Procountor inventory management is suitable for companies that require a simple, easy-to-use tool for monitoring inventory transactions.The inventory management feature monitors the inventory transactions and inventories of products specified by the user.
Inventory entries are generated automatically when products defined as inventory products are used on purchase or sales invoices.You can also make inventory entries manually. Inventory management will not generate accounting transactions. Entries to stocks and changes in inventory must be made in a journal.
Definition of inventory products
Before processing inventory transactions, you must define inventory products.This is done in the product register by combining the corresponding purchase and sales products.The purchase and sales product constitute a pair whose inventory stock will increase when the purchase product is used on purchase invoices and decrease when the sales product is used on sales invoices.The definition is made on the product’s product card. It makes no difference whether you combine a sales product with a purchase product or vice versa.
You can join the product pair by clicking on the Corresp. product in inventory management button. If the product does not have a corresponding product, a window is displayed in which you can select whether to set an existing product as the corresponding product or create a new one. If the product has a corresponding product in inventory management, a window is displayed in which you can choose to clear the product. If you do not wish to make any changes, click the Cancel button.
The Set product selection opens the Product register search view in which you can select the desired product.
The Set up a product selection creates a new product by copying the information of the old product.
The Clear product selection separates the product pair, also clearing the products’ inventory, i.e. the inventory stock is set to zero and the inventory transactions expire. If you want to change the corresponding product in inventory management, you have to separate the product pair first.
The Inventory stock is shown at the right edge of the search result list on the Products page. You can check the inventory stock and transactions from Register reports and the Inventory report found on the Inventory changes page.
Inventory transactions from invoices
When you use inventory products on sales invoices and are approving the invoice, the program will ask you whether to export the invoice transaction into inventory management.When using inventory products on purchase invoices, you can generate an inventory transaction by clicking on the Update inventory button on the Verification page.When you click on the Update inventory button in the Verification view, a Product information updated inventory management entry is made in the Invoice event information section.The Invoice event information are displayed in the Verification and Payment views.You can update the inventory at any time, regardless of the status of the purchase invoice.If you click on the button more than once, the previously created inventory transaction will be deleted and a new one created.Transactions generated from invoices use VAT-free prices from which discounts have been deducted.
Cases in which sales invoices can be sent without generating inventory management transactions include group invoices and use of the invoice data export file.If you do not click on the Update inventory button on the purchase invoice, an inventory management transaction will not be created.
You cannot update the inventory on the Verification of multiple invoices page. Inventory management transactions cannot be created on journals.
If you revert the status of an approved sales invoice to Unfinished, the transaction information related to that invoice will be deleted from inventory management.
Inventory changes and manual inventory transactions
The stocks of inventory products are indicated in the product register, in the right-most column of the product list.
The program menu includes an Inventory management section, through which you can view existing inventory transactions, enter new ones and delete inventory transactions whose type is Inventory event.
On the Inventory management page, you can search for transactions within the desired time period.You can limit the search to a certain product by using the Product search criterion and to a specific type of transactions by using the Type criterion.There are three types of inventory changes: Purchase invoice, Sales invoice and Inventory event.You can search for inventory transactions of a certain type by using the Type search criterion.Transactions with a type of Purchase invoice or Sales invoice are generated from invoices.Transactions with the Inventory event type are entered manually.For transactions with the Sales invoice or Purchase invoice types, the invoice number and name of business partner are indicated in the Additional information column.Transactions generated from invoices always use VAT-free prices from which discounts have been deducted.
You can create new inventory transactions on the Inventory management page by clicking on the New inventory event button.
Clicking on the Delete inventory event button will delete the Inventory event.
Clicking on the New inventory event button will open the Inventory event page.
New Inventory events are created through the Add (sales) or Add (purchase) buttons.Clicking on these buttons will open the Product register page.The inventory products specified in the sales or purchase product register will be displayed on the list.You can select more than one product from the list by using the Ctrl and Shift keys.Clicking on the Select product button will transfer the selected products to transaction rows.Enter the change in units in the Qty column and the unit price in the Price column.The default value in the Price column is the price specified in the sales or purchase product register, depending on the register through which you retrieved the product.The Qty will be positive if the inventory stock has increased and negative if it has decreased. The price is always a positive number.
You can enter more than one Inventory event at once.At the top of the page, there is an Additional information field into which you can enter additional information text, which will be included on all Inventory events entered at the same time.Enter the Inventory event’s date in the Date field.The same date will be assigned to all inventory transactions entered at the same time. The default value is the current date.
Clicking on the Delete button will delete the selected transaction.
When the transaction information is complete, click on the Add to inventory button.This will add a new row of the Inventory event type to Inventory changes.If more than one transaction was entered at the same time, clicking on the Add to inventory button will approve all of them and generate an inventory transaction row for each one.You cannot edit rows on the Inventory management page.If there are incorrect Inventory events in Inventory changes, you must delete them and create new or corrective Inventory events.
You can execute the inventory report from either the Inventory management page or through Register reports.The report shows inventory product stocks at the specified time and the transactions from which the stocks are generated.
The left-hand top view displays either the current inventory product stock or the stock at the end of the selected month or week.The value entered in the purchase product register is used as the product value.
The right-hand view shows the transactions for the selected inventory product and daily changes in quantity for the selected time period.The product value is equal to that in the inventory transaction.
A graph depicting the stock development of the selected inventory product for its entire transaction history is displayed at the bottom.
Inventory management without Procountor’s Inventory management function
If you are not using Procountor’s Inventory management function, you can implement inventory management in the following manner:
Information on the monthly quantities of purchased and sold products is available from the Product amount reports accessible through Registers > Register reports > Product amount reports. Simple inventory accounting and the creation of inventory lists are possible on the basis of this information.
The Product amount report contains a monthly listing of the products found in the product register that have been used on sales invoices, purchase invoices and journals. You can sort the information either by product quantity or price.The information can be viewed at the level of individual products or at that of products included on invoices for a specific business partner.
If the purchase and sales product registers have been compiled with corresponding products and product-register products are used on invoices, the report will indicate the products’ monthly purchase and sales quantities.If you combine a product’s purchase and sales information with any balance/inventory data in Excel, for example, you will see current stock levels and the changes in product quantities and be able to create inventory lists of the products.