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Stock Items

Overview

Stock Items in the Settings > Count  area provides you with a way to manage your Stock Items.  It encompasses wine and vineyard additives, packaging and packaged wine items.  Set different attributes to identify whether you can sell or purchase the item, its tax liabilities and whether you want to track its inventory levels.

In this document:

Searching

The Stock Items list works in the same way as all the other major lists in Vinsight.   You can search for particular stock items by using the search box located next to the ‘New’ button near the top of the screen or the advanced search button directly below that.

Stock-Item-Search

Creating

To create a new Stock Item, go to the Stock Item list in the Count > Stock Items  area and click the ‘New’ button towards the top of the page.  The properties of a Stock Item are divided up into different sections to make it easier to understand what’s going on.  Each of these areas is dealt with separately below:

Stock Item Details

The Code field is required here. You can also give the Stock Item a description and a supplier.  You should set yourself as the supplier if you are selling the item.  The Stock Group is the most broad grouping of an item you can have.  It currently functions as a text version of most of the attributes.  Some examples of Stock Groups would be “Packaging”, “Finished Items”, “Additives”.

In contrast, Product Categories are slightly more detailed.   These are used so you can group products that are similar or substitutes together for reporting or operational use.   You can have multiple categories for the same item.  You can use either a simple category like organic or a category that has a value, like color:white, region:north or year:2015

Product-Categories

You can type a new category directly into the ‘Product Categories’ text box.  Click ‘return’ or ‘enter’ after each new category that you add to ensure they are added separately.  If typing a new category, it will automatically be added to the ‘Product Categories‘  (found in the Settings > Count area ).  In the following example we have added ‘color:red’ as well as ‘color-white’ and ‘organic’.  You can see that, when you look at the ‘Product Categories’,  the values ‘white’ and ‘red’ are both listed as options in the ‘color’ category.

ProductCategories

 

Attributes and Usage

This section tells Vinsight what type the item is and what you can do with it. If you tell Vinsight to track the inventory, it will keep a record of how much stock you have, and when you use some of the item, it will automatically decrease the quantity for you.

Stock-Item-Attributes

 

Inventory

Here you are required to input a “Units in Stock UOM”. This is what you measure your units in stock by. For example, you would probably measure your stock of PMS in Kg rather than g. Your stock of Wine to Sell might be measured in boxes rather than litres.  The “Inventory at Location” is automatically updated when you receive some of that item and you choose where it is stored. Here we have received some PMS to our Chem Shed:

 

image

 

Conversion Rates

This section lets you define your own custom conversion rates.  The two examples below help illustrate how this works:

Example 1:  The stock item in question is yeast, which you commonly purchase in 500g  bags and add  to your tanks in various quantities, measured by weight.

First enter grams and kilograms into the table and Vinsight will automatically insert appropriate conversion rates.  Then manually define a bag to be 500 grams.

StockItem-conversion

 

Example 2:  The stock item in question  is 2015 Chardonnay which you sell in individual 750ml bottles but also in cases of 6 and 12 bottles.

Insert each of these variants into the ‘Conversion Rate’ table to make them available for selection when creating  sales orders for this stock item.

Conversion-Rates

Note: You should not include an item in the conversion rate table for a stock item unless it is substitutable for that product.  For example, while a customer may be happy to receive two 6 x 750ml cases as a substitute for one 12 x 750ml case, they would not accept two 12 x 375ml cases, even though the volume would be the same.  You would accordingly need to set up a separate stock item to deal with 375 ml bottles and their pack size variants.

 

Operations

Here you are required to have both UOMs set.  The Default Rate UOM is the Unit of Measure that is applied when you are adding this item to a wine vessel.  For our PMS example, if you want to add some to a vessel, you would most likely want to add something like 1 mg per Litre.  So for Default Rate UOM, you would choose mg.Default Quantity UOM is the unit of measure that gets used once you have added your 1 mg per Litre and you want to know the total amount added.  For example if you added 1mg per Litre to a 1000L tank, then you would want the unit to show as a a total of 1 gram added, rather than 1000mg.

image

If the item isn’t an additive, just set it to be the same as the Units in Stock UOM.

Costing

Standard Cost is the Cost per Unit of stock item.  When you use some of the item in a vessel or harvest, this cost is used to work out what cost to attribute to that wine or fruit.  For example if the Standard Cost of a Kg of PMS is $20 and then you add 1 gram of it to a vessel, the wine in that vessel gets attributed with $0.02 (0.02 cents) as the cost of the added PMS.

image

 

For more information on setting the Standard Cost for a Stock Item see Setting Standard Costs.

Sales and Purchases

This section is where you detail how much you buy and/or sell the Stock Item for.  For subscription levels that support price books, you can have multiple prices for each product and in different units of measure. Ensure that you correctly identify the price as  ‘Sales’ or ‘Purchases’ in the Type column as  the ‘Sales’ price will come up as the default price when creating a Sales Order for that product, currency and unit of measure.  (You don’t want to mistakenly sell stock at the ‘Purchase’ price.)  You can use the Prices table to build up different prices for Units Of Measure and Currency.  There is also a place to set the Tax Rate of the item.  The description field can be used to label prices for different customer categories.

