Item
An Item is a product or a service offered by your company.
Item in iVendNext refers to the product that you intend to sell in your Retail Store. The product master contains all the configurable details for the item ranging from its type, cost, retail price, barcode,etc.
The term Item is also applicable to raw materials or components of products yet to be produced (before they can be sold to customers). iVendNext allows you to manage all sorts of items like raw-materials, sub-assemblies, finished goods, item variants, and service items.
iVendNext is optimized for itemized management of your sales and purchase. If you are in services, you can create an Item for each service that you offer. Completing the Item Master is very essential for the successful implementation of iVendNext.
To access the Item list, go to: Home > Stock > Items and Pricing > Item
Prerequisites
Before creating an item, it is advised that you create the following first:
Steps to create a new Item
The steps to create a new item in iVendNext are summarized below:
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
Select the Default Unit of Measure
Click the Save button
New Item Screen Explained
The New Item screen is split into the following sections. Each section contains information specific to the section it corresponds to.
Details Section
Inventory Section
Accounting Section
Purchasing Section
Sales Section
Tax Section
Quality Section
Manufacturing Section
Surcharge Section
Cross Selling Section
The Details Section
This section of the New Item screen includes basic information about the item. For example, Item Name, Item Group, Default Units of Measure, etc.
The various fields in the Details section are explained below:
Series
Select a prefix for the item. iVendNext allows you to give prefixes to your Masters and transactions with each prefix forming its own series. For example, a series with prefix INV12#### will have numbers INV120001, INV120002, and so on.
Item Name
Specify the Item Name. Click on the Item Name text field to type your desired item name.
Item Group
Specify the Item Group to which the Item belongs. Before creating an Item, you would have already defined an Item Group. In case you haven’t you can click on the Item Group textbox to select an Item Group from the list of Item Groups displayed or choose to create a New Item Group by clicking on the Create a New Item Group. This field is mandatory.
Default Units of Measure
Specify the Default Unit of Measure. A UoM is a unit using which an Item is measured. You can either select a Default Unit of Measure from the drop down list displayed or choose to create a new Default Unit of Measure by clicking on the Create a new UOM option. This field is mandatory.
Returnable
Check this box if you want to allow the product to be returnable. This will allow the customer to return the product sold at the POS Terminal.
Disabled
Check this box if you don’t want to allow the product to be sold at the POS Terminal.
Allow Alternative Item
Check this box if you don’t want the system to suggest an alternative product in case the original product requested is out of stock.
Has Variants
Check this box if this product has variants. A Variant Product is a product that is mapped to a parent product and has an attribute, or a set of attributes attached to them. Some examples of attributes would be colour, size, style, weave, etc. You will not be able to select an item in the sales order if the item has variants.
When the “Has Variants” checkbox is ticked, an additional “Variants” section is activated and is visible on the New Item screen.
Variant Based On
Select the Variant Based On value from the drop down list. This will determine the basis on which the item variants were created. You can create variants based on some attribute like colour, size, etc or based on the brand (manufacturer)
Variant Attributes
Use the Variant Attributes Template to configure and manage all the settings pertaining to item variants.
Variant Of
Select the Parent Item from the drop down list or choose to create a new Parent Item by clicking on the create a new item option. If an item is a variant of another item then description, image, pricing, taxes etc will be set from the template unless explicitly specified.
Attribute
Select the Attribute from the drop down list or choose to create a new Attribute by clicking on the create a new Attribute option. For example, Size, Colour, etc
Attribute Value
Select the Attribute Value from the drop down list or choose to create a new Attribute Value by clicking on the create a new Attribute option. For example, S, M, L, Red, Green, Blue, etc You can create new item attributes using the item attribute screen.
Is Weighted Item
Check this box if this item is a weighted item. A weighted item can be measured on a weighing scale in weighing units of measure. For example - Gram (g), Kilogram (kg), Ounce (oz), Pound (lb), etc
Is Gift Card
Check this box if this item is a gift card item. Gift Cards can be used as a payment type in sales and refund transactions. Depending on the customer's preference, it can either be redeemed partially or in full. Sometimes Gift cards are also used as store credit.
When the “Is Gift Card” checkbox is ticked, an additional “Gift Card Detail” section is activated and is visible on the New Item screen.
Use as Store Credit
Check this box if you want to allow the gift cards to be used as the Store Credit. The store credit comes handy in situations when the store does not return cash to the customer for the refunds and instead wants them to buy more items for the value of the returned item.
Cashback
Check this box if you want to enable cashback on Gift Cards. This means that the gift card holder gets a certain percentage of each purchase made back as credit.
