Inventory Items

Publicado el
Published on
September 6, 2023
Actualizado en
Updated on
December 18, 2023

In this article, we will show you how to efficiently manage inventory items in your business using Cashflow. Inventory items are tangible goods that your company purchases for resale or for use in the production of goods and services. You will learn how to add, edit, delete items, manage inventory options, and import items in bulk.

These same options for adding, editing, deleting, and importing items can also be found under Masters > Products and Services.

1. Add an inventory item

To add an inventory item, follow these steps:

  1. In the main menu, go to Inventory, and then click on Inventory Items.
  2. In the list of Inventory Items, click on the (+) button.
  3. Set the name, category, and description of the product.
  4. Define whether the product is bought and sold, and its tax information.
  5. If the product will have an individual commission, define the commission percentage for the sale of this item.
  6. Define whether it is active and available for transactions.
  7. In the Inventory Item section, define the product type, unit of measure, SKU, prices, costs, and the quantity of units in stock.
  8. In the Units of Measure (UoM) section, you can define if this product can be divided into smaller units.
  9. In the Dimensions section, you can define the dimensions, volume, and weight of the product.
  10. You can upload product images. These are displayed in both the Point of Sale and sales modules if you configure the option to show images.
  11. In the Accounting section, you can define the ledger accounts for each type of transaction.
  12. Click Save to save the changes.
[9] Units of Measure (UoM)
The units of measure function allow you to define if this item can be divided into smaller units. This is useful if you purchase inventory in bulk and need to divide a package into individual units. Example: A bundle of water (24 units) contains 24 individual water bottles (1 unit each).
[10] Dimensions
The dimensions function allows you to define the volume and weight of an item. This is useful for calculating landed costs if you purchase and import this item from abroad.
[12] Accounting
The accounting options allow you to set which ledger accounts each type of transaction that uses this item should affect. If you don't understand how to use this, leave the default values or consult with your accountant.

2. Edit an inventory item

To edit an inventory item, follow these steps:

  1. In the main menu, go to Inventory, and then click on Inventory Items.
  2. In the list of Inventory Items, locate the item you want to edit.
  3. Click on the actions menu (three horizontal dots) next to the item you want to edit.
  4. Click Edit.
  5. Now you can change the item's information.
  6. Click Save to save the changes.

3. Delete an Inventory Item

To delete an inventory item, follow these steps:

  1. In the main menu, go to Masters, and then click on Products and Services.
  2. In the list of products, locate the product you want to delete.
  3. Click on the actions menu (three horizontal dots) next to the item you want to delete.
  4. Click Delete.
  5. You will be asked to confirm the deletion.
[4] Delete
Please note that if you cannot see the option to delete a particular Item, it means you cannot delete it because this item is linked to transactions. You cannot delete items with transactions.

4. Switching Warehouses

If you have multiple warehouses, you can assign each user specific access. With Cashflow, a user can change their assigned warehouse and manage the corresponding items from the inventory list.

  1. In the Inventory Item's list, click on Inventory (Title).
  2. Choose the warehouse from the dropdown list.
  3. The system will display the list of items in the new warehouse.
Warehouse Permissions
In order for a user to operate in a warehouse, access to that warehouse must be defined. This can be done when creating the user or by editing the user and assigning the warehouses they can access.

To grant a user access to a warehouse, go to Settings > Users, find the user, and click Edit. In the Warehouse field, click the Warehouse button. Choose the warehouse from the list and click Save.

Note: If the user is in an active session, they must log out of the system and log back in to see the changes.

5. Inventory List and Options

The inventory list of products/items displays a list of inventory items along with a series of options available in the actions menu (represented by three horizontal dots) for each item. The options available in this menu include:

  • Preview
    This option allows you to view general product information, the quantity of stock in each warehouse, transaction history, and orders.
  • Edit
    In this option, you can edit an inventory item. You can modify the name, description, price, and information such as taxes, unit of measurement, dimensions, images, and more.
  • Order
    If you need to order more units of this item, this option allows you to generate a purchase order to your supplier with the product details.
  • Adjust
    If you need to make an adjustment to the quantity in stock of this inventory item, you can do so with this option.
  • Transfer
    This option enables you to transfer units of a inventory item from one warehouse to another.
  • Delete
    If you need to delete an inventory item for any reason, you can do so using this option. Please note that you can only delete a product that is not linked to a transaction.

6. Import Items

If you have a large number of products/inventory items to add, you can use the bulk import feature to save time. This feature allows you to upload a list of products from a spreadsheet file instead of adding each product individually.

