Inventory is now available

1

First of all, please keep your expectations low for now. I worked on this only 8 hours. Probably not even that but it seems to be working. Inventory is available from version 14.2.7

Why use inventory

If you are selling goods, to get the most accurate profit & loss statement, usage of inventory module is essential. Without inventory module, every time you purchase inventory, the cost goes to Expenses. With inventory module, only sold goods go to Expenses and the value of unsold goods is kept as an Asset.

Other benefits include ability to see quantities of inventory on hand, analyze profitability per inventory item etc.

What’s included

  • Ability to create/edit/delete Inventory items
  • Ability to use inventory items on invoices, quotes and orders
  • Automatic valuation of Inventory on hand account based on moving average basis
  • Inventory Movement Report to break down movements within Inventory on hand account
  • Inventory Profit Margin report to analyze profitability per each item

How to enable inventory

Go to Settings, then General Settings and check Inventory Items. This will add new tab to the side navigation where you can manage your inventory items. Also you will get two new Inventory reports under Reports tab.

How to use inventory

First of all, you will probably want to go to Inventory Items tab to create at least one inventory item.

To purchase inventory item, simply create new Purchase Invoice and select account Inventory on hand, then select inventory item.

To sell inventory item, create new Sales Invoice and select account Sales of inventory items, then select inventory item.

If you want to see your current value of inventory on hand, look for Inventory on hand account on Summary tab or on your Balance Sheet report.

Movements in Inventory on hand account are available through Inventory Movements report.

If you want to analyze profitability of each inventory item, look at Inventory Profit Margin report.

What’s next

  • Done Support for inventory adjustments & opening balances
  • Done Ability to be able to purchase inventory items with simple Spend money transaction.
  • Done Ability to be able to sell inventory items with simple Receive money transaction.
  • Add drilling-down functionality to existing reports
  • More reports (ideas?)
  • Polishing, polishing, polishing…

Final notes

I’m in the process of writing guides on how to do all inventory tasks such as purchasing, selling, returns to supplier, returns from customer, inventory write-offs, inventory re-valuations etc.

8 Likes
4

Thanks for the Inventory module. A question though! What about Sales and Purchases Invoice Items. We have to enter them again?

5

I will probably merge Sales Invoice Items, Purchase Invoice Items and Invoice Items into single place called Items to keep things simple.

For the time being. If you want an item to be inventorized, it must be created under Inventory Items

6

Thank you for the inventory. How do we add items on it though?(quantity on hand) will we have to split each purchase invoice we did into different items? And also in the future updates, is it possible to get like a more detailed section i.e. one final product of my business is made out of 10 different raw materials. Is it anyway we can do this? Because is not like I buy a product from a wholesaler and then resell it for a profit. is many different raw materials, which combined into the final product but I want it to show a value in the inventory. I trust is many users that might require this.

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Currently, the only way to increase quantity on hand is through purchase invoice. I’m working on opening balance & inventory adjustments support.

Assembly functionality which will allow you to manufacture new inventory items will be implemented too.

8

I have to download this today. By the way, will multi warehouse and multi location be implemented too?

Im also looking at other costing methods like weighted average, specific costing and standard costing.

Also, it would be good to have lot and serial numbers… and unit of measurement conversions…

Planning parameters might be a good feature too… but not for now. :slight_smile:

1 Like
9

Thank you very much for getting the inventory module available. Much appreciated

There are a few things I’d hope to see related to the inventory module:

  • Transaction History (Similar to what been implemented on Suppliers and Customers tab which has a view mode and edit mode)
  • On the inventory tab, the name column name seems to be bigger than the description column size. Contrary to the column size in purchase invoice, it’s the opposite. Could that be made consistent?
  • Is the name field meant for item code or item name. When viewing an invoice for print, the invoice doesn’t show the name of the item, instead it display its description. As a result, the invoice display nothing for items with no description.
  • Currently a way to search a product, when creating an invoice, is by searching for the name of the item. Is it possible to allow search by description as well? This is simply for ease of use. Easy for people to remember the name of the item than the item code when creating an invoice.
  • Please add the unit of measurement. If possible, add the option to display the unit of measurement on the printed invoice

I’ll post more if I can think of something else.

1 Like
10

Inventory is not work properly due to no showing hand on stock

1 Like
12

Thanks for getting inventory up & running. I have about 250 different items to enter but have noticed that when I put my buy and sell price in they show up as the selling price for my buy price and vice versa for my sell price. Must I enter a purchase order for all these items

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When we enter the new Inventory item. The Unit price for purchase and sales shows ups in the reverse i.e Purchase to Sales and Sales to Purchase in the Inventory Item list screen.
May be it is just the Column description issue. Hope you got what I meant.

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Create a purchase invoice

15

This is well appreciated. Good job.

17

How to create inventory stock record?

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@sudinstha31 I don’t recommend using inventory in Manager yet. It works but there is a lot more functionality coming in a few days that will make inventory more complete.

1 Like
19

ahad… opening balance hasnt been implemented yet. lubos said it above in “whats next”. creating purchase invoice might be ok temporary fix. but for me, i tested with one item that i have some of and it’s showing an outstanding purchase which has actually been paid long ago (prior to me starting to use manager for my accounts).
sit tight and wait for opening balance to be implemented first i say =)

20

is inventory available in the sever edition? and if so how do I obtain an update.

21

Regarding server edition, install the latest version the same way you have installed it first time from Guides | Manager

23

I am using the Windows version and when I click on the Settings and General Settings - there is no Inventory Items to check. Please advise

24

Also, when I click on the Manager website, the version available is 14.2.16

25

I have re-downloaded the program and the Inventory tabs is now available. Thank you very much for adding this feature for us.