Recharge
Check this box if you want to allow the cashier to be able to recharge the gift card at the POS.
Open Price
Check this box if you want to allow the cashier to be able to specify the price of the gift card at the POS during the sale.
Must Swipe Card
Check this box if you want the cashier to swipe the gift card while collecting the payment using the Gift Card as the mode of payment. This way the cashier will not be required to manually type in the Gift Card number at the POS terminal.
Allow Multiple Redemptions
Check this box if you want to allow the Gift Card to be redeemed multiple times. This will allow the Gift Card holder to make multiple purchases over time using the same Gift Card.
Opening Stock
Specify the Opening Stock of the item. Opening Stock is the opening quantity of the product by stores
Valuation Rate
Specify the Valuation Rate of the item. There are two options to maintain valuation of stock. These are: FIFO (first in - first out) and Moving Average.
Standard Selling Rate
Specify the Selling Rate of the item. It is the price at which an item is sold at the POS Terminal.
Is Fixed Asset
Check this box if the item is a Fixed Asset. These are usually those items that the Retail Business buys and is expected to own them for at least a year or more.
The Inventory Section
This section of the New Item screen includes information related to the inventory. For example, Shelf Life in Days, Item Barcodes, UOM etc
The various fields in the Inventory section are explained below:
Shelf Life In Days
Specify the Shelf Life of the Item in Days. Batch Controlled Items will generally carry a shelf life. Shelf Life is the number of days after which product batch will be unusable. For example, medicines.
End of Life
Specify the End of Life date. Batch Controlled Items usually carry an expiry date (best by date / use before date). Clicking on the End of Life field pops up a calendar that allows you to pick a date.
Default Material Request Type
Select the Default Material Request Type from the drop down list. Your options are: Purchase, Material Transfer, Material Issue, Manufacture, and Customer Provided.
Valuation Method
Select the Valuation Method from the drop down list. Your options are: FIFO (first in - first out), Moving Average, and LIFO (last in - last out).
Warranty Period (in days)
Specify the Warranty Period of the Item in Days. A warranty period is a time period in which a purchased product may be returned or exchanged.
Weight Per Unit
Specify the Weight Per Unit of the item. It is referred to as the physical quantity representing the weight per unit volume of a material.
Weight UOM
Specify the Weight UOM of the item. Typical examples of Weight UOM are: kilograms (kg), pounds (lb), or ounces (oz). This is common for food / consumable items like pulses, cereals, flour etc.
Allow Negative Stock
Check this box if you want the cashier to be able to sell the items even if they are not showing up in the system inventory. (This field is mandatory)
Barcodes
Use the Barcodes Template to configure and manage all the barcode related settings. You will have to click the Add Row button to add a row to the Barcodes Template. Click on the Pencil symbol under the Gear icon to open the Editing Row screen. On the Editing Row screen you can specify the required information.
Barcode
This is a text field that lets you specify a Barcode for the item. This field is mandatory.
Barcode Type
Select the Barcode Type. This is a drop down field and lets you pick a Barcode Type from the drop down list.
UOM
Specify the UOM. You can either select a UOM from the list of UOMs displayed or choose to create a new UOM by clicking on the Create a new UOM option. A UoM is a unit using which an Item is measured.
The Inventory Section is further divided into the following Subsections:
Auto re-order
Use the Auto Reorder template to configure and manage all the settings pertaining to minimum inventory level. You can set the application to automatically request inventory when the minimum inventory level is reached. You will have to click on the Add Row button displayed below the Auto Reorder Template to add a new blank row. Click on the Pencil symbol under the Gear icon to open the Editing Row screen. On the Editing Row screen you can specify the required information.
Check in (group)
Select the Check In group from the drop down list. This is the Warehouse where the incoming inventory (item) is kept and recorded. Select the Check In (group) Warehouse from the drop down list or choose to create a new Check In (group) Warehouse by clicking on the Create a new Warehouse option.
Request for
Select the Request For Warehouse from the drop down list. This is the Warehouse that will stock the reordered items. Select the Request For Warehouse from the drop down list or choose to create a new Request For Warehouse by clicking on the Create a new Warehouse option.
Reorder Level
Specify the Reorder Level. Reorder Quantity / Level lets you specify the stock level of the product at which you should replenish the product in a particular store. When this quantity is reached, the reorder will be triggered. Re-order level can be determined based on the lead time and the average daily
Re-order Qty
Specify the Reorder Quantity. The number of units to be reordered so that the sum of ordering cost and holding cost is at its minimum. The re-order quantity is based on the 'Minimum Order Qty' specified by the supplier and many other factors.
Material Request Type
Select the Material Request Type from the drop down list. This depends whether you buy the Item, manufacture it yourself or transfer it between warehouses.
