Create and manage inventory items

Inventory items are used to identify, count, and manage physical goods or materials held by a business for sale or production. They are used when entering line items in many transaction forms in Manager. Beyond being the foundation of quantity monitoring, they:

Inventory items are used for sale, purchase, and management of physical goods, because they support counting quantities on hand, monitoring stock movement, and calculating profitability. For commonly sold or purchased goods or services that are not managed in this way, use non-inventory items.

Enabling the Inventory Items tab

To use any inventory-related function in Manager, enable the Inventory Items tab. At the bottom of the left navigation pane, click Customize, check the box for Inventory Items, and click Update below the list:

Basic steps for creating inventory items

In the Inventory Items tab, click the New Inventory Item button:

Complete the definition:

Click Create to save the inventory item (or continue by adding additional detail as described below). The inventory item will be visible in the Inventory Items tab:

Adding detail to inventory items

Several accounts are activated automatically when the Inventory Items tab is enabled and the first inventory item is created. By default, inventory transactions will post to these:

For many businesses, these are sufficient. But for businesses wishing to further divide inventory accounts, two checkboxes indicate whether sales or purchases of the inventory item should be posted to custom accounts created by the user. When these are checked, fields appear for non-standard account designation. Such custom accounts must be created first in the chart of accounts:

Inventory items cannot be assigned to control accounts because Manager has no way to determine in advance which subaccount is applicable, so the transaction would be posted to Suspense. For example, an inventory item cannot be assigned to Billable expenses, because the required customer would be unknown.

Additional options are available by checking boxes. Relevant information will be prefilled when the inventory item is added to a form:

Using inventory items

Inventory items can be used for:

When completing most of these forms, an Item field will appear at the left end of line items whenever any applicable inventory or non-inventory items have been defined. To use an inventory item, click on the dropdown box of the Item field. Or, begin typing the Item Code or Item Name in the field to take advantage of the autosearch capability. When an inventory item has been selected, all its parameters will automatically be filled for the line. Either cost price or sales price will be used, depending on the type of form. Anything can be edited:

Updating inventory items

Inventory items can be updated when required, such as when a price change occurs. In the Inventory Items tab, click Edit for the item to be changed:

Edit the item as desired and click Update. Existing forms using the inventory item will not be modified. Only future forms will be affected.

If the inventory item is no longer needed, it can be deleted as long as it has never been used. But Manager will not allow inventory items to be deleted if they have been used. In that case, as mentioned above, check the box, and the inventory item will no longer be available.

If an inactive inventory item becomes useful again, scroll to the bottom of the inventory item list, where you will see the item’s name in light grey text with strike-through markings. Click Edit next to the item’s name:

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Uncheck the box and the item will once again be available. Remember to click Update when finished editing.



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