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Inventory item preferences

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There are two kinds of preferences that can be set for inventory items:

Global preferences

When these preferences are set, they are applied system-wide for all users and will affect all inventory items.

If you set any global preference you need to close all windows it relates to in order for it to have an effect.

Per-item preferences

When these preferences are set they are also applied system wide for all users, but only per specific inventory item and not all inventory items like with that of global preferences.

This guide will take you through the global preferences as well as normal preferences that are at your disposal, discuss what effect they will have on your inventory items as well as show you how to set them.

Global preferences

Use Swop-out Stock

When doing a swop-out you can either have the inventory item be transferred from your normal stock location or from your swop-out stock location. Setting this preference will determine which stock type will be used.

What are the steps to set this preference?

  1. Navigate to System /  Company Parameters.
  2. Click on the Global Settings tab.
  3. Click on the Stock tab.
  4. Enter Y or N in the Use Swop-out Stock text box.
  5. Click the Accept button.
  6. Check that the following message box appears: The company parameters have been updated successfully.

Allow Negative Stock

This preference applies to all stock types and can each be set separately. It controls whether stock is allowed to have negative on-hand quantities.

There is a per-item preference that needs to be set for this to be applied to the individual inventory items as well. See how to do this here.

What are the steps to set this preference?

  1. Navigate to System /  Company Parameters.
  2. Click on the Global Settings tab.
  3. Click on the Stock tab.
  4. Enter Y or N in the relevant Allow Negative Stock text boxes.
  5. Click the Accept button.
  6. Check that the following message box appears: The company parameters have been updated successfully.

Stock Search Selling Price

This preference determines which selling price you will see when doing a stock search in any window. You can choose between price type 1-6, or set it to 0 for no price to be displayed.

What are the steps to set this preference?

  1. Navigate to System /  Company Parameters.
  2. Click on the Global Settings tab.
  3. Click on the Stock tab.
  4. Enter the appropriate price type number in the Stock Search Selling Price text box.
  5. Click the Accept button.
  6. Check that the following message box appears: The company parameters have been updated successfully.

Display Total Available Stock

When doing a stock search when creating a sales order, purchase order, invoice, credit note or GRV, you can set the list to show the total available stock available per inventory item with this preference. Total available stock refers to the stock that you have on hand, minus the stock that is on order.

You can set which stock locations should be part of the available stock that is displayed as well.

What are the steps to set this preference?

  1. Navigate to System /  Company Parameters.
  2. Click on the Global Settings tab.
  3. Click on the Stock tab.
  4. Enter Y or N in the Display Total Available Stock text box.
  5. Click the Accept button.
  6. Check that the following message box appears: The company parameters have been updated successfully.

Do the following to set which stock locations should be part of the available stock that is displayed:

  1. Navigate to System /  Company Parameters.
  2. Click on the Stock Locations tab.
  3. Enter Y in the AVAILABLE column for each appropriate stock location.
  4. Click the Accept button.
  5. Check that the following message box appears: The company parameters have been updated successfully.

Update stock item lead times

When you enable this preference Fincon Accounting will automatically update the lead time for inventory items by using your last purchase order date and GRV date. It takes the average of your last two GRV's to calculate the lead time.

What are the steps to set this preference?

  1. Navigate to System /  Company Parameters.
  2. Click on the Global Settings tab.
  3. Click on the Stock tab.
  4. Enter Y or N in the Update Stock Item Lead Times text box.
  5. Click the Accept button.
  6. Check that the following message box appears: The company parameters have been successfully updated.

Required Stock Levels

This global preference relates to suggested re-ordering. When using the suggested re-order report you will be able to see what is suggested to be re-ordered either based on minimum or maximum levels of stock or based on the number of weeks. 

Setting this preference will determine what will be used in this report.

What are the steps to set this preference?

