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In the Inventory section of the Inventory module you can setup and access all inventory items. View stock for the item, move stock between warehouses, view item purchase history, and setup ordering information for the item. You can also initiate a PO from the inventory item.
 
In the Inventory section of the Inventory module you can setup and access all inventory items. View stock for the item, move stock between warehouses, view item purchase history, and setup ordering information for the item. You can also initiate a PO from the inventory item.
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== Inventory Management ==
 
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Managing inventory takes different levels of effort depending upon the amount of inventory control you want for your company.  SME does LOTS of automation to automatically handle many of the steps and business process, however if you want complex inventory control, it will require more effort from inventory personnel.  SME will handle any of the level of inventory control you want for your business.  You can also start with simple inventory control and get more elaborate as your business needs by adding warehouses and serialized inventory tracking.
 
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Here is a list of amount of inventory management required based upon how much inventory control you want from least amount of effort to most amount:
 
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# Don't track any stock and everything is just JIT.  This requires no additional effort or management, but also you would not know how much stock you have.
 
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# Normal inventory stock management with one warehouse.  This requires someone to track inventory allocations, manage PO's and make sure allocations are made if for example you added something that doesn't exist to an order now and then do an independent PO later.
 
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# Inventory stock with multiple warehouse.  Requires the above plus making sure inventory pulled and added to correct warehouse and requires transfers between warehouses.
 
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# Serialized inventory with multiple warehouses.  Requires serial number tracking from PO receipt all the way through system
 
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# Serialized, multiple warehouse, and strict inventory control.  Requires the most management.
 
  
 
== Inventory Item Summary ==
 
== Inventory Item Summary ==
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In each inventory item you can track your stock levels and see how many parts are available for orders and how many parts are reserved on orders.<br>
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In each inventory item you can track your stock levels and see how many parts are available for orders and how many parts are reserved on orders.
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To see how SME handles inventory stock valuation see [[Inventory Valuation]]
 
  
 
Circled in the image below, you will see the inventory summary for an inventory item.
 
Circled in the image below, you will see the inventory summary for an inventory item.
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'''Reserved''' - The number of parts applied to service orders, install orders, or itemized invoices.
 
'''Reserved''' - The number of parts applied to service orders, install orders, or itemized invoices.
  
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'''Unallocated''' - The number of parts that are available to allocate to an order (parts available to request to reserve on an order) (Unallocated = Available - Allocated)
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'''Unallocated''' - The number of parts that are available to allocate to an order (parts available to request to reserve on an order)
  
 
'''Available''' - The number of parts in your warehouses that aren’t reserved. (on hand – reserved = available)
 
'''Available''' - The number of parts in your warehouses that aren’t reserved. (on hand – reserved = available)
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'''Default Location'''
 
'''Default Location'''
 
| style="width: 7.2in; border-width: medium medium 1pt; border-style: none none solid; border-color: -moz-use-text-color -moz-use-text-color black; -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; -moz-border-image: none; padding: 0in 5.4pt" width="691" valign="top" |
 
| style="width: 7.2in; border-width: medium medium 1pt; border-style: none none solid; border-color: -moz-use-text-color -moz-use-text-color black; -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; -moz-border-image: none; padding: 0in 5.4pt" width="691" valign="top" |
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Select the warehouse you are using to store this item. When receiving items on a PO, SME will add the stock to the default location.
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Select the warehouse you are using to store this item. When adding material to orders, SME will first look in the default location.
 
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| style="width: 2.45in; border-width: medium medium 1pt; border-style: none none solid; border-color: -moz-use-text-color -moz-use-text-color black; -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; -moz-border-image: none; padding: 0in 5.4pt" width="235" valign="top" |
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| style="width: 7.2in; border-width: medium medium 1pt; border-style: none none solid; border-color: -moz-use-text-color -moz-use-text-color black; -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; -moz-border-image: none; padding: 0in 5.4pt" width="691" valign="top" |
 
| style="width: 7.2in; border-width: medium medium 1pt; border-style: none none solid; border-color: -moz-use-text-color -moz-use-text-color black; -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; -moz-border-image: none; padding: 0in 5.4pt" width="691" valign="top" |
 
You can type the barcode number here
 
You can type the barcode number here
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'''Parent Item'''
 
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| style="width: 7.2in; border-width: medium medium 1pt; border-style: none none solid; border-color: -moz-use-text-color -moz-use-text-color black; -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; -moz-border-image: none; padding: 0in 5.4pt" width="691" valign="top" |
 
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To create a hierarchy of inventory items, you can select another item as the parent item. You can then search your items by parent.
 