Units of Measure
Use the Units of Measure Template to configure and manage all the settings pertaining to item UOMs. You will have to click on the Add Row button displayed below the Units of Measure Template to add a new blank row. Click on the Pencil symbol under the Gear icon to open the Editing Row screen. On the Editing Row screen you can specify the required information.
UOM
Select the UOM from the drop down list or choose to create a new UOM by clicking on the Create a new UOM option. A UoM is a unit using which an Item is measured.
Conversion Factor
Specify the Conversion Factor. The actual conversion rates are stored in a document called 'UoM Conversion Factor'. If you add new UOMs and plan to use it in transactions where it'll be converted to other UOMs, it is advised that you add it to this UOM Conversion Factor document. For example, here 1 Kg is approximately 2.2 Pounds
Has Batch No
Check this box if the item is of the type batch. These types of items are batch controlled. For example, all pharmaceutical and food/beverage products are batch tracked. On receipt of these items batch information needs to be entered and can include manufacture/expiry dates, price etc. Unlike Serial Numbers, more than 1 of each item can have the same batch number.
Automatically Create New Batch
Check this box if you want the application to automatically create batch items. If the series is set and Batch No is not mentioned in transactions, then an automatic batch number will be created based on this series. If you always want to explicitly mention Batch No for this item, leave this blank. Note: this setting will take priority over the Naming Series Prefix in Stock Settings. This field is visible only when the "Has Batch No" checkbox is ticked.
Has Expiry Date
Check this box if you want to make specifying the expiry date for a batch-controlled item mandatory in the system. This field is visible only when the "Has Batch No" checkbox is ticked.
Retain Sample
Check this box if you want to retain a sample of batch items. This field is visible only when the "Has Batch No" checkbox is ticked.
Has Serial No
Check this box if the item is of the type serial. These types of items are serial controlled. For example, all electronic items are serial controlled. A Serial Number is required when receiving items into stock or when selling an item to customers. Each Serial Number is unique for an item.
Has Serial No Expiry
Check this box if you want to make specifying the expiry date for a serial-controlled item mandatory in the system.
Serial Number Series
Specify the Document Number Series for the items with serial numbers. If the series is set and Serial No is not mentioned in transactions, then an automatic serial number will be created based on this series. If you always want to explicitly mention Serial Nos for this item. leave this blank.
The Accounting Section
This section of the New Item screen includes information related to accounts.
Enable Deferred Expense
Check this box, to enable deferred expense from the item. Deferred expense is an expense incurred by the business in the current period but the corresponding goods, products and services are yet to be consumed. Once you tick the checkbox, you'll see options to set the Deferred Expense Account and the number of months through which the expense is deferred.
No of Months (Expense)
Specify the number of months through which the expense is deferred. This field is visible only when the “Enable Deferred Expense” checkbox is ticked.
Enable Deferred Revenue
Check this box, to enable deferred revenue from the item. Deferred revenue is the amount received by the business for goods, products and services that is yet to be delivered. Once you tick the checkbox, you'll see options to set the Deferred Revenue Account and the number of months through which the revenue is deferred.
No of Months (Revenue)
Specify the number of months through which the revenue is deferred. This field is visible only when the “Enable Deferred Revenue” checkbox is ticked.
Item Defaults
Use the Auto Reorder template to configure and manage the item defaults. You will have to click on the Add Row button displayed below the Item Defaults Template to add a new blank row. Click on the Pencil symbol under the Gear icon to open the Editing Row screen. On the Editing Row screen you can specify the required information.
Company
Select the Company name from the drop down list. This field is mandatory.
Default Warehouse
Select the Warehouse from the list of warehouses displayed or choose to create a new Warehouse by clicking on the Create a new Warehouse shortcut. This is the Warehouse that is automatically selected in your transactions with this item.
Default Price List
Select the Price List from the list of Price Lists displayed or choose to create a new Price List by clicking on the Create a new Price List shortcut. A Price List is a collection of Item Prices either Selling, Buying, or both. An Item can have multiple prices based on customer, currency, region, shipping cost, etc
Default Discount Account
Select the Default Discount Account from the drop down list or choose to create a new Discount Account by clicking on the Create a new Account option. The amount given or received as a discount is recorded under this account.
Default Buying Cost Center
Select the Default Buying Cost Center from the drop down list or choose to create a new Buying Cost Center by clicking on the Create a new Cost Center option. All the cost incurred in buying items is recorded under this account.
Default Supplier
Select the Default Supplier from the drop down list or choose to create a new Supplier by clicking on the Create a new Supplier option. A Supplier can either be a person or a business that supplies goods or services and serves a unique role in the supply chain. If a default supplier is set, this supplier will be selected for new purchase transactions.
