Create new Inventory

Product setup steps

  • Create categories

  • Create products

  • Configure the Bill of Material (BOM) if required

  • Onboard Products using purchasing method

ItemCode

A stock code is required for each stock item, this can be any combination of characters up to 20 characters long. The coding structure of stock items should be considered, to ensure that like stock items appear together.

Part Descriptions

A description of the stock item - can be up to 50 characters long. A description is required for each stock item. This description is used in the look up boxes provided each time the stock item is invoiced, credited or adjusted. There is also the facility to enter long descriptions for each part which show on the screens that customers could access to place orders. This field allows very long descriptions or even features and benefits to be described for the item. The intention for this field is that it could be used for producing a company catalogue or for online ordering by customers who may need more information about a product. It is only the description (short) that displays on invoices and credit notes.

Categories

These categories need to be set up first. A stock category is required for all stock items. The stock category is a text field which groups like stock items together.

Unit of Measurement

This field describes how the stock is to be maintained and is self-explanatory. It is a compulsory field.

Economic Order Quantity

This is the quantity that new orders are made or purchased in by default.

Units of Measure

This field describes how the stock is to be maintained and is self-explanatory.

Current or Obsolete

If this field is set to obsolete, this indicates that the stock item is no longer used. However, there may be a stock history on invoices and credit notes which are required. The stock item master record is therefore still required. (Deletion is not allowed while stock movements or Sales analysis records exist for the part)

Make Or Buy

This field is compulsory and indicates whether the stock item is:

Manufactured - if the item is defined as manufactured, it will require a Bill of Material to be setup to tell Costbucket how to make the product. Manufactured items converts components into a physical inventory which is then held in storage waiting for sale. It is also possible to purchase manufactured items.

Purchased from an external supplier. Since the item is purchased it cannot also be manufactured and have a bill of material.

Assembled item deduct the components from inventory at the time of sale. The inventory is maintained in Costbucket as components and the total valuation of the assembled product is the value of all components based on the bill of material configured.

A service item has no physical stock and no inventory movement. This is used as a service charge in companies that has fees setup.

Controlled

This field denotes whether the item is to have lot control on it. Lot control is known by several terms including, batch control, bundle control, roll control. In short it allows a reference for each batch of the item to be entered at the time of delivery, transfer, stock check, invoicing etc.

Serialized

Serialized is a special case of controlled where the batch size is always one. The system will prompt for the serial number of each item of stock being received and stock records will be maintained for all serial numbers separately. Controlled has to be active in settings for serialized to work.

Bar Code

This field is the unique identifying bar code for each item

Discount Category

Is used in the discount matrix of discount categories and sales types. When an order is for an item with a discount category code and a customer of a sales type that has a discount matrix entry and the order is for a quantity more than the matrix quantity break figure, the system automatically enters the discount into the order lines for all items in that discount category. This allows quantity break discounts across a range of similar products.

The discount category is a 2 character field and there is no error checking on entries.

Decimal Places

Some items of stock require a number of decimal places to be retained and displayed, others do not require any. This field is used throughout the system for invoices, orders and all places where the item quantity is displayed.