Creating a Bundle 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 Bundle Item.
A Bundle 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 Bundle item, it is recommended to first set up the following:
Parent Item
Child Item
Creating a Bundle Item
Creating a Bundle 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
Untick Maintain Stock
Access Product Bundle
Select Parent Item
Add Child Items
Specify Quantity of Child Items
Save the Item
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.
The "Parent Item" is a virtual product unlike the “Child Items”. Therefore the stock is maintained for the “Child Items”.
Is Product Bundle and a Kit the same thing in iVendNext?
Yes, in iVendNext, a Product Bundle and a Kit essentially refer to the same concept. Both terms describe a collection of items that are grouped together and sold as a single unit.
This is particularly useful for managing inventory and sales of complex products that consist of multiple components.
For example, if you're selling a smartphone, you might bundle it with a charger, cable, and earphones. This bundle ensures that all components are tracked and managed together, simplifying the sales and inventory processes.
