This guide provides instructions on how to implement, enable, activate, start using and manage the stock management function in the Netvisor system. The implementation, enablement, activation, start using covers tracking stock quantities, selecting stock valuation methods, setting user permissions, and tips for daily use.

CONTENTS

The stock management section allows tracking of product stock quantities and shows the stock value of stored products per stock. When the settings are correct, sales transactions reduce the stock quantity for stored products.

Implementing stock management

Netvisor's stock management has transitioned to the Rackbeat program for new customers. For Rackbeat implementation, enablement, activation, start using, please contact Netvisor sales: myynti.netvisor@visma.com 

Adding user permissions

Users of stock management must have edit rights in the function-specific permissions section for stock management. This is included in the company user profile. Additionally, sales and purchase ledger permissions should include edit rights for the purchase price. The commission section is irrelevant.

If there are no rights to the purchase price, an * mark appears next to the price.

Selecting stock valuation methods

Choose the valuation method that best suits the company. Options include FIFO calculation, running average price, and weighted average price. More information on valuation methods can be found in the Stock valuation methods guide.

Creating stocks and shelf locations

Establish the desired stock locations and possible shelf locations in the company according to the Stocks and shelf locations guide.

Selecting stock transaction types

Stock transaction types are used to group transactions and limit stock reports. You can create custom types for transaction type usage, which you can set as defaults for the specific usage. This does not necessarily need to be changed, and default values can be used. More information on transaction types can be found in the Stock transaction types guide.

Product information and defaults in order

Define in the product register which products are stored. Also, define the correct sales price and purchase price for these products. Set the default stock for the products. If there are no products, they can be imported into the company via data import as a .csv file. More information on product data import can be found in the Product data import guide. If products are created manually, instructions for doing so can be found in the Creating a new product guide.

Entering stock opening balances

Stock balances can be added to products using the inventory function in the product listing. More information on inventory can be found in the Inventory guide. Before performing inventory, ensure that a purchase price has been added to the products. This should also be considered if a product is manually added to the stock through a new stock transaction with the type purchase.

After this, stored products on the sales invoice will reduce the quantity of products in stock. 

Special considerations during stock management implementation

Netvisor starts recording stock transactions from business transactions in sales and purchases automatically when the service is activated. Therefore:

  1. Ensure that products handled in business transactions have at least a purchase price defined to ensure the stock value is correct. Correcting values for transactions afterward is unnecessary manual work. 
  2. Record stock opening balances as soon as possible to prevent your stock balance from going negative due to sales transactions. The average price used in transactions is calculated for the product only during the first opening balance entry. This also ensures that the stock value and margin are recorded correctly, avoiding unnecessary manual correction work. 
  3. Ensure that you enter a purchase price for the opening balances, from which the product's average price is calculated.

Tips for daily use of stock management 

  1. Recording stock transactions is easy when default settings are in order.
    • The product's default stock is formed for all stock transactions
    • The product's purchase price or vendor-specific purchase price is included in purchases
    • The type used in transactions is automatically set for usage points with default stock transaction types
    • The product's stock shortage is visible at every stage of the transaction processing when a stock alert limit is set for the product
  2. Inventory or recording opening balances can be done for multiple products at once using the inventory function in the product listing process basket
  3. Product-specific stock settings can be edited in bulk in the product listing process basket
  4. The product listing can be used for stock reporting. Stock-specific balances are visible in their own columns
  5. The most used stock reports can be saved as report templates
  6. When the stock valuation method is set to FIFO calculation, batch tracking and linking automation are enabled for products
  7. Product availability can be ensured by setting alert limits for products. The "Product consumption" report from stock management reports can be used to automatically suggest alert limits based on the previous sales period's consumption.
  8. The change in stock value can be recorded, for example, at the end of the month using the Recording stock value change guide.

Extended product management (Premium package):

  1. With extended product management, manufacturing entries for stock preparations can be made in the product listing process basket when a sub product structure is formed. Sub products are automatically deducted from stock according to the structure when a manufacturing entry is created.
  2. Stock reports can be limited to only manufacturing transactions when composite products and sub products are assigned their own stock transaction types and the report is limited to these two types.

Keywords: Stock management, stock transaction types

This article has been translated using an AI-based translation tool. The contents or wording of these instructions may differ from those in other instructions or in the software.


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