Options for Managing Inventory in ClickEntryadmin
- Clickentry enables you to save the details of things you buy and sell at regular intervals as inventory items.
- There are two types of inventory you can create with Clickentry:
Using Inventory Items
- Clickentry allows you to save snippets of a transaction detail as inventory items to use it again.
- While creating a new inventory item, you can specify the default price, account, tax rate, and description details.
- Clickentry assists you in personalizing your item list to save time and standardize your invoices and bills. While creating transaction you just need to select from the item list to prefill transaction fields with the details saved in the inventory item.
- Other than this Clickentry also allows you to do some basic reporting on the items you buy and sell.
Tracking Inventory Items with Clickentry
- You can track your inventory items if you want Clickentry to calculate the stock and account for the cost of goods sold.
- You can keep track of the quantity and value of the stock you have with you.
- Clickentry records the revenue and related purchase cost in the same accounting period at the time the sale is made.
Some Key Points for Tracked Inventory:
- There must be the stock of the items you sell.
- You are not allowed to operate negative inventory balances.
- You can not record the sale of an item unless you have recorded its purchase.
Changing the Method You Use
- You can change an untracked item to a tracked item to start tracking the quantity and the balance of the inventory. You don’t require to enter an opening balance when you make the change.
- Clickentry also allows you to change a tracked item to an untracked item but under certain conditions.