Stock Transfers Between Outlets in Hike
For business with multiple outlets, the easiest way to replenish stock is often through a stock transfer. That transfer doesn’t just have to be from store to store, but it also could mean from warehouse to store, such is the necessity of inter connectivity between multiple outlets in modern retailing.
To do this, retailers need a sophisticated POS system that can connect with multiple outlets, actioning Transfer Orders and updating inventory levels of stock in real-time.
Fortunately, Hike POS offers retailers with a built-in Transfer of Stock feature, making the relocation of products, a streamlined process.
Stock Transfers Overview
Before we start looking at how to create new stock transfers, let’s look at the Transfers screen in Hike, to give you a complete overview on what’s on the screen so that you can better familiarize yourself with it.
Note: To utilize the Transfers section in Hike, you will need to have multiple outlets.
To begin, select Inventory on the Hike menu and navigate to the Transfers screen.
This is where you’ll find all your pending and completed Stock Transfers, and where you’ll be able to create or edit new Transfers, as per your requirements.
FIND…
The Find search box enables you to search for a transfer stock order by its reference number.
+ ADD NEW
Select the +ADD NEW button, to trigger a new dialog box to slide out, where you’ll be able to create a new Stock Transfer Order.
Inventory Transfers List View
The Inventory Transfers List View is in reference to the columns occupying this section. Below we’ll go through what each column means:
Reference
The Transfer Reference number is a manually created identifier for all your transfers, created when you first set-up a new order. This is a mandatory field.
Select the Reference number to view the transfer order in more detail and/or edit the order as well, depending on its status. It’s recommended to make note of the reference number, to easily search for it using the FIND search bar.
From
The outlet where the stock has been sent from.
To
Where the stock is being delivered to.
Status
The status of your Transfer Order: Pending, Sent (Saved & Emailed) or Completed.
Created Date
The date in which the Transfer Order was created.
Created By
Name of the Hike user who created this transfer.
How to Create a Stock Transfer in Hike
In this section, we’ll cover how to add a new Stock Transfer in Hike, ensuring that you’re easily able to replenish stock between multiple outlets, easily.
Indeed, Hike POS enables retailers to add, edit & delete Transfer Orders in just a few easy clicks.
To begin, select Inventory on the Hike menu and navigate to the Transfers screen.
Click on the +ADD NEW button to begin creating your new Transfer Stock order.
From here, a new Stock Transfer form will load, providing you the details to complete the various sections of the Transfer Order so that you can action it. You can always edit these details at any time – right up until the Order has been marked as Completed.
Transfer Info
The Transfer Info section of the Stock Transfer Order allows retailers to confirm what stock is being ordered, from which store and where it will be sent to. Hike requires all sections to be filled out for a Stock Transfer order to be created.
Source Outlet
Select from the drop-down box, which store the stock will be transferred from.
Destination Outlet
Select from the drop-down box, which store the stock will be transferred to.
Reference #
A reference number for your transfer stock order, which is mandatory. This can be any combination of letters or numbers up to 50 characters.
Note: If you can sync Hike with other 3rd party programs, they may have their own limitations on the length of the reference #, or characters used.
In the Search/Find Products field, search for the items that you will be transferring. You will be able to see the Inventory at Source and Inventory at Destination, telling you how much stock of that particular item is in stock for the respective locations.
Select Add & Continue once you have added all your products. These products will now appear in the next Order Items section.
Order Items
Once you have completed adding your stock items, it’s time to start editing the quantity on the Order Items table:
Product Name
The name of the product you selected (This will also show the SKU and Bar-code of the product)
If you wish to delete the item, click on the X at the end of the line to delete it from the Order.
Quantity
Edit the quantity value of the stock you are transferring.
Received
This will show you the actual quantity received when the transfer is completed.
Cost (Ex Tax)
This will default to the cost price, as created in the Products section, however you can edit this.
Tax
The tax on the product at will be available in this field.
Cost (Inc. Tax)
This is your cost price of this product including taxes.
Received $
This will show you the total value of the received products.
Total Cost
Quantity X Tax Rate = Total Cost.
The second-last of the table accounts for the cost of freight. Enter your freight cost into your Transfer order.
Once you have completed adding in your products and quantities, you will need to SAVE your Transfer Order and mark it as Complete, once it has been received.
How to Save & Receive Stock Transfers in Hike
There are several options to SAVE your Transfer Order in Hike and an option to mark your Order as receive, once the stock has been delivered.
These options are:
Save
Select the SAVE button to save your progress but does not send or update stock levels. Updates in Transfer list with stats of SENT.
Save & Email
Saves your progress and opens an email template for you to send to your supplier. Updates in Transfer list with the status of SENT.
Mark as Received
Saves your progress and updates status of Transfer to COMPLETED.
Note: If you did not receive all stock in the Transfer, you would edit prior to marking as received, and by adding notes in the notes field.
Total Quantity of transferred product when Printing Transfer
How to Edit a Stock Transfer Order in Hike
Controlling your various Transfer Stock Orders by editing or deleting them where necessary, is easily done on Hike, and can be done directly on the Transfers page itself.
To begin, select Inventory on the Hike menu and navigate to the Transfers screen.
Select the Reference number of the Transfer Stock Order you want to edit
Note: You will not be able to edit any completed transfer stock orders. You will only be able to edit ones that are pending or have been saved or sent.
Once selected, you’ll be able to change any of the order details as you want.
Click on the SAVE button once you have finished.
How to Delete a Stock Transfer Order in Hike
When you have re-opened a Pending Transfer, you will also have the option to delete that Transfer Order.
Let’s run through how you would delete a Transfer Order in Hike, should you need to.
Note: If a Transfer Stock Order has been marked as received, Hike does not recommend retailers to delete that Transfer Stock Order.
To begin, select Inventory on the Hike menu and navigate to the Transfers screen.
Select the Reference number of the Transfer Stock Order you want to delete.
Once the screen has been opened, select DELETE THIS TRANSFER ORDER, located at the bottom of the page.
A pop-up window will appear asking you to confirm the deletion. Click on YES to confirm.
Related Articles
User A Barcode Scanner for Stock Transfers
To increase the efficiency of creating a stock transfer, you can use a barcode scanner to add products to a stock transfer. Here are the steps that you will need to follow. 1. Navigate to Inventory >>> Transfers and click on ADD NEW to create a stock ...Adding Outlets & Cash Registers in Hike
For many businesses, either new or existing, the need for scaling can quickly become a priority. Turning one Outlet into potentially a hundred, or even just expanding the operations of an existing store to add more Cash Registers, are some of the ...Tips: What Is Committed Stock and Where Is It Assigned
If you have been wondering why inventory numbers for products in your Hike Store are different between On Hand and Available Stock, this can be caused by Committed Stock. Committed Stock refers to inventory which has been sold or assigned for stock ...What is a Stock Purchase Order?
Purchase Orders (or POs) are records used to document the transaction between a supplier and a buyer. From a retailer’s perspective, a purchase order will include pertinent information such as the specific goods that you will be purchasing, as well ...Filter Users By Outlets In Hike
Hike provides you with the feature of filtering the users by the outlets you have given access to. Regarding how to set outlet access for users, please check here. When creating a new user, you can assign outlets to the user as per your requirements. ...