Inventory Item — Edit

The Inventory Item Edit form in Manager.io allows you to create a new inventory item or modify an existing one. This guide will walk you through each field in the form and explain how to use them effectively.

Item Code

Optional

Enter the inventory item code if you have one. This code can help you quickly identify items in your inventory.

Item Name

Type the name of the inventory item. This is the primary identifier and will appear on all related documents such as quotes, orders, and invoices.

Unit Name

Specify the unit name for the inventory item. The unit name will appear on quotes, orders, and invoices if entered. For example, instead of just "5," your invoice can display "5 kg" to indicate kilograms.

Division

If using divisional accounting

Select the Division responsible for this inventory item. This helps in organizing your inventory based on different segments or branches of your business.

Control Account

If using custom control accounts

Choose your specific custom inventory control account. If you haven't set up a custom account, the default control account is Inventory on hand.

Reorder Point

Enter the Reorder Point for this item. The Inventory Items tab includes a Qty to Order column, which Manager.io calculates using the value you provide here. This feature helps you identify which inventory items need to be reordered to meet their designated levels.

Custom Fields

You can add more details about this inventory item by creating custom fields tailored to your specific business needs. For more information, see the Custom Fields guide.

Setting Up Inventory Items with Starting Balances

Before setting up your inventory items, it's recommended to set up your customers and suppliers first because they may have starting balances based on unpaid invoices.

Procedure to Establish Starting Balances:

Suppliers

• Enter any unpaid purchase invoices for your suppliers.
• This action automatically adjusts the Qty Owned for the inventory items purchased on these invoices.

Customers

• Enter any unpaid sales invoices for your customers.
• This action automatically adjusts the Qty Owned for the inventory items sold on these invoices.

Adjusting for Historical Purchases:

• After entering unpaid invoices, use a journal entry to adjust the Qty Owned for inventory items.
• This accounts for historical purchases not entered into the system (e.g., already paid invoices or other transaction types).

Tracking Qty to Deliver and Qty to Receive

If you are tracking the Qty to Deliver and Qty to Receive columns, you can also establish starting balances for these quantities.

Qty to Deliver

• Represents quantities ordered by customers but not yet delivered.
• To establish starting balance: Create sales orders under the Sales Orders tab for orders that haven't been fully delivered.

Qty to Receive

• Represents quantities ordered from suppliers but not yet received.
• To establish starting balance: Create purchase orders under the Purchase Orders tab for orders that haven't been fully received.

By following these steps, you ensure that your inventory balances are accurately reflected, including adjustments for unpaid invoices and historical purchases.