Inventory Types
Users can perform the following under Inventory Types:
-
Create inventory types
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Modify inventory types
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Deactivate inventory types
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Activate inventory types
Creating Inventory Types
Users can create a new inventory type by performing the following steps:
Click Setup ➜ Inventory ➜ Inventory Types.
Click Create New. The New Inventory Types page appears.
Refer to the following table and fill in the fields:
|
Field |
Description |
|---|---|
|
Inventory Type |
The type of inventory. |
|
Code |
The unique code for the inventory type. |
|
Division |
Select the division from the drop-down list. |
|
Inventory Account |
Select the inventory account from the drop-down list. |
|
Cost of Sales Account |
Select the cost of sales account from the drop-down list. |
|
Sales Account |
Select the sales account from the drop-down list. |
|
Tax Rate 1 |
Select the preferred option from the drop-down list that must appear for an inventory item. The selected option appears for an item while creating or modifying an item before processing a PO. The calculated tax amount is not added to the Miscellaneous Charge and the PO total. To display this option while creating in a PO for an item, the On Receipt flag must be enabled as Yes. |
|
Tax Rate 2 |
Select the preferred option from the drop-down list that must appear for an inventory item. The selected option appears for an item while creating or modifying an item before processing a PO. The calculated tax amount is not added to the Miscellaneous Charge and the PO total. |
|
On Receipt |
Select Yes or No. Taxes are applied to items only when this flag is enabled. Enabling this flag activates the Tax Rate 1 and Tax Rate 2 fields for an inventory item. |
|
Approval Level |
Selecting Yes activates the approval level for an inventory item for a purchase order. |
|
Allow BackOrder |
Select Yes or No. |
|
Price Change Allowed % |
Designating Price Changes alerts users, when prices entered at the time of receiving, are above the accepted percentage amount. Select if an item price change is acceptable at the time of receipt and, if so, the threshold as a percentage.
|
|
Check Digit Validation |
Select the Check Digit Validation from the drop-down list. |
|
Default label |
The default label for the inventory type as defined in Setup ➜ Inventory ➜ Inventory Types. |
|
Misc Text |
Optional text field. |
|
Markup Account |
Select the markup account from the drop-down list. |
|
Markup Rate |
Enter the markup rate. |
|
Exclude from Nutrients Ingredients List |
Select the required option from the drop-down list. |
|
Production Label |
Enter the production label. |
|
Is Active |
Flag that indicates whether the inventory type is active or inactive. By default, this flag appears toggled on (active) when creating an inventory type and cannot be toggled off. This flag can be toggled off to deactivate the inventory type when opened for modification. Once toggled off, the deactivated inventory type will be displayed on the Inventory Type page only if the Show Active Only flag is toggled off. |
Click Create.
Modifying Inventory Types
Users can modify existing inventory types by performing the following steps:
Click the ellipsis under Actions corresponding to the preferred inventory type.
Click Edit. The Edit Inventory Types page appears.
Modify the required details.
Click Update.
Deactivating Inventory Types
Users can deactivate existing inventory types by performing the following steps:
Click the ellipsis under Actions corresponding to the preferred inventory type.
Click Deactivate. The system prompts the user to confirm the deactivation.
Click Confirm.
Activating Inventory Types
Users can activate the deactivated inventory types by performing the following steps:
Toggle off the Show Active Only flag to view the deactivated inventory type. The deactivated inventory types appear.
Select a deactivated inventory type.
Click the ellipsis under Actions corresponding to the preferred inventory type.
Click Activate. The system prompts the user to confirm the activation.
Click Confirm.