Default Expense Account
Select the Default Expense Account from the drop down list or choose to create a new Expense Account by clicking on the Create a new Account option. It is the account in which the cost of the Item will be debited. The amount incurred as an expense is recorded under this account.
Default Provisional Account
Select the Default Provisional Account from the drop down list or choose to create a new Provisional Account by clicking on the Create a new Account option. The amount incurred on purchases made on a particular date is recorded under this account.
Default Selling Cost Center
Select the Default Selling Cost Center from the drop down list or choose to create a new Selling Cost Center by clicking on the Create a new Cost Center option. All the cost incurred in selling items is recorded under this account.
Default Income Account
Select the Default Income Account from the drop down list or choose to create a new Income Account by clicking on the Create a new Account option. It is the account in which income from selling the Item will be credited. The amount earned on sales made on a particular date is recorded under this account.
The Purchasing Section
This section of the New Item screen includes information related to purchases. For example, Default Purchase Unit of Measure, Lead Time, etc
Default Purchase Unit of Measure
Select the Purchase UOM from the drop down list or choose to create a new Purchase UOM by clicking on the Create a new UOM option. A UoM is a unit using which an Item is measured. This is the default UoM that will be used in Purchase transactions.
Minimum Order Qty
Specify the Minimum Order Quantity. Minimum quantity should be as per Stock UOM.
Safety Stock
Specify the Safety Stock. “Safety Stock” is used in the report “Item Wise Recommended Reorder Level”. Based on Safety Stock, average daily consumption and the lead time, the system suggests Reorder Level of an item. Reorder Level = Safety Stock + (Average Daily Consumption * Lead Time)
Allow Purchase
Check this box to allow purchase of this item.
Lead Time in days
Specify the Lead Time in days. This is the average time taken by the supplier to deliver the items.
Is Customer Provided Item
Check this box if Item is provided by a customer and received through Stock Entry > Material Receipt. If Checked, the Customer field is Mandatory as the default customer for Material Request.
Customer
Select the customer name from the drop down list or choose to create a new customer by clicking on the Create a New Customer option. This field is visible only when the "Is Customer Provided Item" checkbox is ticked.
Delivered by Supplier (Drop Ship)
Check this box if you want the item to be directly delivered by the Supplier to the Customer.
Supplier Items
Use this template to capture details pertaining to supplier provided items. For example, Supplier’s Name, Item Part Number, etc. You will have to click on the Add Row button displayed below the Supplier Item Template to add a new blank row. Click on the Pencil symbol under the Gear icon to open the Editing Row screen. On the Editing Row screen you can specify the required information.
Supplier
Select the Supplier from the drop down list or choose to create a new Supplier by clicking on the Create a new Supplier option. A Supplier can either be a person or a business that supplies goods or services and serves a unique role in the supply chain. If a default supplier is set, this supplier will be selected for new purchase transactions.
Supplier Part Number
This refers to the part number of the item supplied by the supplier. Specify the Supplier Part Number if not fetched automatically.
Country of Origin
Select the Country of Origin from the drop down list or choose to create a new country by clicking on the option Create a new Country. This is the country where the item was manufactured.
Customs Tariff Number
Select the Customs Tariff Number from the drop down list or choose to create a new Custom Tariff Number by clicking on the option Create a new Custom Tariff Number option.
The Sales Section
This section of the New Item screen includes information related to sales. For example, Default Sales Unit of Measure, Maximum Discount, etc
Default Sales Unit of Measure
Select the Default Sales Unit of Measure from the drop down list or choose to create a new Sales Unit of Measure by clicking on the Create a new UOM option. A UoM is a unit using which an Item is measured. The default UoM that will be used in Sale transactions.
Grant Commission
Check this box if you want a commission to be given/granted to the Sales Person and Sales Partner when this item is sold. If disabled, the sales generated by this item will be ignored in the calculation of commission.
Allow Sales
Check this box if you want the cashier to be able to use this item in sale transactions. If unticked, you won't be able to use this item in sales transactions.
Max Discount (%)
Specify the maximum discount in % to be applied to an item. Eg: if you set 20%, you cannot sell this item with a discount greater than 20%. You will have to click on the Add Row button displayed below the Customer Items Template to add a new blank row. Click on the Pencil symbol under the Gear icon to open the Editing Row screen. On the Editing Row screen you can specify the required information.
Customer Name
Select the Customer from the drop down list or choose to create a new Customer by clicking on the Create a new Customer option.
