Stock Items (SKUs)
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If you keep any level of inventory you need joined-up visibility of both perspectives to manage your stock accurately and efficiently.
SKUs are represented as Stock Items in the system. These Stock items are joined-up models of the physical and accounting perspectives of an SKU. This is the optimal strategy for:
100% accurate stock tracking
a high degree of process automation
To create a new Stock Item go to Products/Services > Items and click 'Create New' from the Item List.
Only available if you are using the WMS.
You can use the warehouse management system (WMS) to model SKUs as instances. For example, Instances with a quantity of 1 can be tracked by serial number, and instances with a quantity greater than 1 can be tracked as Lots. Instances can store detail about themselves, i.e. Location, Purchased from, Sold to, Warranty, Service history, etc.
Because instances enable you to create a real-world representation of a physical SKU, you can track stock to the level of granularity you require to achieve the best possible optimization of your inventory management.
A stock 'Instance' represents the physical SKU at a particular location in your warehouse.
An Instance has a 'quantity' which allows it to represent either a single Item (quantity = 1) or multiple Items (quantity > 1) of the same type at a location. For example an Item with a serial number.
If the quantity is greater than 1 then all Items are 'identical'. For example, 32 cans of soup, all at the same location, all received from the same PO can be represented as an Instance with quantity 32. For example, a Lot. If we remove an Item from its respective Lot it becomes an instance but retains the Lot number of the original Lot.
If however, each iPad had a unique serial number this would have to be represented by 32 distinct instances with quantity 1 (each having the respective serial number assigned).
The system (including the WMS) enables you to model and track the quantitative relationships between Stock Units and their counterparts, Purchase Units and Sales Units.
Stock Item>Stock Tab>Units of Measure
Configure the relationship between:
Stock Units - enter a description to be displayed on the Document Line Item table that describes to viewers the name of the quantitative unit. For example, Each, Case, Pack, etc.
Purchase Units - enter the number of Purchase units that constitute a single unit of the Item. This can be a fraction, for example, 0.3, or an integer, i.e. 12.
Sales Units - enter the number of Sales units that constitute a single unit of the Item. This can be a fraction, for example, 0.3, or an integer, i.e. 12.
The system automatically calculates the results of transactions. For example:
Stock in units of 1, Purchase in units of 5, Sell in units of 2 would mean the configuration would be
Stock Units = Each
Purchase Units = 0.2
Sales Units = 0.5
The system’s accounting functions enable you to track the costs, sales, and value of your stock assets. The system uses the average cost method to track the cost of goods.
The system automatically keeps track of all stock ‘adjustments’ so it can dynamically calculate the stock's value. When you purchase stock, the system increases the stock value. When you sell the stock, the system automatically recalculates the value based on the unit costs.
See ‘Accounting’
You can adapt instances to fit exactly with the business needs and go further to increase the detail and value of your insight into SKU lifecycles.
You can add custom fields and functionality to Item masters to store more data and do more with it.
You can create and assign Categories i.e. Brand, Style, Genre, Product Line, etc, and Attributes i.e. dimension, color, capacity, volume, etc to Items.
You can track the entire physical journey of every instance of stock from intake to being received by a Customer.
The Stock manager tracks the Item’s journey through the Document workflows i.e. Purchase Order > Item Receipt > Purchase Invoice, > Sales Order > Shipment > Sales Invoice > Delivery note, and even transfer between Customers. See ‘Using the Stock Manager’
The WMS (warehouse management system) tracks the physical journey i.e. Goods In > Location > Pick > Pack > Staging > Skid/Pallet.
You can track the quantity, status, and availability, i.e. Allocated, On Hand, Free, Quarantine, Reserved, on Back Order, on Purchase Order, etc.
From the Lot List, you can view which Purchase Orders the Lots were received from and drill down on each Lot to view which Sales Orders the Items from the Lot were sold on, and therefore which customers Lots were sold to. You can also track Lot activity on RMAs.
You can assign multiple preferred Suppliers to an Item, together with their respective minimum order quantity, lead times, and last cost.
Retire
The Item will no longer appear in the lookups. Unchecks the Active box
Show WMS Stock
Show SKU qty and location
Find>On Sales Orders (Allocated)
List Documents with this Item
Find>On Sales Orders (Not Allocated)
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Find>On Purchase Orders (Not Received)
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Find>On Purchase Orders (Not Billed)
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Actions>New Stock Adjustment
Actions>New Stock Transfer
See Stock Transfers
Use Ctrl-F and the field name to locate and review the field and description
Sales / Prices: Key Information
Item Code
A unique alphanumeric identifier
Sales Description
Matrix Parent
Select an Item (see ‘is Matrix’)
Barcode
For barcode readers. i.e. Item part # or UPC code. This will be printed on Order, pick, pack and ship documents.
Serial Number
Don’t use, check out the Warehouse Management System (WMS)
Item is Active
Is available for use on a new Document
Item is Sold
Is available for use on a Sales Document
Is Matrix
Check and save to make this ‘Matrix master
Commodity Code
Google commodity code for your respective country
Lot Number
not in use
Pricing Details
Unit Price
The base selling price
Sales Units
The sales unit of measure i.e. ‘each’ - see ‘Unit of Measure relationships’
Item Tax
The Item is taxable
Foreign Price
The default price commensurate with the customer’s default currency. I.e. if your base currency is USD and your customer pays you in CAD, then this is a fixed price for this Item in CAD.
