manipulate pricing in a number of different ways. This includes permanent price changes as well as temporary changes such as sale pricing.

Physical Counts

Most businesses perform a full physical inventory at least once a year and cycle counts on a regular basis to keep their inventory accurate. This can help identify issues related to shrinkage, correct receiving/sale errors, and make inventory valuation for tax purposes more accurate. Physical counts is an activity used to update the database with the counted quantities of items. There are 2 utility programs (from the Utilities, Updates tool along the top of the application window) that are used with this function ("post physical counts" and "clear physical counts").

Adjustments

The Adjustments activity is used for correcting on-hand quantities for non-sale movement of stock. There are four types of adjustments that can be done: quantity adjustment, cutting, transfers in, and in-store use.

Cost Corrections

Cost corrections are necessary if an item has been sold with an incorrect cost due to incorrectly entered costs or late receiving goods after they have been sold. Use this screen to correct cost of sales totals in a number of areas related to the sale of an item.

Transfers

In some circumstances, it may make sense or be necessary to move stock from one location to another. This activity is used to reduce inventory in one location and increase it in another.

Vendor Update

Use this activity when you need to update your primary vendor record.

Special Topics

This section provides additional topics related to Inventory that may be useful to you. These topics include: 

Physical Inventory Procedures

Removing "Dead Items" from Inventory