 
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| style="width: 2.45in; border-width: medium medium 1pt; border-style: none none solid; border-color: -moz-use-text-color -moz-use-text-color black; -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; -moz-border-image: none; padding: 0in 5.4pt" width="235" valign="top" |
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| style="width: 7.2in; border-width: medium medium 1pt; border-style: none none solid; border-color: -moz-use-text-color -moz-use-text-color black; -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; -moz-border-image: none; padding: 0in 5.4pt" width="691" valign="top" |
 
| style="width: 7.2in; border-width: medium medium 1pt; border-style: none none solid; border-color: -moz-use-text-color -moz-use-text-color black; -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; -moz-border-image: none; padding: 0in 5.4pt" width="691" valign="top" |
 
Check if the item is active
 
Check if the item is active
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'''Pre-approve Purchase Orders'''
 
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If this is checked, SME will not require approval when placing the item on a purchase order.
 
 
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<span class="apple-style-span"><span>When the cost/retail is changed in the price book (depending on settings), then all records with this flag checked will also be updated.</span></span>
 
<span class="apple-style-span"><span>When the cost/retail is changed in the price book (depending on settings), then all records with this flag checked will also be updated.</span></span>
 
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'''Force JIT'''
 
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<span class="apple-style-span"><span>If you check this and this item is added to a service order, install order, or itemized invoice, SME will not try to allocate stock. The item will go to "has ordered items" automatically, even if there is stock available.</span></span>
 
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| style="width: 2.45in; border-width: medium medium 1pt; border-style: none none solid; border-color: -moz-use-text-color -moz-use-text-color black; -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; -moz-border-image: none; padding: 0in 5.4pt" width="235" valign="top" |
 
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'''Don't update cost when receiving from PO'''
 
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| style="width: 7.2in; border-width: medium medium 1pt; border-style: none none solid; border-color: -moz-use-text-color -moz-use-text-color black; -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; -moz-border-image: none; padding: 0in 5.4pt" width="691" valign="top" |
 
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<span class="apple-style-span"><span>If this is checked, when you add the item to a PO and change the cost of the item on the PO, the cost of the inventory item won't change.</span></span>
 
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| style="width: 2.45in; border: medium none; padding: 0in 5.4pt" width="235" valign="top" |
 
| style="width: 2.45in; border: medium none; padding: 0in 5.4pt" width="235" valign="top" |
 
'''Non-Inventory'''
 
'''Non-Inventory'''
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Check here if you don’t want to track inventory on this item. For example, with a bucket of screws you might not want to count every item in the bucket.
 
Check here if you don’t want to track inventory on this item. For example, with a bucket of screws you might not want to count every item in the bucket.
 
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|}
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'''Image below'''
 
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The image below show how the Name and Description fields in SME Inventory Item sync to QuickBooks Inventory Item
 
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[[File:InventoryItemFields_SyncToQB.png]]<br>
 
  
 
<h3>Ordering Information Tab</h3>
 
<h3>Ordering Information Tab</h3>
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| style="width: 262.35pt; border-width: medium medium 1pt; border-style: none none solid; border-color: -moz-use-text-color -moz-use-text-color black; -moz-border-top-colors: none; -moz-border-right-colors: none; -moz-border-bottom-colors: none; -moz-border-left-colors: none; -moz-border-image: none; padding: 0in 5.4pt" width="350" valign="top" |
 
Populated from the inventory item Defaults and Settings tab.
 
Populated from the inventory item Defaults and Settings tab.
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'''Landed'''
 
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Check [[Landed]] if you are including the shipping cost in the PO Item cost. This is a reference field only.
 
 
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<h3>Stock Tab</h3>
 
<h3>Stock Tab</h3>
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#      Click OK and the stock is added to inventory. Notice the summary quantities at the top of the inventory item.
 
