Inventory Items

Inventory Items

To record the inventory items click the maintain button and go to inventory items:

Click the inventory items and the following window will appear:

Inventory means raw material and/or finished goods that you have in your stock.

In the above window write the item I.D (specific code given to the item), Description (name of the item).

Select the Class Item according to the nature of your company. If you are manufacturing or trading company then select the Assembly as shown below:

Inventory items have followig tabs but in case of stock item three tabs will be available.

In General Tab select the description either it is for sale or for purchase

Price Level means the methods of pricing levels.

Last Unit Cost means the cost on which last unit is purchased.

In Cost Method select the methods such as FIFO LIFO Weighted Average.

UPC is the Universal Price Control.

Item Type refers the nature of item either it is perishable, non perishable and etc.

Unit/measure means that the unit is measured in kilograms, liters or yards.

Weight: mention the weight of the item.

At the right side three accounts are shown as:

Write the codes in each specific account to record the information.

Minimum Stock shows the lowest quantity you have for a specific item.

Reorder Quantity always remain higher then the minimum stock.

After putting all the information in this window click the Beginning Balances given at the right bottom of the window as shown below:

When you click on it the following window will appear:

Here select the Item ID of every item and then put the Quantity, Per Unit Cost and the Total Cost. You can see the Total Beginning Balance at the bottom of the window. After that click the OK button to Save the data.