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Stock (Inventory) Groups

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Go to: Stock Items > Stock Groups

Watch the video: Creating Stock Groups - Tutorial

Hover the mouse over the different fields on the form. If the cursor changes to a hand (Hand_Cursor) , click to get more information.

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Stock (Inventory) Groups

Stock Groups allow you to organize your inventory into logical categories based on similar characteristics, such as product type, function, or department.

 

Key Functions of Stock Groups:

•Each stock item is assigned to a Stock Group.

•Stock Groups determine:

•Markup percentages

•Line discounts

•Turnover reporting by group

 

•When an item is sold, the Stock Group defines the following General Ledger posting accounts:

•Sales Account

•Cost of Sales Account

•Stock Account

•Stock Adjustment Account

 

Setup Instructions:

1.Go to Stock Groups in the system.

2.Create a new Stock Group for each inventory category.

3.Assign the appropriate GL accounts:

•Cost Account

•Sales Account

•Stock Account

•Stock Adjustment Account

 

4. When adding or editing a stock item, assign it to the relevant Stock Group.

 

❖Tip: Accurate setup of Stock Groups ensures that sales, costs, and stock movement are correctly posted and reported.

Hover the mouse over the different fields on the form. If the cursor changes to a hand (Hand_Cursor) , click to get more information.

Bulk ChangeWebTransferNo Default Item ImageSafety %No Cover ImageMonthsAutomatic Maximum DiscountMaximum Line DiscountMarkupPrintAdd new main groupStock_Groups

 

Stock Group Fields - Detail Tab

Minimum / Maximum Markup

If "Use Group Pricing" is selected in the Main Stock Form > Cost and Selling tab, the Minimum and Maximum markup percentage will be retrieved from Stock Groups

 

Key Points:

•Set the markup percentage for both the main stock group and any subgroups.

•In Invoice Options, you can allow items to be sold below the minimum markup if needed.

•See also: Pricing Options settings.

•Under Job Card Extra is a setting "Allow Below Minimum Markup".

•This rule also applies to Quotes, Invoices, and Sales Orders

 

Stock account

You can override the general ledger Stock Account in the Goods Received Note (GRN). To enable this feature, follow these steps:

1) Go to GRN Security Setup and select the 'Allow GL Stock Override'.

2) Go to the Stock Options form. Select the 'Per Line Stock GL Account' and/or the 'Per Line stock GL Account - NSI only'.

 

Once these settings are enabled, you can find the Stock GL Account column in the GRN to make the necessary changes.

 

 

 

http://bit.ly/SiStockGroups

 

 

 

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