Master Records > Inventory > Create Inventory Record

The Information page allows you to set up basic information about the inventory item. If you have set up an inventory type template for this inventory item record, the system will automatically fill in default values in various fields in this page that you may amend. Refer to the discussion about Inventory Type Maintenance for more details regarding this.

To set up general information about this inventory item, perform the following steps in this page:

1.Set up the miscellaneous type of information for this inventory item record by entering or amending values in the following fields:

oCategory

Click the List box button to display all available categories for which this inventory record is created for. Select from the following available options: Item, Phantom, Service, and Other Charges.

The Category field is a one-time setup in inventory records. It cannot be changed once the item record is saved.

oItem Class

Enter in this field a code group for similar inventory items where this inventory item is assigned. For example, you may assign monitors and keyboards to one class and programs to another, or you might assign bulk items to one class and individually priced items to another.

oProduct Line

Enter in this field the product line code where this inventory item record is assigned. For example, you may classify the sound blasters and speakers under Sounds and Multi-media while scanners and printers under External Communication devices.

oABC Category

The ABC analysis technique groups inventory in 3 categories in the order of the inventory item's estimated importance. Enter in this field the inventory categorization code where this inventory item record is assigned.

oFixed Checkbox

This checkbox is enabled once a valid code is entered in the ABC Category field. Mark this checkbox to disable editing the ABC Category code assigned; otherwise, leave the checkbox unmarked.

oNext Count Date

This read-only field is system calculated based on the Last Count Date plus the Interval number of days from Cycle Count Setup for the ABC Category assigned to the inventory record.

oLast Count Date

This read-only field is system calculated based on the Cycle Count Setup for the ABC Category assigned to the inventory record.

oBarcode ID

Enter alphanumeric ID of the unique barcode in any one or both of the Barcode ID fields. These barcode IDs provide easy identification of specific inventory items and it can be the same or different with the inventory item number.

oBuyer

Enter in this field the responsible personnel assigned to procure this inventory item from your vendor.

oDefault Vendor

This read-only field shows the vendor code of the vendor for which this inventory item is procured by default.

2.In the Use in area, specify whether this inventory item is accessible from the Transactions functions of the applicable modules by marking the appropriate checkboxes:

oInvoice/Sales Order

Mark this option box if you want this inventory items to be available when creating invoices, sales orders and sales quotes through the Accounts Receivable and Sales Order modules.

oPurchase Order

Mark this option box if you want this inventory item to be available when creating purchase orders and purchase quotes using the Purchase Order module.

oWork Order

Mark this option box if you want this inventory item to be available when creating work orders using the Manufacturing module.

Notes:

•You must mark the Purchase Order checkbox if you want to assign a drop ship warehouse to this inventory item.

•If the item is set to be manufactured, you must mark the Work Order checkbox to be able to create a bill of materials for the item. To create the item's bill of materials, go to the Bill of Materials function section for more details.

3.In the Inventory Management area, define the inventory item's buffer stock, lead time, and reorder point/quantity information:

oSafety Stock

Enter in this field the quantity of safety stock in the specified warehouse. Safety stock is the excess quantity that you want to keep as buffer in case items are not received on time or in case of unusually or unanticipated large order volume.

oReorder Point

Enter in this field the stock level at which you want the inventory item to be reordered. When the stock falls to this level, the inventory item is listed on the Inventory Reorder Report to indicate that it should be reordered. If you have activated the Purchase Order module, the system uses this value as reference in adding inventory items below reorder point during creation of a purchase order by reorder quantity.

oReorder Quantity

Enter in this field the suggested quantity to order. If you have activated the Purchase Order module, the system uses the reorder quantity as the suggested quantity to reorder in the Create Purchase Order by Reorder Quantity function.

oManufacturing Lead Time

Enter in this field the number of days from the time the company determines that they need to manufacture an item up to the time the manufactured item is released.

4.Review the following settings in the Miscellaneous area:

oStatus

This read-only field shows the item's status as defined in the Settings Page.

oCreate Date

This read-only field refers to the date this inventory record is created. The default date is the current system date and it can not be amended.

oCost Method

This read-only field displays the item's cost method setting which is defined in the Settings Page.

oQuantity Decimal

This read-only field shows the item's quantity decimal value as entered in the Settings Page.

5.If applicable, mark the following checkboxes:

oSerialized Item

Mark this checkbox to require serial numbers for the units of this inventory item.

oLot Controlled Item

Mark this checkbox to require lot-production numbers for the units of this inventory item for tracking purposes. A lot number represents the specific lot from which each item comes. For example, lot numbers can be assigned to each batch of processed milk, medicine or computer chips. Lot numbers are very useful in tracking units of a production batch that need to be modified, upgraded or recalled.

oKit Item

Mark this checkbox to specify this inventory item as a kit item. Kit items are made up of component items that are stocked and sold separately under their own inventory item numbers. For example, computers, monitors and printers may be stocked and sold separately under their own inventory numbers, but it may be packaged together under another inventory number and sold as a unit.

Note: You cannot assign a drop ship warehouse for a kit inventory item (i.e., when the Kit Item checkbox is marked).

oInventory Specification

Mark this checkbox if you want to assign specifications for this inventory item. AccountMate only allows you to specify an item specification when setting up a new inventory item record.

oUpsell Inventory

Mark this checkbox if you want to assign upsell items for this inventory.

oSubstitute Inventory

Mark this checkbox if you want to assign substitute items in the event that there are no units left for this inventory.

6.You may click the Expand () button beside the Item Transaction Summary label to show a summarized transaction information that involves the inventory item record. The values in these read-only fields show up-to-date information regarding the item's transactions in the system. You may click on any of the field labels to show the details analysis of each.

Q. I'm adding a new item in Inventory Maintenance but I don't seem to be able to change the Cost Method while I'm in the Information Page. How can I change it?

A. You can change the Cost Method of a new inventory item in the Settings Page of the Inventory Maintenance function.