How to manage stocks in Inventory

In this documentation, we will cover how to manage stocks in Inventory.

Inventory Workflow

Create product → Purchase product stock from vendor → Edit stock product details (optional) → Sell your stock → Re-stock

If you have are unable to create categories and products, please take help from this doc.

Adding stock to the inventory

You can either buy the stock from the vendor on credit or payment.

To buy on Credit,

  1. Go to WP Dashboard → WP ERP → Accounting → Expenses and click on Vendor Credit
  2. Pick a vendor (Billing address will be auto added), Due and Issue date.
  3. Add reference number
  4. Select the product you created from the inventory. The tax rates, description, and other details will be added automatically.
  5. Enter the number of products you want to stock in the Quantity field (Qty).
  6. Now Submit of Approval or draft the invoice.

Now, navigate to WP Admin Dashboard → WP ERP → Accounting → Expenses

Click on the Approve button below the newly created vendor credit.

To buy on Payment,

  1. Go to WP Dashboard → WP ERP → Accounting → Expenses and click on Payment Voucher
  2. Select the account you want to make the payment from.
  3. Select the vendor and the product from the list. Modify discount and tax if necessary.
  4. Add a unique invoice number.
  5. Click add payment when done.

erp-inventory-voucher-create-invoice 02

Checking Inventory Stocks

To view if the stock has been added to the products, navigate to – WP Admin Dashboard → WP ERP → Accounting → Inventory

You will notice all the products now has stock as you have added from vendor credit or payment.

You can also click on specific products to view their Stock from a new section titled ‘Stock available' which has been added.

Selling from stock

  1. Go to WP Admin Dashboard → WP ERP → Sales → Payment or Invoice
  2. Choose the customer and deposit to (the account where you want the money to be entried) from the drop-down menu and enter a receive date.
  3. Select the product and input the quantity. Discounts are optional.
  4. Confirm the payment.

erp-inventory-sales-create-invoice

You will notice from the WP Dashboard → WP ERP → Accounting → Inventory menu that the stock has been deducted and the balance added in the account (chart of accounts or sales).

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