How do I add items to my inventory?

How do I add items to my inventory?

1. To add a new item to the Inventory, you first need to be in the Inventory tab under Invoices.

 

2. Then click the [Add Item] button on the far right – hand side. The New Inventory Item window will appear.

Depending on which version of Cashflow Manager you have, different options may appear. Therefore, some of the following descriptions will only be relevant if you have Cashflow Manager GOLD or if you have selected the Sell/Buy option.

Setting up an Inventory item



1. Under Options, select whether the item is one that you Sell Only (including physical and service items), one that you Buy Only, or one that you both sell and buy (Sell/Buy).

2.  Select the Category that applies to the particular item (refer to Maintain & Assign Categories).

3. Set your Sell Details:

Sell Details are only active if Sell Only or Sell/Buy item types are selected.

  1. Type in a unique Sell Code for the product. (If you type in a code that already exists you will receive a message asking you for a new code when you click on [Save].)
  2. Record the Sell Description (up to 250 characters) that you want to generally appear on your invoices in the Sell Description box.
  3. Select the Sell Tax Code to allocate the correct GST to the product. Note that the Description, Sell Tax Code and Sell Price can be changed for individual invoices where the standard option does not apply.
  4. Record the Sell Price.
  5. If you use GST Exclusive Prices, the Sell Price would be excluding GST. If you have selected to use GST Inclusive Calculations, then record the GST Inclusive Sell Price.
  6. If you are using different Customer Types, record the Sell Price for each Customer Type. 

Note: There is no need to record a price for a ‘Service Item’ that will form part of a composite list of items with one overall price at the end of the list.

4. Add the Buy Details

  1. If you have selected Buy/Sell, as you record your ‘Sell’ information the Buy Code, Buy Description and Buy Tax Code duplicate what has been entered. Change these as required. For example, the Buy Code should match the Item Number of your main supplier.
  2. Record the current Buy Price.
  3. Record the Supplier Code. This is not mandatory as sometimes the same item may be purchased from more than one supplier. However, selecting the Supplier Code will match the Buy Code to a Supplier to make it easier when you are creating Purchase Orders and recording invoices from suppliers.

5. Set Quantities:

  1. Quantities only apply if you want to track inventory levels for an item. For such items the opening quantity and value needs to be recorded for accurate reporting.
  2. To track inventory levels on an item, click on the [Track Inventory?] checkbox.
  3. Click on the [Opening Inventory] button.
  4. Record the Initial Value Date. This is the date from which you are commencing track inventory. See ‘Inventory Tracking’ for more details.
  5. Record the Initial Quantity on hand for this item.
  6. Record either the Average Cost per Item or the Total Value of Opening Inventory. (The alternate field will calculate for you.)
  7.  Click [Close].
  1. Record the Reorder Level for this item if you have one.
  2. Record the standard Reorder Quantity for this item.

6. Click on [Save] to save and exit or [Save & New] to save this item and add another.


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