Here are the steps to import items:

  1. In the main menu, go to Inventory and then click on Inventory Items.
  2. In the list of Inventory Items, you can click on the (+) button and then select Import.
  3. You can also do this through the "Import from Excel" option located below the list.
  4. Once you are on the import screen, in the Transaction Type field, choose "Products and Services" and in the Action field, select Create.
  5. Click on the Upload File button, and in the window, click on Browse File to choose your import file from your computer. You can download an import template by clicking on the "Import Template" option.
  6. Click on Upload File and select the file from your device.
  7. Once the file has been successfully uploaded, click on Continue.
  8. Now you will need to match the fields. In the Match Fields window, for each field on the left, choose the corresponding column from your file in the dropdown menu.
  9. When you have finished matching the fields, click on Continue.
  10. Your data will be imported into the spreadsheet window. Here, you can review and make any necessary adjustments.
  11. When you have finished reviewing your data, click on Save and Upload.

Remember, it's always important to review the accuracy of the data after the bulk import to ensure that all products have been imported correctly.

Import Processing
When you click 'Save and Upload' for your file, the system will place it in an import queue. The import process typically takes less than a minute, but it could take much longer depending on the number of records you are importing.

Tips & Best Practices

  1. Proper Categorization
    When adding a new inventory item, make sure to assign the correct category. This makes it easier to search for and track products.
  2. Unique SKUs
    Define unique SKUs for each product to avoid confusion during sales or purchase transactions.
  3. Use of Images
    Uploading images for your products can be very helpful for both your staff and customers, as it facilitates product identification.
  4. Warehouse Management
    Use the warehouse change functionality if you operate in multiple locations. This feature simplifies the management of multiple warehouses.
  5. Understand Accounting
    Before setting up ledger accounts for each transaction type, make sure you understand how your business' accounting works or consult with your accountant.
  6. Regular Inventory Updates
    It's essential to keep your inventory information up to date. Conduct regular reviews and adjust the quantity in stock when necessary.
  7. Bulk Import
    If you have many products to add, use the bulk import feature. This will save you time compared to adding each product individually.
  8. Product Deletion
    Before deleting a product, ensure that it is not linked to any transactions. It's safer to deactivate a product than to delete it entirely.
  9. Warehouse Permission Settings
    To allow users to operate in a specific warehouse, you must configure warehouse permissions. Make sure to assign permissions to the right users.
  10. Tracking Import Costs
    If you import products, use the dimensions function to calculate import costs. This will help you maintain control over your expenses.

Common Issues

If you encounter problems, here are some troubleshooting steps you can follow:

  1. Where Do I Define the Initial Stock of a Product?
    When creating a new inventory product/item in Cashflow, you can define the initial stock in the "Inventory Item" section. Here, you'll find a field to enter the initial quantity of units in stock for each warehouse. You can also create an inventory entry with the initial stock of each product per warehouse, which is more viable if you have many inventory items or if warehouse staff are entering the information.
  2. I Can't Change Warehouses
    If you can't change warehouses, it may be due to user permissions. Ensure that your user profile has the appropriate permissions to access and operate in the warehouse you are trying to select. If the issue persists, contact technical support.
  3. I Can't Update the Product Cost
    Once you have defined the initial product cost, this cost will be updated based on the inventory cost method chosen in your inventory settings. These can be FIFO (PEPS), LIFO (UEPS), or AVCO (Average), each of which is applied according to the type of inventory.
  4. My Inventory Information in the System Differs from My Physical Count
    When you notice a discrepancy between your inventory in Cashflow and your physical count, you can use the "Adjust" option in the actions menu for each product to correct the quantity in the system.
  5. I Can't See the Transaction History of a Product
    To view the transaction history of a product, select the "Preview" option in the actions menu of the product. If you still can't see the transaction history, it may be a technical issue, and you should contact technical support.
  6. Where Do I Define the Cost Method?
    To define the inventory cost method, go to Main Menu > Masters > Product Groups. In the list of groups, search for "Product Group" and click on the actions menu (three horizontal dots), then choose Edit. Go to the "Inventory" tab and select the option from the Valuation field, then click Save.
  7. Which Accounting Accounts Should I Choose?
    The accounting accounts to choose for each transaction depend on your company's accounting structure and tax regulations in your region. If you're unsure which accounting accounts to select, we recommend consulting with an accountant or financial expert.
  8. Errors When Importing Data
    When importing data from a spreadsheet, you may encounter errors if the data doesn't match the formats and fields required by the system. Ensure you're using the correct format for each field, and that all required fields are present in your import file. Use the provided import template to ensure the correct format.
  9. Import Is Taking Too Long
    The import processing time depends on the size of the file. If the file is large, it may take several hours to import all the data. Be patient and wait for the import to complete. If several hours have passed and it's still not complete, consider contacting customer service.
  10. I Uploaded a File for Bulk Import, but Some Data Is Missing or Incorrect
    When you upload a file, the system maps the columns in your file to the fields in the Cashflow system. If the data doesn't appear correctly, review the field mapping to ensure that each Cashflow field corresponds to the correct column in your file.

If you continue to face issues, don't hesitate to contact our support team for assistance.