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Managing Stock

This page will take you through key features of the Stocks, Stocktakes, Stock Transfers and Stock Transfer Shipments modules, and look at how you can create and manage batches for your Products.

You can also find further information about stock management in our help files for Product Batches and Serial Numbers.

 

These modules are all accessed from the Inventory grouping on the main menu.

What the Stocks module does

The Stocks module shows you the current stock level for all your Products:

  • The stock figures you see here are influenced by actions performed in other CRM modules e.g. Invoices and Purchase Orders.
  • Current stock figures will also show in different areas of the system when you are working with Products so that you can always see what stock you have available e.g. Orders, Quotes, Invoices, Work Orders and Purchase Orders.

Example of the Stocks module

 

Selling stock

  • When an item is sold using an Invoice, the stock level for the Product is decreased.
  • Until an item is invoiced, it will show in the Stocks module as Committed.
  • When selling stock, you can specify the Location being sold from.

Purchasing stock

  • When an item is purchased using a Purchase Order, the stock level for the product is increased when the Inbound Shipment is received.
  • Until an Inbound Shipment is received, it will show in the Stock module as Incoming.
  • When purchasing stock, you can specify the Location goods will be received into.

Backorders

  • When you don’t have enough stock in the system to fulfil an order, the missing quantity will automatically be categorised as being In Backorder until a new incoming shipment from a Purchase Order is received for a sufficient quantity that enables the original order to be fulfilled, or a Work Order is completed to provide the stock.
  • Items categorised as being In Backorder will show when you are creating Sales Orders and Work Orders as such.
  • Items In Backorder will also show in the Backorders module.
  • You can include items In Backorder on your invoices by enabling this function from Admin> General> Invoice Settings – just tick the Include Backorder In Invoice box.
  • You can manually place items on backorder.

Manufacturing Products

When you set up a Bill Of Materials, you specify which existing Input Products will be used to create your final Output Product. See our help pages on Setting up manufactured products, Bills of Material and Work Orders for more information.

When you generate a new Work Order and choose a Bill Of Materials to manufacture an Output Product, the system will automatically take the following steps:

  • Decrease the stock level for the chosen Input Products.
  • When the Work Order is complete, the stock level for the Output Products will be increased by the quantity that is created as a result of the order.
  • When you create a Work Order, you can specify a Location that the Output Products will be put into stock.

Stock Locations

To learn more about creating Locations, click here or managing stock locations.

The Location shown in Stocks is based on information entered when:

  • A Product is purchased: a Purchase Order is created and the Purchase For field is used to select a Location for the stock.
  • When a shipment for a Purchase Order is marked as received: the stock will automatically increase the In Stock figure at the Location that was specified.

  • A Product is manufactured: a Work Order is created, and the Location field is used to determine where the Output Products will be stored.
  • When the Work Order is completed: the stock will automatically increase the In Stock figure at the Location that was specified.

  • A Product is sold: a Sales Order is created and the Sell From field is used to select a Location for the stock.
  • When the Sales Order is invoiced: the stock will automatically decrease the In Stock figure at the Location that was specified.

You can also specify a different Sell From Location per item on the Sales Order.

Receiving stock at Locations

Stock will automatically be received at the Location that was specified when it was ordered (Purchase Order) or manufactured (Work Order) and the In Stock figure will be increased by the quantity specified on the Purchase or Work Order.

Transferring stock between Locations

You can move stock between Locations using the Stock Transfers module, which is accessed from within the Inventory group on the main menu.

When you create a new Stock Transfer, you can specify the From and To Locations.

You then create a Stock Transfer Shipment to track the movement of goods between Locations:

  • When a Stock Transfer Shipment is marked as Shipped, at the From Location, stock is reduced.
  • Stock is then held in a Transit Location.
  • When the Stock Transfer Shipment is marked as Received, at the To Location, stock is increased.

Stocktakes

Although the Stocks module will automatically update as Products are bought and sold from your CRM, you can also update your stock levels by performing a physical stocktake at any of your Locations and then update your stock levels in CRM line with your actual levels on hand by creating a new Stocktake record.

Learn how to create a Stocktake here.

Stock Adjustments

From the Stock Movements tab on a Product record, you can add Stock Adjustments.

Note that if your product is serialised or batch-tracked, you will have a tab for Serial Number Movements or Batch Number Movements on the Product record that you need to input adjustments from.

Learn how to create Stock Adjustments here.

Viewing stock movements

You can view the changes to stock from a Product record using the Stock Movements tab.

Stock Movements tab on in a Product record

 

If your product is serialised or batch-tracked, you will have a tab for Serial Number Movements or Batch Number Movements on the Product record.

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