StockItem-Prices


Make sure you press the “insert” link at the right side of the row you are inserting so it gets saved in the system.

For subscription levels that don’t support price books, you can define one sale price, then if needed you can override that price in each sales order. Purchases will auto-suggest the standard cost as the purchase price.

 

Ledger Codes for Xero

The Ledger Codes in the Sales and Purchase section are used when you post a Sales Order or Purchase Order to Xero.  (If you do not use Xero, simply leave these ledger fields blank.)  You can use the default codes set in Xero or you can create your own ledger codes.  For example, you could to break your sales down into ‘201 Sales-Wine’, ‘202 Sales-Food’ and ‘203 Sales T-Shirts’.   If you create your own codes, you must remember to add these Account Codes to your Xero account, using the ‘Add Account’ feature in the’Chart of Accounts’ area of the ‘Settings’ tab.

Note:  The sales categories you choose to track in Xero are for the top level view on your Profit & Loss Statement.  You can still do more detailed sales reporting within Vinsight.

 

XeroAddAccount

You can have combinations of letters or numbers as Ledger Codes, e.g. 200, 999, 260-a.  Below is an example of Ledger codes being used in Vinsight and Xero:

StockItemLedgerCustom

 

XeroShowLedgerAccount

 

If you would prefer to break your sales in Xero down by customer type,  for example, Sales-Export, Sales-Domestic and Sales-Direct, you do not need to fill in the ‘Revenue Ledger’ in the Stock Items.  Instead edit the ‘Default Revenue Ledger Code’ in the ‘Ordering Details’ area of customer’s Contact page.  See Contacts – Revenue Ledger Code for more details.

Note:  If you set the Revenue Ledger Code in both the Stock Item and the Customer’s Contact page, the Contact page Revenue Ledger Code will override the code set in the Stock Item.  If you wish to track the sales by product type, leave the Revenue Ledger Code in the Contact pages blank.

As the Stock Item, we are looking at here, Golden Leaf Chocolate, is something we purchase as well as sell, we have also entered codes in the Expense Ledger and Asset Ledger Fields.  We have used the Xero Default Code “310 Cost of Goods Sold” in the Expense Ledger and a custom code we have created called “631 Purchases for Resale” in the Asset Ledger.

The Asset Ledger Code is the one that will show up on a purchase order posted to Xero for that product.

XeroPurchaseOrder

In summary, you need to decide how you wish to code items in Xero first and then put those codes into Vinsight.

Stock Allocations

In this section you can allocate specific quantities of the stock to different customers.  The allocation will be tracked and generate a warning if you try to sell more than the allocated amount to any particular customer.

In the following example, we allocate 25 of the 2012 ABC Chard Magnum to Hank’s Distributors.

StockItemAllocation

If we went on to despatch a sales order for 15 magnums of the 2012 ABC Chardonnay to Hank’s Distributors, the allocation will reduce accordingly to 10.

StockAllocationReducedHank

If we then proceeded to create a further sales order for another 20 magnums (exceeding the Allocations Remaining), we would receive a warning:

StockAllocationWarningAbridged

Note: The warning will not prevent you from proceeding with the Sales Order, should you wish to override the allocation – it will simply warn you that the allocation is being exceeded, giving you the opportunity to cancel the order.

For more information see Stock Item Allocations

Composite Products

As well as creating individual products, Vinsight also enables you to create Composite Stock Items, made up of other individual Stock Items.  For example, if you wish to market and sell a selection of different wines in a single case, such as a ‘Summer Selection’ or  ‘Red Selection’,  you can create a separate Stock Item for that selection.  When creating a new Composite Stock item, simply enter the relevant components in the Inventory area.

StockItem-composite

 

Ensure that the Purpose of Components slider is set to ‘Parts of a Kit’.

PartsOfAKit

When despatching a Composite Stock Item,  Vinsight will take care of selecting the individual bottles and removing them from inventory.

Despatch-composite

 

Bill of Materials

An individual stock item such as a carton of bottled beverages may include other stock items you are tracking such as bottles, caps and cartons.  These items can be detailed in the Inventory area of the composite Stock Item in question.   These components will then be automatically added to operations during the manufacture of the item.

To create a Bill of Materials go to the Default Components section in the Inventory area of the Stock Item.

Select the default components you wish to include from the drop down list provided.  Ensure that you select a quantity that corresponds with the unit of measure of the stock item itself.  For example if the composite stock item is a 12 x 750ml carton of bottled wine, then you might want to add one carton and one carton divider, but 12 bottles and 12 caps.  See example below,

DefaultComponents

 

Ensure that the Purpose of Components Slider is set to ‘Bill of Materials’

BillofMaterials

 

When bottling the default items will appear in the Packaging Used part of the packaging operation and take care of depleting them from inventory.

PackagingOp-PackagingUsedTruncated

 

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