Accounting Inventory

  • Inventory

    The importance of Inventory control cannot be overemphasized. The ability to effectively manage your inventory is crucial to your continued business success. The software has been designed with these factors in mind and will provide you with the information to successfully manage your inventory investment.

    To maintain accuracy, the software provides for your choice of costing methods, true real time processing, and flexible pricing methods to your customers.

    The cost of each item in inventory is maintained by either average cost, true FIFO, or true LIFO. All serialized inventory is maintained on a specific cost method. This allows the flexibility required to meet your particular needs.

    Retail prices may be automatically calculated in many ways. These include: a percentage added on top of cost or based on your GSA contract price, your state contract price, or your own user defined contracts. Other methods include a percentage off list, a dollar amount on top of cost, a dollar amount off list price, or most importantly, any given price specified at the time of order entry.

    Quantity price breaks may be entered for up to 10 levels for each item. These can be set up as a dollar amount, percentage off list, and/or percentage on top of cost.

    Special automatic pricing can be set up by customer, vendor, item, or by category. Special prices may also be based on user defined price breaks by vendor, item, or category. This flexible pricing system will relieve the hassle associated with special pricing.

    Contract pricing such as GSA or state schedules may be entered for automatic retail price calculations for a particular customer.

    A Retail Price List of all items be category may be printed. The list will optionally show cost, transfer cost, gross margin, and price breaks associated with each item. Printed without cost or margin, this list is useful as price lists for your salesreps.

    Maintain a detailed movement history for each item.

    On-hand quantities in the Inventory system are continually updated from several different areas. These include sales entered from Accounts receivable, inventory received through the Purchase Order system, and inventory used through Service Dispatch, giving you true on-line processing.

    The master record for each inventory item contains a great deal of information. Item cost, list price, month-to-date sales, cost and usage, year-to-date sales, cost and usage, as well as last year's sales and usage, plus the usage for the previous 24 months stored by month. With this information readily at your fingertips, you will make sound buying decisions and gain greater control over your inventory.

    Inventory movement history is maintained for each item in the inventory system. The display will show the movement by month for the last 24 months. This information will help in determining order cycles and quantities.

    Detailed receipts are available allowing you to view each time an inventory item is received with the purchase order number, vendor, and cost.

    A detailed usage can be viewed showing the date, invoice number, customer, quantity, and price for each sale. If the item was used in a service call, the job number and technician are also displayed.

    Virtually unlimited inventory setup capabilities, methods of item inquiry, and ease of maintenance.

    Maintain an almost unlimited number of product categories. An Item Master List may be printed by item, one category, or by all categories, allowing you to view a particular item or category without obtaining a complete inventory printout. General Ledger posting entries may be assigned by category to gain greater control of inventory.

    Multiple inventory locations may be maintained with one or more accounts receivable.

    Support is also available to load your vendor's item pricing information from both disk and/or modem providing efficient inventory and pricing updates.

    Create and maintain a core bank showing core and empties owed to your customers or from your vendors.

    Options for inventory can be defined by individual item or for an entire category. For example, color, material, and size can be defined.

    You may obtain access to an individual item in the system by various methods. These include the exact item number, partial item number, description, or by item category. Also, when part numbers change, a cross reference may be maintained of the new part numbers and your part numbers. Operator processing speed is increased by the versatility of the software.

    Inventory locations, whether in the warehouse, on the sales floor, or other areas, are maintained for each in verifying inventory quantities during a physical inventory. The optional Bar Code Tracking System can greatly speed up the process of Inventory Management.

    Inventory may be allocated to technicians and/or salesreps. A breakdown of allocations is displayed on the individual item record showing number on-hand, and the amounts allocated to technicians, or sales reps. The system will also display the number allocated for backorders. At a glance, you can tell where your inventory should be. If you need more detail, it's only a keystroke away.

    Full serialized inventory with complete history from purchase to retirement.

    The inventory system tracks all inventory, including serialized equipment, parts, and supplies. Serialized inventory does not require the assignment of an additional ID number, but you can assign the id number if desired.

    The serialized inventory record contains the received date, origin of the item, sold date, customer which purchased the item, invoice number the item was sold under, as well as the invoice number from the vendor when the item was purchased by you.

    A serial numbers report will sort by sold and/or received dates. The serialized inventory report will show which serialized items are sold, on-hand, rented, leased, or on demonstration to prospective customers.

    Serialized packages may be orderer from your vendor and sold as a group with full serial number tracking of each piece of the package.

    Management analysis reports include

    Several items may be combined under your own user defined part number to sell as one item. This is very important for special "deals" and promotions (i.e. start-up kits) and handles proper inventory reductions for each item comprising the "deal" and proper cost of sales accounting in the General Ledger system, even though the items may be from different item categories with different General ledger account numbers.

    The end-of-month inventory report contains a gross margin analysis for each item sold during the month.

    Yield analysis is available with the manager's console. Accurately measure and maintain toner and supply yields.

    There are many additional reports which are available to help you is other ways. You may obtain as little or as much detail as necessary. These provide you with the tools you need to better manage your inventory investment.

    Use the query library to write your own reports.