Overview:

Stock Items are utilised throughout Workbench as the backbone of the Stock system. An Item is a piece of Stock, an Item must exist to manage a piece of Stock, and all necessary parts of Stock Setup must be completed. It is necessary to issue and value stock on an ongoing basis.

This screen can be accessed through both the Stock list and Stock Setup list.

Screen Guide:

List Screen

Open

The initial list shows all existing Stock Items and details. New items can be created using the + New Item button. Additionally there is an Import to create multiple Items at once by importing all the data from a file. 

Using the + button on the left side of each row drops down subtotals for each Stock Location that contains the stock item.

There are several links available to see detailed information:

• The Code field links to the item maintenance where you can adjust details of the item itself.

• The Quantity on Order field links to Stock Transactions screen and pre-populates the filter for the details of the line clicked on, showing only Purchase Orders. The list is Period based, same as Stock Transactions screen (as opposed to being Transaction Date based).

• Quantity on Hand links to Stock Transactions as well but shows all other transaction types for the line clicked on. The list is Period based, same as Stock Transactions screen (as opposed to being Transaction Date based). This is always the balance recorded at the last stock close out (not necessarily the current Period), plus any subsequent transactions.

Stock Item Maintenance/Creation

Open

• Code is the unique item code assigned to this stock item.

• Description should describe the item for it to be searchable and distinguishable.

• Inactive marks the item as inactive, preventing its use. It also deactivates the Purchasing Catalogue line linked to the Stock Item in the System Stock Catalogue to prevent its use on Purchase Orders. This catalogue is created and maintained by the system, and includes all existing Stock Items.

• Unit is the unit of measurement.

• Standard Cost is the default amount that the item costs the job when issued. This will only be used for Standard Stock Costing Method, where there is no Cost Rate set at Location level.
  For Last and Average methods the Cost rate is managed per Location (this Standard Cost is not used).
  For Average Costing Method the calculation of the average cost applied to stock issues and returns, excludes the transactions themselves and any other transactions with a later date.

• Last Cost is the unit cost updated from the actual costs recorded on AP Invoices which include purchases for stock. This happens as soon as the AP Invoice is approved.

• Serial Numbers Required when ticked it will indicate that this Stock Item must have a Serial number (or Batch number) entered for each item that is receipted from Inwards Goods. After entering them from Inwards Goods they will display in the Serials tab of the Stock Item. These Serial numbers will later be available to choose from when doing a Stock Pick or Stock Issue.

• Use Markup enables the Markup Percent field, where the % can be entered, and the Sell rate will be calculated based on the Default Cost Rate and populated based on this %. Sell field will not be editable. If Use Markup is not ticked, the Markup Percent is disabled, and the Sell value can be manually entered.

• Activity Code is the Activity that the item will use when being issued.

• Category Code is an optional categorisation using Stock Categories.

• Sub Category Code is an optional sub-categorisation using Stock Sub Categories, which depends on the above field being selected.

• Group Code is an optional broader categorisation using Stock Groups.

• Details is a space for further details or specifications about the stock item.

• Area, Weight and Volume, these fields can be enabled in the Quote module, using Grid management. They will only display on ‘At Cost Element’ Cost Sheets. The values are read only and will be populated for lines relating to stock items, by multiplying the Weight, Area and Volume by the line Quantity.

The location tab determines which Stock Locations are available to this stock item. You can denote specific rates and minimum/maximum quantities for each location.

For brand new items, where the business process allows to issue stock eventhough the receipts have not been processed yet (control parameter ‘Allow Negative Qty Stock’ = yes) a Location Cost Rate must be populated, as this will be the Cost Rate used when issueing stock from a Stock Location to a Job (from the Stock Movements/ Stock Issues batch). Once Purchase Orders start to be receipted the Cost rates on each location will be updated automatically by the system based on the Stock Cost Method selected (see control parameter 'Stock Cost Method').

Extension Columns tab uses a view called 'Web Portal', and any custum columns to capture relevant data to your business can be can be added to this view from the Extension Columns maintenance screen.

Next Steps:

Stock Issues can be used to request and issue stock items.

Purchasing Stock in units different to the Stock Item unit. This can be managed from the Purchase Catalogue, using the Stock Multiplier column.