Creating a stock item

Summary

The following article explains how to create a part number and enter all the recommended information for that item.

Additional Information

Select "Stock Control" -> "Add or Edit Stock Items".

• This will take you to a search screen. Press <F6> or click the [New] button.

The main fields and settings for creating a new part number are contained on these 6 tabbed pages. You may move around these pages by pressing <Up Arrow> and <PageDown> or by clicking on a page heading. Within the pages you may use <Enter> or your arrow keys to move between fields while <Tab/Shift+Tab> will move your cursor within a line, e.g. to edit part of a description line.

Details Tab

Descriptions

• Enter your part number and press <Enter>

When creating your part numbers, it is important to have a written procedure laid down for designing part numbers that everyone follows so that there is consistency and structure. Avoid spaces, slashes, dashes and odd characters in part numbers.

• Enter the description of the item. There are three lines available to describe the item.

Try to keep all the significant information on the top line of description since this is the one that appears on all searches and will be the main line for reporting purposes. The small tick boxes next to each line denote whether that line will be printed on external documentation such as invoices or delivery notes. This is useful if there is description you need on the stock code for searching or reporting purposes but do not want the customer to see.

Pricing

• Click twice on the "Retail Price" and enter your recommended retail price excluding V.A.T. You can enter the price including V.A.T. and press <F2> to deduct the V.A.T. In most circumstances, it makes sense to run all your prices exclusive of V.A.T., particularly if you have manufacturers price files on your system.
• At the "Cost Price", enter your Cost Price.

When you create the part number, you can enter your own cost price here. Once you book the part number into stock, this price will generally reflect the cost price of the oldest item in stock, and you will not be able to edit it directly here. To alter the cost price, the items would have to be taken back out of stock and then booked in again at the correct price.

• Press <Enter> to move through the "Units" field. This represents the Unit of Sale and not how many you have in stock. Under most circumstances, you should leave this blank. If you deal in fasteners or other small items sold in large quantities, for which the price each is below 1p, then and only then might it be suitable to enter anything here.

Notes

• You may enter up to 5 lines of notes about an item. If you need to add more notes press <Ctrl+F8>.

Groups/Analysis Tab

Grouping

• Enter the Group this item falls into.

Usually this would be 'PAR' – Parts, 'ACC' – Accessories or 'CLO' – Clothing but you may have a different structure to this. Various reports can be produced based on this group field, e.g. Reorder Reports or Stock Takes so it is handy to put similar items into a group.

• To choose from a list of groups, press <Ctrl+F1> then <Enter>. Highlight the appropriate group then click on [Choose] or press <F2>.
• To create a new group enter the code to use and press <Shift+F10>. Enter a description for the group then press <Esc> and <Enter> to save it.

Analysis

The analysis codes are another way of grouping common items together. If you put a letter in Analysis 1 then put the same letter in Analysis 1 on another stock item they would have a common link, which could be reported on, e.g. you could link all Genuine items together by attaching a code to them.

• Move to the appropriate Analysis field then enter the code to use.
• To choose from a list of codes press <Ctrl+F1> then <Enter>. Highlight the appropriate code then click on [Choose] or press <F2>.
• To create a new code, enter the single character to use. Please note this field is case sensitive so you can use the alphabet twice (upper and lower case), numbers 0-9 or characters.
• Press <Shift+F10>. Enter a description for the code then press <Esc> and <Enter> to save it. The example below shows an item, which has been classed as a Genuine Part, it is a Fast Moving, Current Stock Item. All of these characteristics have been defined using the Group field and three different analysis codes.

Invoicing Tab

Defaults

• Choose the appropriate V.A.T. Rate from the list by clicking on the little box at the end of the field.
• Standard items should be Vat Rate 1 (17.5%). Vat Rate 2 is for Zero Rated items and Vat Rate 3 is for Exempt items. Make sure this field is set correctly before you leave it by pressing <Enter>.
• Enter the Cost Centre. This field defines where in the accounts system the value of a sale of this item should go. This will be a number, e.g. 100, and is commonly split into Sales of Parts, Sales of Accessories and Sales of Clothing. If you are unsure what to enter here ask your accounts department.

Saving your new part number

• When you have finished creating a new part, either press <Esc> and <Enter> to save the record or click on [Done] (which will appear on the bottom right corner of your screen) then [Accept].

This is as far as you need to go at this stage but before you save the stock code you may want to set up your reorder levels, location and supplier details. Access these options by pressing <F12>

.

• For additional help with the set-up of this refer to the articles in the see also section below

See also

Feedback

Thank you for using our Knowledge Base, we value your feedback. Did you find this article useful? 'Yes' or 'No'

Keywords AND Misspellings

Adding, Creating, Stock, Code, Part, Number