Customer Group
Specify the Customer Group the Customer is part of. Select the Customer Group from the drop down list or choose to create a new Customer Group by clicking on the Create a new Customer Group option.
Ref Code
Specify the Customer's Reference Code. This is the number assigned by the Customer to this item for easy identification. You can use the Customer's Reference Code to track the Item.
The Tax Section
This section of the New Item screen includes information related to sales. For example, Item Tax Template, Tax Validity Period, Minimum Tax Rate, Maximum Tax Rate, etc You will have to click on the Add Row button displayed below the Tax Template to add a new blank row. Click on the Pencil symbol under the Gear icon to open the Editing Row screen. On the Editing Row screen you can specify the required information.
On the Editing Row screen you can specify the required information.
Item Tax Template
Select the Item Tax Template from the drop down list or choose to create a new Tax Template by clicking on the create a new Tax Template option. This is required only if a particular Item has a different tax rate than the rate defined in the standard tax Account.
Tax Category
Select the Tax Category from the drop down list or choose to create a new Tax Category by clicking on the create a new Tax Category option. A Tax Category allows applying one or more Tax Rules to transactions based on various criteria. A Tax category can be linked to one or more Tax Rules. It can be assigned to a Customer or a Supplier, so when that Customer or Supplier is selected, the Tax Category will be fetched automatically.
Valid From
Select the Valid From date from the calendar pop up screen. This date signifies the tax start date.
Minimum Net Rate
Specify the Minimum Net Tax Rate.
Maximum Net Rate
Specify the Maximum Net Tax Rate.
The Quality Section
This section of the New Item screen includes information related to quality inspection of an item purchased or delivered. For example, Quality Inspection Templates, etc.
Inspection Required before Purchase
Check this box if an inspection is mandatory before the item is purchased, i.e., before you generate a Purchase Receipt, tick this checkbox.
Quality Inspection Template
Select the Quality Inspection Template from the drop down list or choose to create a new Quality Inspection Template by clicking on the Create a new Quality Inspection Template. If a Quality Inspection is prepared for this Item, then this template of criteria will automatically be updated in the Quality Inspection table of the Quality Inspection. Examples of Criteria are: Weight, Length, Finish, etc.
Inspection Required before Delivery
Check this box if an inspection is required at the time of delivery from your Supplier is mandatory for this Item, tick this checkbox. That is, before you generate a Delivery Note.
The Manufacturing Section
This section of the New Item screen includes information related to item manufacturing.
Include Item In Manufacturing
Check this box if this is for raw material Items that'll be used to create finished goods. If the Item is an additional service like 'washing' that'll be used in the BOM, keep this unchecked.
Supply Raw Materials for Purchase
Check this box if you're subcontracting to a vendor, you can choose to provide them with the raw materials to manufacture the item using the default BOM.
The Surcharge Section
This section of the New Item screen includes information related to Surcharges. Surcharge is the extra fee that the customer pays when purchasing an item at the POS terminal. It can be a fixed amount or a percentage of the sale. For example, Freight, Handling Charges, Gift Wrapping, etc. You will have to click on the Add Row button displayed below the Surcharge List Template to add a new blank row. Click on the Pencil symbol under the Gear icon to open the Editing Row screen.
On the Editing Row screen you can specify the required information.
Surcharge
Select the Surcharge from the drop down list. Surcharge is the extra fee that the customer pays when purchasing an item at the POS terminal. It can be a fixed amount or a percentage of the sale. For example, Freight, Handling Charges, Gift Wrapping, etc.
Type
Select the Surcharge Type from the drop down list. The Surcharge Type determines if the Surcharge would be applied on a Sale or a Sale Return.
The Cross Selling Section
This section of the New Item screen includes information related to Cross Selling. You will have to click on the Add Row button displayed below the Cross Selling Product Details Template to add a new blank row. Click on the Pencil symbol under the Gear icon to open the Editing Row screen.
On the Editing Row screen you can specify the required information.
Item
Select the Item from the drop down list or choose to create a new Item by clicking on the create a new Item option. This is the item that is being sold as a complementary item or an additional item.
Qty
Specify the quantity of the Item being cross sold.
Price Type
Select the Price Type from the drop down list. You can stick to system generated prices or can choose to define a custom price.
Price
Define a custom price for the upsell item. This field is visible only when you select the option "Price" in the Price Type drop down above.
Discount Type
Select the Discount Type from the drop down list. This field lets you decide the Discount Amount or the Discount Percentage.
Discount
Specify the Discount Amount or the Discount Percentage. The value in this field relies upon the option selected in the Discount Type drop down.
Auto add to Transaction
Check this box if you want the upsell item to be added automatically in the transaction grid.