  1. Navigate to System /  Company Parameters.
  2. Click on the Global Settings tab.
  3. Click on the Stock tab.
  4. Enter M or W in the Required Stock Levels text box.
  5. Click the Accept button.
  6. Check that the following message box appears: The company parameters have been successfully updated.

Stock Take Type

There are two stock-take types you can choose from.

You can choose either stock-take type 0 which is time of update or stock-type 1 which is at time of file creation.

Type 0

When choosing type 0, the system will take all your stock into account up until when the stocktake is updated. If you did transactions in the meantime discrepancies will occur, but they will be shown out to you.

When using this stocktake type, it is suggested to not do any transactions between the time of the stocktake list creation and the update.

Type 1

If you choose type 1, a snapshot is taken at the time the stock-take list is created. All counted quantities are then compared against that snapshot. This means that transactions done after the stock-take list has been created do not affect the stock-take list.

When doing a scanned stock-take and all your items are serialised stock will automatically be updated because the items can be tracked.

What are the steps to set this preference?

  1. Navigate to System /  Company Parameters.
  2. Click on the Global Settings tab.
  3. Click on the Stock tab.
  4. Enter 0 or 1 in the Stock Take Type text box.
  5. Click the Accept button.
  6. Check that the following message box appears: The company parameters have been successfully updated.

Item Class/Group/Brand/Category Compulsory

These preferences allow you to make it compulsory to create a stock class, group, brand or category when creating inventory items.

What are the steps to set this preference?

  1. Navigate to System /  Company Parameters.
  2. Click on the Global Settings tab.
  3. Click on the Stock tab.
  4. Enter Y or N in the relevant Item Compulsory text boxes.
  5. Click the Accept button.
  6. Check that the following message box appears: The company parameters have been successfully updated.

Default Serial Number on Items

You can set whether an inventory item will have a serial number by default at the time of its creation.

  1. Navigate to System /  Company Parameters.
  2. Click on the Global Settings tab.
  3. Click on the Stock tab.
  4. Enter Y or N in the Default Serial Number on Items text box.
  5. Click the Accept button.
  6. Check that the following message box appears: The company parameters have been successfully updated.

Per-item preferences

Active

This preference allows you to set an inventory item as active or inactive, it is set to active by default. By making an inventory inactive it will no longer show up on reports, come up on searches and you will not be able to use it in transactions.

If you have stock of the inventory item or it is present on transactions, you will not be able to set it to inactive.

What are the steps to set this preference?

  1. Navigate to Inventory / Stock Maintenance
  2. Enter (or select) the appropriate item number in the Item Number column.
  3. Enter Y or N in the Active text box.
  4. Click the Accept button to save the changes.

Zero Cost

This preference determines whether you will be able to trade with the inventory item if it has zero cost.

What are the steps to set this preference?

  1. Navigate to Inventory / Stock Maintenance
  2. Enter (or select) the appropriate item number in the Item Number column.
  3. Enter Y or N in the Zero Cost text box.
  4. Click the Accept button to save the changes.

Bill No

This preference determines whether the inventory item is part of a sub-assembly or not, and if it is, what bill of material to use.

What are the steps to set this preference?

  1. Navigate to Inventory / Stock Maintenance
  2. Enter (or select) the appropriate item number in the Item Number column.
  3. Enter Y or N in the Bill No text box.
  4. Click the Accept button to save the changes.

Sec Level

This preference assigns a security level to the inventory item. Depending on what security level a user has and what security level is assigned to the inventory item, a user will or will not be able to see certain information about the inventory item or use the inventory item in transactions.

Users can be given a certain security level by doing the following:

  1. Navigate to System / Users and Passwords.
  2. Click on the Security tab.
  3. Enter the appropriate security level in the appropriate text boxes.

What are the steps to set this preference?

  1. Navigate to Inventory / Stock Maintenance
  2. Enter (or select) the appropriate item number in the Item Number column.
  3. Enter the security level for the inventory item in the Sec Level text box.
  4. Click the Accept button to save the changes.

