The first option allows you to enter new stock records. You are first prompted to enter the stock code that you wish to add to the file.This reference must be in the format you have defined (see below) and you are not allowed to have duplicated stock codes in the file. The program checks for both format and uniqueness – if the format is not matched then the computer ‘beeps’, if the code already exists on the file you are warned accordingly. Pressing <Enter> or clicking the ‘OK’ button allows you to re-enter the stock code.
Stock Code Formats
The demonstration company has a format of UUUUUUUUUU. This means that you can use any combination of alphanumeric characters (or indeed other characters such as ‘-‘) in your stock code up to a maximum length of ten characters. Other formats are more restrictive, for example, AA9999 would force the first two characters to be letters and the remaining four to be numbers. For a fuller discussion of code formats see the System User Guide.
If you are using multi-location stock then the method of entering a stock code differs slightly.Firstly you are asked to input the Location. The location code used most recently is offered as default, <Enter> accepts this location, or key in the location you wish to attach to this stock item.If you are unsure of the location to use press <Select> to search the locations. Next you enter the ‘stock’ code – the full code then being a combination of the location and stock code. Note that although you may have specified a separator, such as "-" or "/” between the location and the stock code within the code formats this is automatically entered for you.
Once you have entered a valid code, the cursor moves to the input area of the first data item on the screen and you can start typing in the stock details. You may use <Enter>, <Tab> or the up and down arrow keys to move between data items, alternatively you can use the mouse to select the item you require to set. When you have entered all the details of the new stock item, either by pressing <Enter> on the last item or by clicking the ‘SAVE’ button, you are returned to the stock code prompt so that you may enter another stock item.
If you use the <Escape> key, or click the ‘X’ button at the top right of the screen, whilst typing in the details, the input is abandoned and the stock code that you entered is available for re-use.
When using Multi Locations on save of the stock record there are further facilities available, you are first asked do you want to add this record automatically to the other defined locations – respond Y or N accordingly. If respond N you are returned to the stock code input to add another record, if Y you are further asked whether you wish to add to all locations.Again ‘Y’ adds these records automatically, ‘N’ asks individually for the locations you wish to add the code to.
Notes
Datafile Diamondand Premier users can control the details replicated from one location to another when adding stock records from within the Application User Facilities. In addition these users can define separately a second set of details that are copied when updating stock records.
Remember Items when Adding Stock Records
If you often add several records in blocks, perhaps when receiving an updated catalogue from a supplier, you could be setting many of the same inputs as per the previous record you added – i.e. supplier, lead time, etc. Diamond and Premier systems allow the setting of up to forty-eight items that are set by remembered from the previous added record to the next in continuous stock entry. The items to remember are defined within the Stock Application User Facilities.
The following section describes some of the specific details you may be asked to key for each stock item.Not every item discussed could be available on your stock screen – the item may not be applicable for your product level, or the item may have been removed from the screen as it is not needed for your requirements. Also on Diamondand Premier systems you may have two screens for your stock record maintenance.
The stock description can be up to two lines of 48 characters including spaces. The size depends on the way your stock file database has been configured (note Compact is restricted to one line of 30 characters, Professional two lines of 30 characters). Optionally, Datafile Diamond and Premier users can also add additional description fields to use in the order processing applications.
The unit of issue can be text or numbers up to nine characters (we ship it as a five-character field), for instance, EACH or GROSS. It is not used in calculations. Although this is just a descriptive field, it is usually used to describe the units in which stock is held. If you entered DOZEN here, the assumption would be that stock is held in dozens. If you have physical stock of 48, then this is assumed to be 48 dozen.
One of the most obvious examples for this item is cigarettes. Your unit of sale is a pack, and you would control you stock in packs.But some packs contain twenty cigarettes, and others only ten.
