Add a Stock item
When you want to Stock an item, you have to set up a record for it. The Stock record is very similar to other records, though some of the Function icons are new or different, and the record holds up to ten Buying and up to ten Selling Prices.
Before you start:
Decide how you are going to identify your Stock. Is the Stock Code going to be meaningful, or are you going to rely on the Descriptions.
Check System Control options:
Decide on your Method of Valuation, this can be FIFO, Average Cost or Latest.
Decide whether you are going to show available Stock as Physical or as Free.
Decide how you are going to calculate Free Stock - do you want to include or exclude quantities on outstanding Purchase Orders.
To set up your Stock record:
Select Stock Control from the main Toolbar.
Select Stock Records to display a blank Stock record window with a popup list of Stock Codes.
Click on Insert either on the popup list, or if this is not displayed, on the main record window.
Enter the Stock Code. You MUST enter this, but most of the other information can be entered later.
Enter the Description, but remember that this is what will be printed on Orders and Invoices, so take care to be concise, accurate and as complete as possible.
Enter the Sell Price and Cost Price.
If you only have one each of these, just enter the details in the fields on the record, but if you have several prices, for example if you have different prices for quantity Orders, or for Wholesale Customers, you will need to use the extra pricing features, as shown below.
On the Sort Key tab card, you can enter classification information, such as Product Group, Product Type, Manufacturer etc. These can be used for selective reporting. This is done via the Info menu using the User Definable Language functionality.
If restrictions have been defined in Sort Keys tab and the Restrict Sort Key use option is set for the logged on User in their Security Profile, then the ability to enter or select the sort key values may be limited.
Click on OK to save the new record.
To add more Prices:
As the multiple price window described below, has its own Edit icon, to edit or add additional Prices, you should not be in Insert or Edit mode:
Click on Sell Price (or Cost Price) which opens a window which can hold up to ten different Prices.
Click on Edit, and you can enter or make changes to the prices.
If for example you want to make Price 2 based on a Quantity range, click on the Price Method menu, and select Quantity range. This displays two fields for you to enter the ‘from’ and ‘to’ quantities.
You do not have to enter a ‘to’ quantity, if the criteria is just more than the ‘from’ quantity.
To use quantity break Price lines, Customers must have Quantity Price in their Terms.
Click on OK to save the Prices.
Note: The other fields on this window are described in the main body of the Help.