My Inventory
My Inventory page lists all the inventory you currently have.
You can filter the results by Outlet name, or by Product name, SKU, bar-code, brand, product type, supplier, season and tag.
Inventory table
The table displays all products with the following column headers as pictured here
Inventory items column
The product/variant name and SKUOn Hand column
The total amount of stock held right nowCommitted column
The amount of stock held but not available for sale, ie on Back Order, Parked Order, Pending Stock Transfers.Available column
The amount of stock held and available to sell right now- Edit Available Qty
With this option, you can edit the available quantity of the product just like you do on the Product page. With this feature, you can update your inventory and stock levels without having to create a new stock-take or update each product's inventory one at a time. -
You will find two options under the ‘Edit available qty’ column:
Add: After you enter the Qty in the empty field and click on the Add button, it will add the stock to the already available stock.
Set: After you enter the Qty in the empty field and click on the Set button, it will replace the already available stock with the number you entered in the box
Location/s column
The number of outlets you have. If you hover the mouse over the entry in this column and have multiple outlets, will display the On Hand, Committed and Available stock for each individual outletAwaiting column
Stock ordered from Suppliers, but not received yetExporting Awaiting and Committed Inventory
You can also download the Products with Awaiting Inventory and Products with Committed Inventory as per your choice.
An Export option is provided on My Inventory page which will give you two options.
Export Products with Awaiting Inventory.
Export Products with Committed Inventory.
More options to filter inventory on the My Inventory page
Here you get the filter on the
My Inventory page (Products with inventory greater than zero). This filter will
remove all products with 0 inventory from the list and will give you only
in-stock products.
It will be a great option, if you are using thousands of SKUs and facing difficulties to track products with 0 stock.
These reports will be downloaded on an excel file into your device and you can filter them from the excel as per your requirement.
Weighted Average Cost History/Cost report
This new feature is very relevant and useful feature for business purpose that helps you to find the product price change/update log. For every product you can find the reason when and how the price updated. For example, if the product price updated through sale or purchase you will find it here.
You will need to enable the option from General settings to view weighted average cost history.
To check this Cost change report/Cost change history, please click on 'clock' sign and the new window will show you the price change reports that you can filter on the basis of outlets.
It will show you the 'weighted average cost history' where you can find the price updated by 'Initial Set-up', 'Purchases', 'Sales' and Unit balance based on the outlet/all outlets.
Let's explore how this reporting works:
1. The product was created in Hike and at the initial setup page, the cost price of the product was added $10 on the product page.
2. After this, 5 sales were processed for this product at the same cost price of $10. This is the same cost price on the product as initial cost price.
3. A new Purchase Order is created with 10 units now where the cost price is increase to $15.75
The average for both the costs with the remaining units will be $12.30.
15 available units ($10.00) + 10 New purchase order units (15.75) /25 Total units available now = $12.30 Per unit Weighted average cost.
Note:
These details are only available if ‘Activate Weighted Average Cost for
purchase cost calculation’ is enabled in the General settings.
Let's explore how this reporting works:
1. The product was created in Hike and at the initial setup page, the cost price of the product was added $10 on the product page.
2. After this, 5 sales were processed for this product at the same cost price of $10. This is the same cost price on the product as initial cost price.
3. A new Purchase Order is created with 10 units now where the cost price is increase to $15.75
The average for both the costs with the remaining units will be $12.30.
15 available units ($10.00) + 10 New purchase order units (15.75) /25 Total units available now = $12.30 Per unit Weighted average cost.
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