When posting stock transactions, the VAT code that you specify here is used by the program automatically to calculate tax in stock transactions (you can overtype the calculated amount). The tax codes are defined in the Installation section — see also the System User Guide. Use the <Select> to view the tax codes defined.The VAT code specified is also used in the order processing and invoicing applications when the customer/supplier is set to a UK VAT code by default.
The objective of this code is to help you to manage the European Community (EC) VAT requirements if you export to or import from other EC countries. It allows you to define service items in your stock file (probably using the non-stock item facility) to ensure that they are given a separate tax code for UK EC VAT reporting purposes. See the sales and purchase ledger manuals for more information about EC VAT. Although not used in stock control, the order processing and invoicing applications apply this VAT code when the customer/supplier is set to an EC VAT code by default.
It is very helpful in order processing and invoicing applications to be able to specify service items as well as stock items. Examples of non-stock items could be - "Custom label printing”, "Annual service charge”, or "Maintenance contract”. This item allows you to enter these as though stock items, but to mark them so that order processing and invoicing applications do not update stock figures.You instead use them for description and price look-up. Reply Y <Enter> to mark this item as a non-stock item.
Note that the cost price is maintained by the stock, purchase order processing and invoicing systems as goods are received and purchase invoices processed, according to how you have specified stock valuation — see the Introduction section.When you are entering the stock item for the first time, however, you may want to enter the current cost price here.
With the Diamond and Premier ranges you may define the cost price to accept either two or four places of decimals — so prices can be entered to the nearest penny or the nearest hundredth of a penny.
Notes
Diamond and Premier systems have additional features for costs in purchase order processing.
A supplier matrix facility allows you to enter a special cost or discount arrangement you may have overrides the cost price specified here.
A function similar to the multiple selling prices in stock, sop and invoicer is available where a supplier can be assigned to a particular price band and use one of up to nine purchase order prices. The standard cost price continues to be updated from on receipt of goods, of course.
There are many situations where the cost price is expressed not per unit but per a multiple. For example, cost prices may be quoted for (say) felt-tip pens in boxes of a dozen. Even though boxes may be opened, it can still be more convenient to record the cost per box rather than for single pens.
This value is divided into any cost price recorded for stock transactions to give a unit cost. It is also not uncommon for the "cost per” quantity to be the same as the "price per” and "pack quantity” (described below), but it does not have to be so.
Your can configure your system to support up to nine different selling prices, although only five are available by default. Note that you are restricted to five selling prices for Datafile Professional; three for Datafile Compact. Enter here the prices you want to charge for the various price ranges. With the Diamond and Premier ranges you may define selling prices as allowing four places of decimals.
Notes
The sales order processing and invoice systems have discount matrix facilities that allow you to enter special prices and discounts arrangements for specific customer and stock combinations that override or adapt the prices here
Similar to the "cost per” function described above, but instead referring to the sales aspects of stock.Referring to the felt-tip example above you may primarily sell felt-tip pens in boxes and so it is the box price that is more convenient. Once you have decided on a price multiple it applies for all selling prices entered for this product.
The physical stock quantity is the current stock "on the shelf”, whether reserved for use elsewhere or not. Its value is maintained by the program when goods are received and as goods are sold or transferred and cannot be overtyped. It is the physical stock value which is used for stock valuation, and which needs to be adjusted to reflect differences on a stock-take.
This value is maintained when you reserve stock either directly through the stock system, or through the Sales Order Processing and Bill of Materials applications. Again this value cannot be overtyped.
The on-order quantity is automatically updated by the stock program when you post transactions, and also by the Purchase Order Processing and Bill of Materials applications if you are using those. As with physical and reserved stock quantities it cannot be overtyped.
Free stock is a calculated field, based on the physical stock value, plus stock on order less stock reserved. It represents the stock you could sell — if not now, in the near future — over and above those items already reserved for sale or use. In Diamond and Premier you can alter the formula for free stock to exclude on-order stock — in some industries it is deceptive to assume you will receive what you’ve ordered.
