Receiving products into inventory

receive-stock-orders

When you create a product in your Hiboutik account, you can choose to track it or not into inventory. If you track your product into inventory, you can get immediately the quantity available in stock and an accurate value of your inventory.

But it is not always convenient to track all your products into inventory, especially for perishable products or items you received in small quantities that you cannot restock.

You can sell a product tracked into inventory, only if you have quantities available in stock. You need first to create a stock order.

 

1/ Create a stock order

In Products/Stock orders, you will find all your stock orders.
To create a new stock order, you must select the supplier you are ordering stock, and add a reference to identify it (like your supplier invoice number).
The new stock order is automatically assigned to the currently selected shop.
Then click on the order ID button to start adding products.
In the new stock order, only the products linked to the supplier selected are displayed and can be added.

You can add a product by selecting it in the drop-down menus, or by typing its reference, or by scanning its barcode.
Then type the quantity and click on the Add button.
You will find as many different drop-down menus as you have different variant types in your account, in order to help you enter your quantities for the different variants of your products.
When you add a product to your stock order, you can choose to print the number of labels from the received quantity.

Supply prices are fulfilled from your product forms. If the supply price is different you can modify it for each product line. Supply prices from stock orders are used to calculate the valuation of your inventory with the FIFO method (first in first out).

When you add products to a stock order, there are not yet received into inventory. You can start registering your stock order when you purchase from your supplier, and validate it later when you receive the goods.

 

2/ Complete a stock order

To complete your stock order (add products into inventory), you can:
– click on the “Receive” button in front of each product line (column Action),
– or click on the “Receive all” button.

In order to match your suppliers’ invoices with your stock orders, you can add extra-costs (shipping fees…) in each order.

You cannot unreceive a product line in your stock order if the quantity in stock available is lower than the quantity received in your stock order.
If you enable the right in Settings/Users/Access management: “Modify quantities in a received stock order”, you can increase or decrease quantities received in the limit of the quantity available in stock.
Be informed that this action can modify your former valuations of your inventory.

In Products/Stock orders, you can track the reception state of each stock order.

 

3/ Tips

If you don’t want to manage your suppliers into Hiboutik, you can create a stock order with “Unknown” as supplier name. All the products managed into inventory from your product database will be displayed in the stock order.

In a stock order, you can add a product from a different supplier (with the barcode or the supplier code fields). But in the reports, stock on this product is always assigned to the supplier linked on the product form.

If you don’t find you product in the drop-down menus:
– either your product is not linked to the supplier of your stock order,
– or you don’t have enable to track your product into inventory.

If your product is displayed in a drop down menu, but there is no field to add quantities, it means that you have not set up your variants and variant types correctly. You assign a variant type to a product and a variant type has different variations (variants). The mistake you did was to create variants as variant types.

If you are using the re-order points when you have low inventory, all products that have reached low stock levels are displayed. You can add them in a click to your stock order.

You can import a stock order from a spreadsheet file. Enter the stock order and go in the “Import” tab at the end of the chart.
You can import data by product IDs (file with  3 columns: product ID, variant ID, quantity) or by barcodes (file with 3 columns: barcode, quantity, supply price).

It is not possible to modify a stock order of more than 12 months.

 

Hiboutik free POS software is complete to manage your inventory with ease.

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