Inventory questions, answered
Inventory in fiscal50 tracks the products you buy and sell. Vendor orders are bills that include products, and receiving one adds its products to Current Inventory. Sales orders are invoices that include products, with their shipping and payment status, and returns record what customers send back. The inventory dashboard and Current Inventory show what you have now, and item stock history shows every movement for one product. The inventory value and sales reports show what your stock is worth and what sold. These questions cover each of those screens.
- Inventory Dashboard
- Current Inventory
- Sales Orders
- Vendor Orders
- Inventory Value Report
- Sales Report
- Inventory Returns
- Item Stock History
Updated
Inventory Dashboard
What does the Inventory Dashboard show?
Orders waiting to be shipped or received, the size of your product catalog, your top five best sellers, a monthly stock in vs. stock out chart, and a table of every product with its quantities and prices.
Which fiscal year does the dashboard cover?
The fiscal year shown in its title, with figures as of the date shown underneath. The Stock In vs. Stock Out chart has its own Fiscal Year selector.
What does Orders to be shipped mean?
Customer orders for products that have not yet been marked as shipped.
What does Orders to be received mean?
Product purchases that have not yet been marked as received.
Current Inventory
What is the re-stock threshold?
The stock level at which you want to re-order a product. When stock runs down to this level, its Current Inventory cell turns red.
What does To be Shipped mean?
The quantity sold to customers that has not yet been shipped.
What does Pending (Yet to be received) mean?
The quantity bought from vendors that has not yet been received.
What appears on the Sales Orders screen?
Every customer invoice that includes products, with its shipping status, payment status, and any returns.
Can I download the list?
Yes. Click the Export button to download it as an Excel file.
Can I email the credit note to the customer?
Yes. Set Credit note email? to Yes in the return window before you click Save.
Vendor Orders
What appears on the Vendor Orders screen?
Every vendor bill that includes products, with whether its goods have been received.
What happens when I receive an order?
Its status changes to Received and its products are added to your Current Inventory.
Why is there no Receive Inventory button on some orders?
Those orders have already been received. The Action column shows a dash instead.
Can I receive an order on an earlier date?
Yes. Change the Date in the Receive Inventory window to the day the goods arrived.
Inventory Value Report
What does the Inventory Value Report show?
For each product, the total and available stock — as quantities and dollar values — along with the sales price and average unit cost.
What is the difference between Total Inventory and Available Inventory?
Total Inventory is all the stock of the product for the period. Available Inventory is the part still on hand.
What is the Average Unit Cost?
The average cost of one unit of the product.
What period does the report show when I open it?
The current year to date.
What does the Sales Report show?
For each product, the units sold, price per unit, total revenue, cost of goods sold, gross profit, and gross profit margin for the selected period.
What is COGS?
Cost of goods sold — what the units you sold cost you.
Why is a Gross Profit Margin over 100%?
The margin is measured against cost. If a product sells for well above what it cost you, the gross profit can be more than the cost itself — for example, $4,080.00 profit on a $1,020.00 cost is 400%.
Can I download the report?
Yes. Click the Export (Excel) button to download it as an Excel file.
Inventory Returns
What does the Inventory Returns report show?
Every product return recorded from customers, with the customer, the original invoice, the quantities ordered and returned, and the return type.
What is the difference between Total Quantity and Returned Quantity?
Total Quantity is how many units were on the original invoice. Returned Quantity is how many of them came back.
How do I find a particular return?
Type the customer name or invoice number in the Search box.
Can I sort the list?
Yes. Click the sort arrows next to any column heading.
Item Stock History
What does the Item Stock History report show?
Each product's total and available stock, as quantities and dollar values, with a full history of its stock movements.
What do the + and − signs mean?
A plus sign means stock was added, for example by a purchase or a normal return. A minus sign means stock was removed, for example by a sale.
What is an Opening Entry?
The stock you had when the product was first added to fiscal50.
Why did a product's available quantity go up without a purchase?
A customer return recorded as a Normal Return adds the returned units back to stock. Check the product's stock history for a Normal Return entry.
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