Stock fields
Code
Is the unique identifier for a stock item. It must be in capital letters and cannot be duplicated and must have more than 5 characters.
- The Code must be upper case.
- The Code must be at least 4 characters and less than 20 characters.
- The Code cannot contain a space char.
- The first character must be a letter or a number.
- The Code cannot contain a $ char.
- The Code cannot contain a tab char.
- The third charactor must not be a '/' char.
Description
A description of the product that will appear on invoices.
Pack size
A description of the packing size of the product for example:
- 6x500g
- per Meter
Group
A 10 character group code. Group codes collect together multiple products in to groups.
Price list code
A 10 character group code. Price list codes collect together multiple products in to groups and create an independent grouping to the Group field above
Supplier
The default supplier for this item
Suppliers code
The suppliers code that will be ordered when ordering this product form the default supplier.
Comment
Some internal comments for this product. The content of this field is not used my the system.
Stock on hand
The current stock on hand for this item. This is stock that is available for sales and not reserved for sales see Checkout or on stock on Returns notes
Stock on order
A count of the number of items on purchase orders . There may be two number separated by a slash, this indicates <total on order> / <total dispatched>
Stock on backorder
A count of the number of items on backorder, see backorders .
Stock minimum
The threshold for the minimum stock level. At this point the stock is running low and need to be reordered. A stock minimum of zero means “we do not hold stock of this item”.
Stock maximum
The maximum quantity to keep in stock at any given time. This value is only a guide and not an absolute limit. It could be the maximum size of the storage allocated for this item or the a safe amount of stock to keep without risk of over stocking.
Projected cost
An arbitrary cost price, ideally the project cost of the item at the next purchase.
Current cost
The cost price when this item was last purchased.
Last cost
The cost price of this item two purchases ago.
Previous cost
The cost price of this item three purchases ago.
Average cost
A rolling average cost as calculated by the software.
Average cost is calculated by linking it with the stock value.
average cost * stock on hand = stock value
Basic example
| Stock on hand | Stock value | Average cost |
|---|---|---|
| 10 | £25.00 | £2.50 |
| We purchase 10 more items at £2.00 each (the value of the new stock is £20.00). The new Stock value is £45.00 and the new stock on hand is 20. | ||
| 20 | £45.00 | £2.25 |
Example with sales
| Stock on hand | Stock value | Average cost |
|---|---|---|
| 10 | £25.00 | £2.50 |
| We sell 4 items to a customer, the stock value is reduced by 4 x £2.50 = £10 | ||
| 6 | £15.00 | £2.50 |
| We purchase 10 more items at £2.00 each (the value of the new stock is £20.00). The new Stock value is £35.00 and the new stock on hand is 16. | ||
| 16 | £35.00 | £2.18 |
| We sell 6 items to a customer, stock value is reduced by 6 x £2.18 = £10.90 | ||
| 10 | £21.80 | £2.18 |
When stock on hand goes negative
| Stock on hand | Stock value | Average cost |
|---|---|---|
| 5 | £25.00 | £2.50 |
| We sell 6 items to a customer | ||
| -1 | -£2.50 | £2.50 |
| We purchase 10 more items at £2.00 each (the value of the new stock is £20.00). The new Stock value is £18.00 and the new stock on hand is 9. | ||
| 9 | £18.00 | £2.00 |
In the case where the stock on hand is negative, the new average cost becomes the current cost. The negative value is ignored.
Gross Weight
The gross weight of the product including any packing.
Net Weight
The net weight of the product contents.
CBM Quantity
The number of items that can be fit in to 1 cubic meter.
Stock check date
The last time this item was stock checked. If and only if there was a stock adjustment made at the time of the stock take, there will be an adjustment entry in the stock adjust log. When a stock take shows that the stock on hand is correct, a log entry will not be created.