Opening stock

Opening stock gives a warehouse the quantities and costs it starts with. Use it once per item and warehouse, when you start using Infotech POS or open a new branch. After that, stock comes in through purchases and changes through adjustments and stock counts.

Opening stock is part of the Inventory add-on. Open it from Inventory Management › Warehouse Management › Opening stock.

How an opening stock document works

Each line has a Quantity and a Unit cost. The cost becomes the item's starting average cost, so stock value and profit are right from the first sale.

Enter opening stock by hand

1. Click New opening stock.
2. Choose the Warehouse.
3. Add items with the search box at the top: type part of the name, SKU, code or barcode, or scan a barcode. Several words narrow the search, for example shirt green m. A product with several variants lists each combination with its own SKU, barcode and stock.
4. For each line, enter the Quantity and the Unit cost. The Value is worked out for you.
5. Add a Note if you like (optional).
6. Click Save draft to finish later, or Post to add the stock now.

The Summary on the right shows the number of Items and the total Stock value.

Note: the unit cost is per unit of the line's SKU. If you sell a drink both as a single can and as a box of 24, and you enter the box SKU, the cost is for the whole box.

Import from Excel

For a shop with hundreds of items, import a spreadsheet instead.

1. On the Opening stock list, choose the warehouse in the Warehouse filter.
2. Click Import from Excel. You can download a sample file there.
3. Fill in one row per item with the columns SKU or barcode, Quantity and Unit cost. An empty unit cost uses the item's purchase price.
4. Upload the file.

The rows become a draft, which opens so you can check it before posting. If any row is wrong, nothing is saved and the error names the row (for example Row 4: …), so you can fix the file and import it again.

Example

A supermarket opens a second branch. The manager counts the new shelves, fills the three columns of the sample file and imports the sheet into the new warehouse. They check the draft, correct two quantities on screen and click Post.

When posting is refused

Opening stock is only for items that have no other stock movements in that warehouse yet. If an item has already been sold, bought or moved there, posting is refused, because a starting quantity would rewrite its history. Use a purchase or a correction for that item instead.

Void opening stock

If a posted document was wrong, open it and click Void, then give a reason. The stock is taken out again (Voided: the stock was taken out). Voiding is refused once some of that stock was sold or moved; correct it with an adjustment or a stock count instead.

To throw away a draft, open it and click Delete draft.

Find documents

The list shows each document's Number, Status, Warehouse, Date, Items, Quantity, Value and Created by. Filter by Warehouse and Status (Draft, Posted, Voided), or search by number, note, item or barcode. Each document also has a History of who saved, posted or voided it.

Staff see only the warehouses they are assigned to.

Related pages

• Stock on hand and the stock ledger
• Purchases
• Import and export products