Stock inventory

Owned by Timothy Hitchcock
Last updated: May 27, 2020
2 min read

Stock inventory is material bought and stored in a warehouse until it is needed for a Project.

What is the difference between inventory and stock?

  • Inventory: items which are tracked when consumed and can be applied to a single project.

    • example: panels allocated to and reserved for a specific job.

  • Stock: items that are not tracked when consumed and are used over a variety of projects.

    • example: screws, glue, sandpaper (consumables).

When material is needed for a project, it is "sold" to the project via a "Stock Order PO" so it will be included in Job Costing.

A "Stock Order PO" is any PO that has the Status set to the "Stock Order Status" on the Purchasing Tab in Settings.

PO Items Received on a "Stock Order PO" will not be added to Inventory since they should have already been added when they were received from the actual Vendor on another PO.

Manage stock inventory with part lists

Part Lists can be created on the Part Lists Form.

Create different Part Lists to categorize different types of materials.

For example, use names such as 'Hardware' or 'Panels'.

Use Part Lists as a tool for checking stock levels and creating MRs or POs to re-stock your inventory.

Charge stock inventory to a project

Similar to ordering project-specific material, except for the vendor and status.

Create a PO and set the vendor as your business, or another business you've created to use as for stock orders.

Set the status of the PO to the 'Stock Order Status' set on the Purchasing tab in Settings.

Create PO Items or Import MR Items and link them to the projects as needed.

Once all items have been received, the status of the PO can be changed.

Make sure the status is set to the 'Stock Order Status' before receiving PO Items or you may add unwanted records to your inventory.

Set default pricing for stock inventory

Use the Vendor Pricing for the Business you're using as the Vendor on Stock Order POs.

Edit Vendor Pricing on the Pricing Tab of the Purchase Order Form or on the Vendor-->Pricing tab of the Business Form.

When an MR Item is imported to a PO or when a PO Item is modified, it should update the Price if it finds a matching Vendor Pricing record.