Inventory Defaults and the Company Information Window - Inventory Tab
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Prior to creating any Stock Inventory Items in Design Manager, you may wish to adjust certain Inventory defaults on the Company Information Window - Inventory Tab. To do so, select File - Company Information to display the Company Information Window. Click the Inventory Tab which is shown below.c
The Default Warehouse is used to enter a Warehouse Code from the Ship To / Warehouse Glossary. You can use the Search button to locate a Warehouse or add one to the Glossary. The Default Warehouse Code will be used throughout Design Manager where a Warehouse Code is required for an Inventory transaction but another Warehouse Code can be used if desired.
Mark-Up %: The Mark-Up Percent will be defaulted to all new Inventory Stock Items created in Design Manager and will be displayed in the Mark-Up % field on the Inventory Stock Item Window - Stock Item Tab. The Estimated Unit Cost of the Inventory Stock Item will be marked up by the Mark-Up Percent to automatically calculate the Unit Sell Price to the Client. The Mark-Up % can, of course, be overridden as desired for each individual Inventory Stock Item.
POS Discount %: The POS Discount Percent will be defaulted into the POS Discount % (POS Disc. %) field for all new Inventory Stock Items but can be overridden for each individual Inventory Stock Item. The POS Discount Percent represents the percentage to reduce the Unit Sell Price of the Stock Item when being sold through the Point of Sale system. For example, if the POS Discount Percent is set to "10" for an Inventory Stock Item, upon being sold through the Point of Sale system, the Unit Sale Price will be reduced by 10 percent.
Inventory Purchase Order (PO) Conditions: The Inventory Purchase Order Conditions will appear at the bottom of all Inventory Purchase Orders created in Design Manager. Inventory Purchase Orders will be discussed in full detail under Generating Inventory Purchase Orders later in this chapter.
Point of Sale Remarks (POS Remarks): The Point of Sale Remarks will default to the Remarks / Notes / Instructions field on the Point of Sale Invoice Window - Totals/Payments Tab but can be changed as necessary for each Point of Sale Invoice.
The Show Reference Number on Purchase Order (Show Ref. No. on PO) option determines whether or not the Stock Numbers for the Inventory Stock Items included on an Inventory Purchase Order will be displayed. Sometimes it may be desirable to not show the Stock Numbers if they may be confused by the Vendor with the Manufacturer's Catalog Number.
The checkbox "Update the Estimated Cost and Price…" controls updates to the Estimated Unit Cost and Unit Sell Price on Stock Inventory Items. If the option is selected then Design Manager will automatically update the Unit Sell Price and Estimated Unit Cost for each Stock Inventory Item when a Vendor Invoice is posted for the Stock Item. The new Estimated Unit Cost will be the Actual Cost from the new Vendor Invoice and the new Unit Sell Price will be calculated based on the new Estimated Unit Cost and the Markup % on the Inventory Stock Item - Stock Item Tab for the Stock Item. If the company Inventory is comprised primarily of unique Stock Items then this function is probably not needed. If the Inventory is comprised mostly of Stock Items that are reordered consistently then this would be a helpful feature to automatically apply cost changes from the Vendor.
Update Inventory: The Update Inventory button displays the Update Inventory Window whereby certain settings for Stock Inventory Items can be globally changed and the Unit Estimated Cost can be updated under a variety of methods. The Update Inventory Window is discussed in full under the Update Inventory Window in Additional Features.
If the optional Data Collection module has been purchased, a frame entitled Data Collection System Defaults containing additional options that control the printing of the bar code labels will be present. Bar code labels can be set to Print Labels after Project Purchase Orders (Pos) and to Print after Inventory Purchase Orders (Pos). Inventory barcodes can be optionally displayed on Purchase Orders and Delivery Tickets using the Show Bar Codes on Purchase Orders (Pos) and Show Bar Codes on Delivery Tickets, respectively. Inventory claim tickets can be set to print when creating Delivery Tickets using the Print Claim Labels for Inventory After Printing Delivery Tickets option. Finally, the Use Label Printer should be checked if a dedicated label printer is being utilized when printing Inventory labels. See the hardware requirements for the printer make and model number.
Inventory Cost and Freight
All cost changes made through Inventory, with the exception of Inventory Adjustments, update the General Ledger Inventory Account as designated in the Company Information – Other Accounts Tab. A Freight Inventory Account can also be designated on that tab. When the Freight Inventory Account is the same as the Inventory Account and is an Asset Account, freight costs are combined into the average cost of each Stock Inventory Item. When the Freight Inventory Account is set to Cost of Goods Sold then the freight costs related to Stock Inventory Items do not contribute to the cost of the Stock Items. There is no way for Design Manager to separate freight from the cost of the Stock Item when billing the Client, all costs and prices are combined for each Stock Item.