Creating a Batch Item

Introduction

An Item refers to a product or service that you intend to sell in your retail store. The item master encompasses all the configurable details for the item, including its type, cost, retail price, barcode, and more.

The term "Item" also applies to raw materials or components of products that have yet to be produced and sold to customers. iVendNext enables you to manage various types of items, such as raw materials, sub-assemblies, finished goods, item variants, and service items. iVendNext allows you to create the following item types:

• Standard

• Variant

• Serial

• Batch

• Bundle

For the purpose of this article we will focus on the steps to create a Batch Item.

A Batch Item refers to a product that is managed and tracked in groups or batches rather than individually. Each batch has a unique identifier and is associated with specific attributes such as production date, expiration date, and other relevant details.

Prerequisites

Before creating a Batch item, it is recommended to first set up the following:

• Item Group

• Warehouse

• Unit of Measure

Creating a Batch Item

Creating a Batch Item in iVendNext involves a few key steps. Here's a simplified guide to help you get started:

• Access the Retail module

• Navigate to the Item List View Screen

• Click the Add Item button

• Specify an Item Code

• Enter the Item Name

• Select an Item Group to categorize your item

• Select the Default Unit of Measure

• Set the Standard Selling Rate

• Set the Standard Buying Rate

• Enable Batch Number

• Specify the Batch Number Series

• Save the Item

• Access the Inventory Module

• Navigate to the Batch Number List View Screen

• View Batch Number

Important Points

The Item Name will auto-fill with the same value as the Item Code when you click inside the Item Name field.

You must procure the Item before you can set it at the Point of Sale (POS)

The default Price List for buying an item is typically set to "Standard Buying". This can be configured in the Buying Settings under the "Default Buying Price List" option

The default Price List for selling an Item is typically set to "Standard Selling". This can be configured in the Selling Settings under the "Default Selling Price List" option

The valuation rate is the cost at which inventory is valued in your accounting records. It reflects the actual cost of acquiring or producing the goods.

The standard selling rate is the fixed price at which a product is offered to customers. It is often set as a benchmark or default price for sales transactions.

The standard buying rate is the typical or agreed-upon price at which a product is purchased from suppliers. It is often used as a benchmark for procurement.