Create A New Stock Item In Acumatica ERP
Creating a stock item is important for businesses. Stock items are the backbone of inventory management, allowing businesses to keep track of the products they have in stock, where they are located, and how much of each item they have on hand. Through creating stock items and setting default purchase prices, businesses can better manage their costs. This is usually achieved by negotiating better prices with suppliers and making informed decisions about when to reorder stock. Additionally, setting default selling prices for stock items can help ensure that the business is pricing its products appropriately to cover costs and make a profit.
Acumatica is an Enterprise Resource Planning (ERP) software solution used to streamline business operations and improve efficiency. Businesses can centralize their data in one place, which makes it easier to make decisions and track progress using Acumatica.
Stock items allow businesses to generate reports and analyze their inventory data more easily. This can help identify trends, track sales performance, and identify areas where the business can improve. By creating stock items with standardized descriptions, SKUs, and other attributes, businesses can ensure that their inventory is consistent and easily identifiable. Overall, creating stock items is an essential part of effective inventory management, cost control, and reporting for businesses of all sizes.
Steps To Create A New Stock Item In Acumatica
Here are 5 easy steps to quickly create a stock item in Acumatica:
- Navigate to the Stock Items screen (Inventory > Stock Items). Click on the Add New Stock Item button to create a new item. In the General Settings tab, enter the item code, description, and other relevant information about the item.
- In the Stock Item Defaults tab, enter the default values for the item’s purchase and sales settings. The settings options include the default vendor, unit cost, and selling price.
- In the Warehouse Settings tab, enter the default values for the item’s stock settings at each site where the item will be stocked. This includes options such as the default stock quantity, minimum stock level, and maximum stock level.
- In the Warehouse Details tab, enter the specific warehouse details for the item, such as the bin locations and default pick priority. In the Attributes tab, you can add additional attributes to the item. This may include attributes such as color, size, or other custom attributes that are relevant to your business.
- Once you have entered all the necessary information, click on the Save button to save the new stock item. You access this by going back to your stock item list and typing in your item name in the sub-search option. Thus, the stock item has become part of your system.
Did this blog help you? You can also watch video on how to create stock item in Acumatica, on our YouTube Channel. Feel free to reach out to us if you have any questions.
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