Sales / Prices: Selling Information
Free text area
If you enter information here, and ‘i’ will appear on the Line Item when you add this Item to a Sales Document. Links and text allowed
Related website
I.e. a product page on your website
Cross/upsell information
Free text arearee
If you enter information here, and ‘i’ will appear on the Line Item when you add this Item to a Sales Document. Links and text allowed
Sales / Prices: Size and Weight
Dimension Units
i.e inches, centimetres etc
Height
Width
Length
Weight Units
i.e lbs, kg, etc
Weight
Volume Units
i.e. lb/ft³ etc
Volume
Sales / Prices: Shipping Information
Item is drop shipped
Not in use
Pack separately
Info only
Weigh before shipping
Info only
Number of units per box
Info only
Shipping instructions
Info only
Purchasing/Costs: Key Information
Item is Purchased
Item can be used on Purchase Documents
Default Order Type
Standard, Drop Shipped or Special Order?
Purchasing/Costs: Costing details
Unit Cost
The latest purchase cost as manually entered by you.
Purchase Units
See ‘Units of Measure’
Item Tax
Tax code relating to Item or Item Tax option id. (USA only) taxable or not
Foreign Cost
The default price commensurate with the Supplier’s default currency. i.e. if your base currency is USD and your Supplier invoices you in CAD, then this is a fixed price for this Item in CAD.
Purchasing/Costs: Preferred Suppliers
The information in the list is used by these automations:
On Sales Order, Create Dropship Purchase Order, Create Special Order.
On Purchase Order Generator, ‘by Item’ and ‘by Order.’
Supplier
Supplier name from Supplier List
Item Code
The Supplier’s SKU / Item code.
Description
Unit Cost
The latest cost you manually added here
Stock
The current stock level for this Item
Minimum Order Quantity
Used for information and by the Purchase Order generator.
Average Lead Time (days)
Use on Docs
Available for use on Purchase Orders
Default
The default used by the automations, e.g. Purchase Order Generators
Purchasing/Costs: Purchasing Information
Free text area
If you enter information here, and ‘i’ will appear on the Line Item when you add this Item to a Purchasing Document. Links and text allowed
Related Website
i.e the Supplier's product page
Purchasing/Costs: Reorder Levels/Site MOQ
Site
Re-Order Level
For the corresponding site - Used by the Purchase Order Generator by Item
Minimum Order Quantity
For the corresponding site - Used by the Purchase Order Generator by Item / Order
Purchasing/Costs: Size and Weight
Dimension Units
i.e inches, centimeters etc
Height
Width
Length
Weight Units
i.e lbs, kg etc
Weight
Volume Units
i.e. lb/ft³ etc
Volume
Purchasing/Costs: Delivery Information
Free text area
Text and Links allowed.
Stock: Current status and availability
On Hand
The total quantity you currently have in your warehouse, regardless of whether it is available for use or sale. It includes unallocated as well as allocated stock. You can allocate stock for: Assembly or disassembly.
Initial Valuation
The opening balance in the Stock Asset account for this Item. Only visible on the initial creation of the Item when the WMS is not installed.
On Sales Orders (Allocated)
The quantity of this Item allocated to Sales Orders.
Free Stock
Available for allocation i.e. on hand stock minus allocated stock
On WMS Kits
The quantity of Items assigned to Kits. Appears when WMS is installed.
Quarantined
Quantity of Items in stock, but not available for allocation or assignment. Appears when WMS is installed.
Average Cost
The average value of a stock over an accounting period.
On Sales Orders (Not Allocated)
This value does not affect Free or On hand stock values. It's just a pre-allocation value.
Shortfall
The qty required to fulfill open orders.
On Purchase Orders
The qty of this Item on Purchase Orders with a Document Status of ‘Open’ or Partially Received.
Stock: Stock Status by site
Site by site view of the current status and availability of this Item.
Stock: Units of measure relationships
See ‘Units of Measure’
Stock Units
i.e. Each, Case etc
1 Purchase Unit =
i.e. 10
I Sales Unit =
i.e 1
Permit fractional Stock Units (WMSI)
Express the above as floating point numbers e.g. 1.30
Stock: Multi-packs
See ‘Multipacks’ . Appears when WMS is installed
Multipack name (WMSI)
Enter a descriptive name i.e. Six pack. Appears when WMS is installed
Barcode (WMSI)
The barcode for the ‘six pack’. Appears when WMS is installed
Stock Units (WMSI)
The quantity of SKUs in the pack e.g. 6. Appears when WMS is installed
Stock: Stock take information
Location
Info only
Last Stock Take
Info only
Units counted
Info only
Stock Locations by Site
Classifications: Categories
Category
A top-level key i.e. Manufacturer
Classifications: Attributes
Name
I.e. the product color
Value
I.e. red, amber, green
Auto description
Used by Matrix Items
Classifications: Class
Item Class
Classification for the item when it is put on the Line item, and used in the general ledger.
Images
Image 1 thro 4
A placeholder for an uploaded image. Image size: email support@salesorder.com. Images appear in the TAP.
Accounting
Income
where the income is posted on the general ledger (profit & loss)
Cost Of Goods Sold (COGS)
where the cost is posted on the general ledger (profit & loss)
Stock Asset
Where the asset value is posted on general ledger (balance sheet)
Ecommerce
Customer Portal
Available in Portal Cart
Will display this Item in the TAP (Trade Acceleration Portal)
Shopping Cart Information
Cart Mapping
The cart it’s used on
Utility Fields
Price Impact
Contact support.
See
