Inventory
Inventory module is only available in Standard and Professional licenses.
Abacre Retail Point of Sale supports 3 inventory calculation methods: Weighted Average (in Standard license only), and LIFO/FIFO (in Standard and Professional licenses).
Inventory statistics may be held for both items and modifiers.
Each item can have components. For example, Apple Tart item can have components:
- Flour,
- Apple,
- Sugar,
- Butter.
Each item can have the following options:
- Is Sale Item – it means that the item can be sold. It will be visible on Order window.
- Is Stock Item – it means that On Hand Quantity and On Hand Cost will be calculated for this item. And corresponding inventory reports may be produced for this item.
- Is Purchase Item – it means that this item may be purchased from vendor and recorded using Purchase Order, Receive Voucher and Return Voucher.
Items with components cannot be stock or purchase items.
In given example, Apple Tart should be sale item. But it’s not a stock item or a purchase item. Flour is not a sale item, but it’s a stock item and a purchase item. Finally, apple may be a sale item (if you decide to sell it) and it’s a stock and a purchase item.
In actual version items with components cannot be used as components for other items. For example, Apple Tart cannot be an component to another item.
When inventory quantities and costs are updated?
Inventory is updated upon
- Closing Sale Order,
- Closing Receive Voucher or Return Voucher,
- Physical Inventory adjustment,
- Deleting Sale Order.
Physical Inventory window maybe used to adjust inventory quantities. Usually you should print physical inventory sheet without on hand quantities. Then inventory clerk may count real (physical) inventory on stock and write it on the printed inventory sheet. After that she may come back to Physical Inventory window and record the real quantities into Phys Qty fields.
After pressing Update button the stock in the program will be updated with real quantities.
See also:
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