GuidesInventory
A guide to stock: items, units, batches and locations
How the stock parts fit together, and how to set them up so your reports stay clear.
· 1 min read · Hexabooks
Good stock records start with good setup. This guide explains how the parts fit together.
Items and groups
Every item belongs to a group, and groups can sit inside groups. Give each item a code, choose the unit you buy in and the unit you sell in, and set its tax scheme. An item can be switched off without deleting it.
Units and conversions
Set up your units and how they convert, such as a carton of ten boxes and a box of twelve pieces. You say it once, and every voucher uses it, so you can buy in cartons and sell in pieces.
Batches and expiry
For items with a date on them, add batches with a manufacturing date, an expiry date, and a cost and selling rate for each batch. Opening stock is entered by item, batch and location.
Variants
For items that come in more than one form, define attributes such as size and colour, and add variants under the item. A unique variant gives a single piece its own record.
Locations and transfers
Set up your stores and shelves as a tree of locations. Move stock between them with an inventory transfer, which is approved before it counts.
How stock is valued
You choose the method: average, normal average, last cost price, FIFO or LIFO. The default is average. Read the inventory summary for opening, in, out and closing for each item.
Keep reading
- Getting started
· 1 min read
Getting started with Hexabooks
What happens after you book a demo, and the order in which most businesses set things up.
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