Pearl will keep on top of all your stock control requirements. 

To manage stock levels for a product, make sure the "manage stock control" for the item is set to "yes".

Pearl helps you keep track of stock quantity and value. Pearl also keeps track of stock (asset) owned in multiple warehouse locations, including stock in transit. 

Processes that add stock

1. Creating a Purchase Order then receiving the stock for it
2. Creating a Sale Order with negative stock quantities and posting to accounts or clicking "update stock"
   
3. Using the manual stock adjust screen

Creating an order for stock adjustments

If a customer is returning one item for another you need to create a sale order on the system to reflect this. It may not have a total value, but must be done for stock control purposes.

Stock valuation

Stock is valued using the price actually paid, exluding tax.

When stock on a Purchase Order is received, the cost value as shown for each item on the Purchase Order is entered into the stock database. If an invoice has not been entered yet for this Purchase Order, then this cost is only provisional. When the invoice is later received for the Purchase Order, Pearl will update the cost value of each remaining item in the database and mark the prices as confirmed.

When a supplier invoice is allocated against a Purchase Order before stock is received, then the items are marked as "stock in transit", with confirmed prices. Pearl says that since you have received the invoice, you own the stock but it is not yet in your posession. When the stock is received, it is transferred from "stock in transit" to the relevant warehouse location.

Note that the stock code in your database (1001) is only affected when you receive a Purchase Invoice against a Purchase Order and items on the order are set to code 1001. Most users of Pearl will receive Purchase Invoices using a code between 5000 and 5999 (Purchases) and at the end of the month will do a stock take to show a month end closing stock value. Any difference in stock value since the last month end should be transferred from a Cost Of Goods Sold account (usually 5005) into or out of the 1001 stock code. Please see your accountant for more information.

First-in-first out

Each stock item purchased has a value, and this value may vary between Purchase Orders so items are tracked by the date they arrive. The oldest items are sold first (First In First Out - FIFO). 

Viewing current stock levels

To view a list of ALL your current stock and it's value, click Products->Stock report from the main menu.  

To see if a particular item is in stock, search for the product using the products quick search box. Existing stock quantity will be shown, less any allocated stock, giving a "stock on hand" figure.

Stock allocation

Stock can be allocated to orders before it is actually updated. This is effectively reserving the stock without removing it from the system.

To allocate stock to an order, open the order and enter figures into the "allocate" column in the Products tab. Clicking the "allocate all" will copy the order qty to the allocate qty. Click Save. Pearl will attempt to allocate as much stock to the order as it can, but if there are other orders with allocated stock, or there is insufficient stock on hand, then the quantity allocated may be less than the quantity on order.

Note: Orders placed on the website either allocate all stock (regardless of what is available) or do not allocate stock at all. To choose which, use Setup->Payment methods from the main menu.

You can choose to prevent updates of orders where stock is not fully allocated: Visit Setup->Company defaults from the main menu and use the "Allow processing of unallocated orders" option in the Finance/Stock control tab. This will allow a user to edit the order, but not change or update the status.

The orders list (Sales->Any status) shows the allocation status: a green tick is fully allocated, a red tick is not allocated, and a blue tick is partially allocated.  The sales list also shows whether there are enough items on hand to ship the order, regardless of the allocation status; a green item is OK and a red item is not OK.

You may choose not to use stock allocation, it is optional.

Once you have just received stock from a Purchase Order, Pearl can run through all un-posted sales orders and attempt to automatically allocate the recently received stock. See the Sales->Stock allocation screen.

To view which orders a certain stock item allocated on, search for the item using the products quick search box then click on the number allocated.

Adjusting stock mid-sale: a variant of a bundle

If you wish to sell a bundle, but switch one of the subproducts for another. Add the original bundle to the order, but also enter two adjusting lines to the order. For example:

    -1 Monitor X

and add another line

     1 Monitor Y

Add any price adjustment if required.

Stock is only removed from the system when the sale is posted to accounts. Prior to this point, stock will be set to "allocated".