How To: Create a New Stock Item
Table Of Contents
Introduction
Creating a stock item is one of the first steps in setting up products within Khaos Control. Each stock item requires a unique stock code and must be assigned to a Stock Type.
While only a small number of fields are mandatory, completing additional stock information during setup can improve stock control, purchasing, pricing, reporting and order processing.
Before You Start
When creating a stock item, the following information is required:
- Stock Code
- Stock Type
You should also consider entering pricing, stock control and tax information to ensure the item is configured correctly.
Create a Stock Item
- Open a Stock screen.
- Press Ctrl + N or click New.
- Complete the required fields on the Stock | Detail | Properties tab.
General Information
| Field | Description |
|---|---|
| Stock Code (Required) | A unique code used to identify the stock item. |
| Description | A meaningful description of the product. |
| Stock Type (Required) | The Level 2 Stock Type used to categorise the item. |
Note: When the stock item is saved, Khaos Control automatically removes any leading or trailing spaces from the Stock Code.
Complete Pricing Information
The following fields are found in the Pricing section of the Stock | Detail | Properties tab.
| Field | Default Value | Description |
|---|---|---|
| Buy Price | 0 | The purchase cost of the item. |
| Sell Price | 0 | The standard selling price. |
| Sale Limit | 0 | Used to control sales quantity limits where applicable. |
| Stock Value | 0 | Used when calculating Cost of Sales (COS). |
| OvHds | 0 | Overhead value associated with the stock item. |
| Tax Portion | 100% | Defines the taxable portion of the item. |
| Reward Points | 0 | Reward points awarded when the item is sold. |
Complete Stock Control Information
The following fields are available in the Stock Control / Other section.
| Field | Default Value | Description |
|---|---|---|
| Safe Level | 0 | Target stock level used for reordering. |
| Min Level | 0 | Minimum acceptable stock level. |
| Reorder Period (d) | 0 | Reordering period in days. |
| Lead Time (d) | 1 | Expected supplier lead time. |
| Reorder (q) | 1 | Recommended reorder quantity. |
| Buffer Level (d) | 0 | Additional stock buffer period. |
| Avg. Weight | 0 | Average item weight. |
| Min Reorder (q) | 0 | Minimum reorder quantity. |
| Reorder Point (d) | 0 | Stock level at which reordering should begin. |
| Reorder Multiple | 0 | Quantity multiple used when reordering. |
| Picking Order | 000 | Used to determine picking sequence. |
| Launch Date | Blank | Product launch date. |
| Launch Time | Blank | Product launch time. |
| Postage Weight | 0 | Weight used for delivery calculations. |
| Location | Blank | Warehouse or storage location. |
For further information about average weights, see Average Weight.
Configure Additional Options
Open the Stock | Detail | Options tab and review the following settings.
| Setting | Default Value | Description |
|---|---|---|
| Stock Controlled | Ticked | Enables stock quantity tracking. |
| Automatic Quality Check | Ticked | Applies automatic quality control checks where configured. |
| Publish on Web | Ticked | Makes the item available for website publishing where applicable. |
Review Tax Settings
Open the Stock | Detail | Accounting tab.
Base Tax Rate
By default, the tax rate is inherited from the selected Stock Type.
This setting determines the VAT rate used when the item is purchased or sold.
Save the Stock Item
Once you have entered the required information:
- Press Ctrl + S, or
- Click Save.
The stock item will now be available for use throughout Khaos Control.
Tips
- Use clear and meaningful stock codes to make products easier to find.
- Complete pricing and stock control information during setup to improve reporting and reordering accuracy.
- Review the default settings on the Options and Accounting tabs before saving.
- Add weights and dimensions where appropriate to improve postage calculations.
- Assign the correct Stock Type, as this affects reporting, pricing and various system processes.
Additional Information
- Only the Stock Code and Stock Type fields are mandatory when creating a stock item.
- Most stock control and pricing values can be updated later if required.
- The selected Stock Type may automatically apply default settings such as tax codes and classifications.
- Stock items can also be enhanced using User Defined Attributes (UDAs), website information, supplier details and structured pricing.