Min Margin

This is where you set the inventory item's minimum profit margin. If the item has a variable price structure and the selected applicable profit margin is smaller than the required minimum profit margin entered here, the selling price will be calculated using this minimum profit margin.

Users can be permitted to override the minimum profit margin by giving them the applicable user right by navigating to System / Users and Passwords.

What are the steps to set this preference?

  1. Navigate to Inventory / Stock Maintenance
  2. Enter (or select) the appropriate item number in the Item Number column.
  3. Enter the minimum profit margin percentage in the Min Margin text box.
  4. Click the Accept button to save the changes.

Var Description

If this preference is enabled, users will be able to change the description of the item at the time of creating a transaction. Non-stock items' description can be changed at any time even if this preference is not enabled.

What are the steps to set this preference?

  1. Navigate to Inventory / Stock Maintenance
  2. Enter (or select) the appropriate item number in the Item Number column.
  3. Enter Y or N in the Var Description text box.
  4. Click the Accept button to save the changes.

Hide price

When this preference is set, the price of the item will be hidden on quotations, sales orders, invoices and credit notes. This only applies when the documents are printed.

What are the steps to set this preference?

  1. Navigate to Inventory / Stock Maintenance
  2. Enter (or select) the appropriate item number in the Item Number column.
  3. Enter Y or N in the Hide Price text box.
  4. Click the Accept button to save the changes.

Price List

Setting this preference will allow the item to be part of a price list.

What are the steps to set this preference?

  1. Navigate to Inventory / Stock Maintenance
  2. Enter (or select) the appropriate item number in the Item Number column.
  3. Enter Y or N in the Price List text box.
  4. Click the Accept button to save the changes.

Negative

If this preference is enabled the item's stock will be able to be negative. The global preference needs to be set as well for this to be applied. You can see how to do this here.

What are the steps to set this preference?

  1. Navigate to Inventory / Stock Maintenance
  2. Enter (or select) the appropriate item number in the Item Number column.
  3. Enter Y or N in the Negative text box.
  4. Click the Accept button to save the changes.

Serial Numbers

This preference determines whether the item is serialised and needs to be scanned or not. This will only take effect if the serial number tracking is enabled globally as well. You can see how to do this here.

What are the steps to set this preference?

  1. Navigate to Inventory / Stock Maintenance
  2. Enter (or select) the appropriate item number in the Item Number column.
  3. Enter Y or N in the Serial Numbers text box.
  4. Click the Accept button to save the changes.

Sub Numbers

This preference determines whether the item has sub-serial numbers. This will only take effect if the serial number tracking is enabled globally as well. You can see how to do this here. Sub-serial numbers are used to keep track of components inside an item if it was purchased as a complete unit.

What are the steps to set this preference?

  1. Navigate to Inventory / Stock Maintenance
  2. Enter (or select) the appropriate item number in the Item Number column.
  3. Enter Y or N in the Sub Numbers text box.
  4. Click the Accept button to save the changes.

Batch numbers

This preference determines whether the item has batch number tracking or not.

What are the steps to set this preference?

  1. Navigate to Inventory / Stock Maintenance
  2. Enter (or select) the appropriate item number in the Item Number column.
  3. Enter Y or N in the Batch Numbers text box.
  4. Click the Accept button to save the changes.

Item Type

This preference determines the stock type of the item. There are 5 stock item types namely:

  • 0: Stock item
  • 1: Non-stock item
  • 2: Non-stock item with a negative price
  • 3: Stock item, with differences pertaining to invoices and credit notes. (Refer to the Help function in Fincon Accounting).
  • 4: Non-stock item with a serial number

What are the steps to set this preference?

  1. Navigate to Inventory / Stock Maintenance
  2. Enter (or select) the appropriate item number in the Item Number column.
  3. Enter appropriate item type in the Item Type text box.
  4. Click the Accept button to save the changes.

Price Structure

This preference determines whether the item will use fixed or variable pricing. Read this article to learn more about this.