Notes
If you do not wish to alter the formula then the Sales Order Processing application can independently ignore on-order stock when processing orders, to warn you that you have insufficient stock on hand after taking care of stock already reserved.
If you want to use sales and purchase analysis codes this is automatically copied into transaction records when appropriate transactions are generated (sales issues for the sales analysis code, purchase orders delivered and goods received for the purchase analysis code). These codes are used as the default analysis codes within the order processing and invoicing systems. Values allowed range from 1-9999.
If you are using a nominal ledger, these are the default nominal account codes to be used for sales and purchase ledger transactions. Essentially these default values are for use in the order processing and invoicing systems. If you do not know the nominal codes to enter here use the <Select> key to help you.
This is used by the stock control system to help you avoid out-of-stock occasions. The re-order level is used by the "Potential Out-of-Stock” report to determine which items may become out of stock unless you order more soon.
This item is used to help you manage stock, as discussed in the introduction there is a trade-off between buying lots of small quantities frequently and buying large quantities occasionally.
This value is included on the "Potential Out of Stock” and "Out of Stock” reports and can be used as the purchase order quantity in the Diamond and Premier accessory Back-2-Back Order Processing.
Again set for reference and use in stock reports this is your default supplier for this item, <Select> will show you the purchase accounts available. This value is used as the default supplier in Back-2-Back Order Processing accessory.
This is the time it usually takes for goods to be delivered by the supplier, measured in the same time periods as Estimated Usage (below). The unit of time used for these functions is specified under the stock system profiles.
This value is an essential ingredient for calculating if stocks are running low or are over-stocked.This is explained in more detail under stock reports below. Usage is measured over a time period that is defined under the stock system profiles.Typically this time period might be defined for the whole stock system as weeks, although in some industries such as food retailing it may be appropriate to work in days.
When adding stock records you may want to enter a quantity here, but a period-end facility allows the computer to calculate this value based on actual demand.
The above items are those that appear by default on the Stock maintenance screen. These appear, with the exception of Cost Per in Compact, on all product levels. Additional fields you may have on Diamond and Premier systems include the following.
This item is maintained via the Purchase Order Processing application when orders are placed. If present, it is the price offered as the default when entering purchase orders.
This facility is essentially one of convenience. If you regularly buy and sell in packs but want to keep stock in unit quantities because you break packs down into units, then this allows you to specify quantities in packs and/or units when you enter stock transactions. You enter here the pack size you deal in for this product.If you do not deal in packs for a product, leave the pack quantity at zero.
For example, if you are a food wholesaler who buys baked beans tins in packs of a gross (144) then you may want to enter and receive 10 packs, but update your stock with a quantity of 1440. If a local corner shop buys a carton from you later, it is convenient to record a sale of 1 carton, but you may want to split packs so that you can sell single tins too.Enter a pack quantity of 144 in this example.
Notes
Issue Unit is a passive descriptive field whereas Pack Quantity is an active field that is used to interpret the data entered. See the Introduction section for more details
You may assign a group code to stock items as a way of categorising them. This is particularly useful for the discount matrix facilities of the Sales Order Processing and Invoicer applications. It is a numeric item, between 1 and 9999, that can be defined as a table entry.
In addition you may have other items for use in collating intrastats information for the Customs & Excise such as commodity code and unit weight, or indeed items for your own use.The Extra Maintenance screens (the option ‘Other’ on the bar menu) available on the Professional, Diamond and Premier Product levels allow access to further features. These include viewing the stock demand/sales values and setting extra supplier details as well as, on Diamond and Premiersetting alternate stock and batch tracking details. These are discussed later.
Article ID: 414
Created On: Mon, Jun 18, 2012 at 10:59 AM
Last Updated On: Thu, Jun 22, 2023 at 11:25 PM
Online URL: https://kb.datafile.co.uk/article/adding-a-new-stock-record-stock-control-414.html