Stock Items (SKUs)
Joined up, real-world model
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
Creating a new Stock Item
To create a new Stock Item go to Products/Services > Items and click 'Create New' from the Item List.
Stock Instance tracking
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).
Units of Measure (UOM)
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
Accounting
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’
Customizable Instances and Item Masters
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.
Categories and Attributes
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.
Location
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.
Status and availability
You can track the quantity, status, and availability, i.e. Allocated, On Hand, Free, Quarantine, Reserved, on Back Order, on Purchase Order, etc.
Lot Tracking
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.
Preferred Supplier
You can assign multiple preferred Suppliers to an Item, together with their respective minimum order quantity, lead times, and last cost.
Actions
| Action | Description |
|---|---|
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) | “ |
Find>On Purchase Orders (Not Received) | “ |
Find>On Purchase Orders (Not Billed) | “ |
Actions>New Stock Adjustment | See Stock Adjustment |
Actions>New Stock Transfer | See Stock Transfers |
Stock Item Fields
Use Ctrl-F and the field name to locate and review the field and description
| Tab / Section / Field | Definition |
|---|---|
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. |
Actions
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