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04-010-2 Inventory Control Training #2 - The IC General Tab

Overview

The General Tab of the Inventory Control menu contain a variety of details that determine the nature of the inventory's behavior within the system.  Understanding the design and nature of these controls is reviewed in this section.
 

Inventory Training - Training #2

In Training #2, we are going to focus on the General Tab of the Inventory file. 

Top portion of the Inventory Screen

Grid button - selecting the Grid button invokes the presentation of the available Picture Grid which is maintained within POS > File Maintenance > Grid Layout (POS).
Item ID - The Item ID has a maximum length of 20 characters and can contain alpha and numeric values.  The system automatically capitalizes the apha values.
Cln Button - Selecting the “clone” button streamlines the process of creating a like item. The initial fields copied are Item ID, Description, MSRP, Retail, Cost and On-hand.
Editing the Item ID to a unique value allows the system to continue with the creation of this Clone item.  Depending upon the circumstance, edits of the description, MSRP, Retail, and Cost would be appropriate at this time.
 
Item Description - This 70 character field should accurately describe the product
 
TA ID:  The TA ID: represents the cost of the item in a format that may nor be apparent at first sight. This allows the sales clerk to freely review the inventory screen with a customer without showing any cost information.
No Refunds - If returns are not allowed for a particular item, then check this box.
Allocated - Contains the total quantity of the item found within open Sales Orders. Left-click on Allocated to view the listing of Sales Orders that account for the Allocated quantity.
On Order - Contains the total stocking unit quantity for the current item within Open Purchase Orders. Left-click the On Order  field.  Left-click on On Order to view the listing of Purchase Orders that account for the On Order quantity.
On Hand - Represents the total quantity of an item physically present within the store.
Available - the Available is the current On-hand quantity less the Allocated quantities.  
Display Unit of Measure. This field allows the selection unit of measure from the item’s units of measure setup for the item.  For example, the default stocking unit of measure for the item may be EA1 but the system does have a PK24 (24 EA1s). The Display unit could be set to PK24 to show the number of PK24s in inventory.  The On-hand quantity will change upon selecting a different Display Unit of Measure.  Typically, the Display Unit of Measure matches that of the Stock Unit.

Inventory File - General Tab - Item Types 

The following explains the different types of items that can be configured within the system.  The next section Matrix goes even further to invade other characteristics of the select Item Types.
Stock  - items allow the system to track the on-hand qty and the average-weighted cost of an item.
Non-Stock - On-hand quantities are not not tracked within Non-Stock items. The cost of these items remains constant. A couple of examples would be labor, shipping and bulk or departmental sales.  Non-Stock items may have the Variable Cost option selected so that the system will automatically calculate the cost of goods sold based upon a percentage of the retail price. 
Rental - If the Rental Module is present, the Rental item type is utilized to manage this select portion of inventory. The Matrix field for a rental item may be serialized or non-serialized.
Coupon - There are six different types of coupons that either discount the purchase by a dollar amount or by a percentage off. 
 
Kits - A Kit describes a collection of items that will be sold at a designated price and the available number of kits is limited to the quantity of the least available item.  The kit’s retail price is only changed by the creator of the item.  Unlike an item with associated items where the system presents the list of associated items at the current retail prices.  Kits are set to fixed prices by design while Items with Associated items are dynamic in the retail price but fixed at the list of items.
Example 1: If you want to sell a Paint kit to go along with a big paint sale, you could have the paint pan, the paint roller, the paint brush and a drop cloth that make up the Paint kit. The cost of the paint kit is made up of the costs of each item and the total of available kits is based on the on hand quantity of the individual items. So, if there were 3 of each item in the kit except for the drop cloth, which only had 2 on-hand and available, then the on-hand quantity of the kit is 2.
Comment. The item that has this type is the item “_comment”
Finance. The item that is reserved for finance charges is “ _Finance_Charge” and the item type for this item is finance.
Fee Item. This is the item type of fee items that are attached to other inventory items. An example of this is the paint fees that are added in the state of California when pints, quarts and gallons of paint are sold. When a gallon of paint is rung up at the ring sale screen, the paint fee will also be added to the sale.
Gift Card. This is the item type for the item  “_Gift_Card”. This is used when selling Gift Cards.
Note: The Item Type field and the Matrix field cannot be edited if there is stock on hand for an item. If you need to change either of these fields, make sure that you change the on-hand-qty to 0 and when you are done making the changes then you want to make sure that you put the correct on-hand-qty back in.
 

Inventory File - General Tab - Matrix Field

The Matrix field further enhances the Item Type Field to further break down specific functions as explained below.
NOTE: You can go from a non-serialized item to a serialized item, but you can’t go from a serialized item to a non-serialized item. So make sure that if you choose an item to be a serialized item, that you want it to always remain as a serialized item or always tracking it by the serial number.
Moving to the right, you will see that you can track or assign physical locations in the store to different items. Typically, aisles will be assigned a location code (A, A2, B1, B2, etc.) by entering the location code in this field. Notice in the box with ellipsis (3 dots) to the right of that field gives you four more location fields. 
NOTE: For reporting purposes, only the main location field is used.
When this is unchecked, the item is no longer available to be sold and will not be able to be seen in the Ring Sale screen, the Sales Order Screen and the Purchase Order screen.

Inventory File - General Tab - Taxation and Options Area

Let’s go back up and refer to the taxable area. Notice that you have a box that can indicate if sales tax applies to the item. A check mark indicates that the current item is taxable. If the box is not checked, then that means the item is non-tax and you must choose the reason for the non-tax in the drop down in the non-tax table field to the right of the Taxable check box. The current sales tax report will provide a summary of collected tax for a specific period.
The Tax Table field further defines the tax status of the current item. The taxable and nontaxable classes are created under System, Support Files, Sales Tax Menu.
 

Inventory File - General Tab - The Gets Area

 

Inventory File - General Tab - Labeling Area

Inventory File - General Tab - Units of Measure

Inventory File - General Tab - Continued

Inventory File - General Tab - Order Quantity Area

Inventory File - General Tab - Continued

Inventory File - General Tab - Pricing Area

In this example, the current item shows 10 units on-hand at $10 per unit. The store received 5 units at $11.00 per unit. The new on-hand quantity will be 15 and the cost per unit will be $10.33.  The Weighted Average Cost is calculated by dividing the total extended cost ($155.00) by the total quantity (15) resulting in a Cost per Unit of $10.33.
 
 
 
Quantity
Cost Per Unit
Extended Cost
Beginning Inventory
10
$10.00
$100.00
Inventory Receipt
5
$11.00
$55.00
Ending Inventory
15
$10.33
$155.00
 

Inventory File - General Tab - Gross Profit % Area

Inventory File - General Tab - Continued

Inventory File - General Tab - Adjust Qty On-Hand

This is the screen to adjust or change the On-Hand Qty. The Item ID and the Description fields are already filled in. 
1. Select the type of adjustment

Inventory File - General Tab - Adjust Cost

 
Current Inventory Cost Adjustment. The left hand side of the screen allows you to change the current Average Cost, Last Cost and Commodity Cost. The right hand side of the screen allows you to adjust the Stock Costs, the Replacement Costs or the Commission Costs of Past Invoices.