#      Click OK and the stock is added to inventory. Notice the summary quantities at the top of the inventory item.
  
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'''Adding Serialized Stock'''
 
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#      Select the inventory item you need to add stock for.
 
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#      Select the Stock tab.
 
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#      Click Add Stock Items.
 
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#      Enter Serial Number
 
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#      Click '''Add''' for Single Serial entry or click '''Add Range''' for Range
 
 
[[File:addingserialized.jpg]]
 
[[File:addingserialized.jpg]]
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<h4>View Stock Details in Warehouses</h4>
 
<h4>View Stock Details in Warehouses</h4>
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<h3>Purchase History</h3>
 
<h3>Purchase History</h3>
 
The purchase history tab provides information about all purchase orders placed for the inventory item. Double click on a line in the grid, and SME will jump to the purchase order.
 
The purchase history tab provides information about all purchase orders placed for the inventory item. Double click on a line in the grid, and SME will jump to the purchase order.
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<h3>Syncing Inventory with QuickBooks (Link Options tab)</h3>
 
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To read about syncing inventory between SME and QuickBooks, go to the [[Default Export to QuickBooks Settings]] page.
 
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http://high5software.com/mediawiki/index.php?title=Default_Export_to_QuickBooks_Settings#Export_Options_for_Inventory_Items
 
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== Inventory Pricing Options ==
 
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There are several options for setting up pricing for inventory items.
 
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<br>1. Standard Retail Price
 
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<br>2. Price Book
 
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<br>3. Pricing Levels
 
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<h3>Standard Retail Price</h3>
 
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The amount entered in the Retail field on an inventory item will be the standard price for the item when added to an order.
 
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<br>[[File:StandardRetailPrice.png]]
 
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<h3>Price Book</h3>
 
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Price Books are used to assign customer specific pricing during order entry. You can assign a price book to a customer and all orders created for the customer will use the pricing rules assigned in the price books. An example of a price books is “30% higher than cost” or “10% less than retail”. You may also have a price book for customers that have special service pricing, different than your standard service prices.
 
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<br>To learn about setting up price books and adding items to price books, go to''' [[Price Books]]'''
 
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<br>[[File:InventoryItem_PriceBooksTab.png]]
 
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<h3>Price Levels</h3>
 
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You can also create pricing levels, either a perfect markup on the standard or a price you enter. When adding the material to an order, you can select what price level you want to use for that item (image below)
 
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<br>[[File:AddItemToOrder_SelectPriceLevel.png]]
 
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<br>To setup price levels:
 
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<br>1. Go to your inventory items > Price Levels tab.
 
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<br>2. Level 1 will be your standard retail price.
 
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<br>3. for levels 2 - 5 you can either do a percent markup from retail (first image below) or enter in a specific amount (second image below).
 
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<br>[[File:AssigingPriceLevels.png]]
 
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<br>When adding the inventory item to an order, the price field will populate with the standard retail. Select a price level and the price field will be updated based on the price levels setup.
 
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<br>For more information about adding material to orders, go to '''[[Add Items to Orders]]'''
 
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<br>'''Markup Field'''
 
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<br>The Markup field will take the cost from the Details and Settings tab and multiply it by the Markup field to update the Retail field.
 
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<br>[[File:PricingLevelsTab_Markup%Field.png]]
 
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<br>The way SME calculates the Markup:
 
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<br>Cost * 1 + Markup = Price
 
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<br>1.92 * 1.58 = 3.03
 
  
 
== Searching Inventory ==
 
== Searching Inventory ==
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[[File:AddColumnToGrid.png]]
 
[[File:AddColumnToGrid.png]]
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== SnapShot tab ==
 
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<br>[[File:InventoryItem_SnapShotTab.png]]
 
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<br> The SnapShot tab in an inventory item summarizes the following information for that item when the snapshot is taken:
 
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<br>[[File:SnapShotGridDefinitions.png]]
 
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<br>
 
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<br>To setup how frequently SME takes a snapshot of your inventory items, go To Setup module > Company > Inventory. Click '''[[Company]]''' and go to the Inventory section to learn more.
 

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