What are the steps to set this preference?

  1. Navigate to Inventory / Stock Maintenance
  2. Enter (or select) the appropriate item number in the Item Number column.
  3. Enter 0 for fixed pricing or 1-50 for the different variable prices that have been set up in the Price Structure text box.
  4. Click the Accept button to save the changes.

Tax code

This preference determines the item's default tax code.

What are the steps to set this preference?

  1. Navigate to Inventory / Stock Maintenance
  2. Enter (or select) the appropriate item number in the Item Number column.
  3. Enter the appropriate tax code in the Tax Code text box.
  4. Click the Accept button to save the changes.

Sales Account

This is where you enter the ledger account to be credited with sales related to this stock item.

What are the steps to set this preference?

  1. Navigate to Inventory / Stock Maintenance
  2. Enter (or select) the appropriate item number in the Item Number column.
  3. Enter (or select) the appropriate ledger account in the Sales Account text box.
  4. Click the Accept button to save the changes.

Cost Account

This is where you enter the ledger account to be debited with the cost of sales related to this item.

What are the steps to set this preference?

  1. Navigate to Inventory / Stock Maintenance
  2. Enter (or select) the appropriate item number in the Item Number column.
  3. Enter (or select) the appropriate ledger account in the Cost Account text box.
  4. Click the Accept button to save the changes.

Warranty - Months

This is where you enter the warranty period of the item.

What are the steps to set this preference?

  1. Navigate to Inventory / Stock Maintenance
  2. Enter (or select) the appropriate item number in the Item Number column.
  3. Enter the warranty period in the Warranty - Months and Days text boxes.
  4. Click the Accept button to save the changes.

Re-Order

This preference determines whether the item should be part of the suggested re-order list.

What are the steps to set this preference?

  1. Navigate to Inventory / Stock Maintenance
  2. Enter (or select) the appropriate item number in the Item Number column.
  3. Click on the Re-Order tab.
  4. Enter Y or N in the Re-Order text box.
  5. Click the Accept button to save the changes.

Whole Units

Setting this preference determines whether the item can only be sold in whole units or whether it can be sold in part.

What are the steps to set this preference?

  1. Navigate to Inventory / Stock Maintenance
  2. Enter (or select) the appropriate item number in the Item Number column.
  3. Click on the Supplier tab.
  4. Enter Y or N in the Whole Units text box.
  5. Click the Accept button to save the changes.

Web List

This preference determines whether the item will be part of the export with a data feed to a website.

What are the steps to set this preference?

  1. Navigate to Inventory / Stock Maintenance
  2. Enter (or select) the appropriate item number in the Item Number column.
  3. Click on the Description tab.
  4. Enter Y or N in the Web List text box.
  5. Click the Accept button to save the changes.

Minimum Order Quantity

This preference sets the minimum quantity of the item you can order.

What are the steps to set this preference?

  1. Navigate to Inventory / Stock Maintenance
  2. Enter (or select) the appropriate item number in the Item Number column.
  3. Click on the Description tab.
  4. Enter the minimum order quantity of the item in the Minimum Order Quantity text box.
  5. Click the Accept button to save the changes.

Multiples

This preference determines whether the order quantity must be multiples of the minimum order quantity.

What are the steps to set this preference?

  1. Navigate to Inventory / Stock Maintenance
  2. Enter (or select) the appropriate item number in the Item Number column.
  3. Click on the Description tab.
  4. Enter Y or N in the Multiples text box.
  5. Click the Accept button to save the changes.

Levy Type

This preference determines whether the import levy is entered as an amount per unit or as a percentage of the freight onboard price.

What are the steps to set this preference?

  1. Navigate to Inventory / Stock Maintenance
  2. Enter (or select) the appropriate item number in the Item Number column.
  3. Click on the Supplier tab.
  4. Enter A or P in the Levy Type text box.
  5. Click the Accept button to save the changes.
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