See Also

Recording Inventory Purchases

By accurately recording your inventory purchases as you acquire inventory, you will be able to avoid overselling and be able to maintain accurate profit and loss information.

 

When a sale occurs, it will reference the inventory purchases for an item and it will assign the oldest remaining inventory to the sale.  By associating sales with particular purchases, you will know exactly how much you paid for an item you sold even though you may have purchased the items multiple times at multiple prices.

 

Let's take a look at the purchase history for a sample item.

 

PurchaseHistory.jpg

 

Newer inventory purchases appear at the top.  You can see from the example, that the seller purchased 10 items for $12.99 each on 3/12/2010,  another 20 on 3/30/2010 for $13.99 each, and finally 10 more on 6/16/2010 for $13.99 each.  All 10 of the first purchase have been sold.  The tinted background indicates that all items from that purchase have sold.  You'll also note that 6 from the second purchase have been sold.  One item was returned because of a defect and is listed in the Lost/Broken column of the second purchase.

 

The uncommitted column contains the number of items that you have not been committed to an actual buyer yet.  This includes items that you have not listed and items that are listed but not yet sold.

 

From the summary row, we can see that of the 40 items purchased, 16 have sold, 1 was defective, and 23 are still waiting for buyers.

 

Below the grid, you will see that the total value of the inventory being carried is $321.77.  This is the value of inventory that you still haven't sold (23 * $13.99).  The shrink percentage is the percentage of the total value that has been lost, broken, or stolen.  i.e. $13.99 / ((10 * $12.99) + (20 * $13.99) + (10 * $13.99))

 

In this topic you will learn how to:

 

 

 

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To add newly purchased stock:

  1. Open the Sell Items mode.    How?
  2. Select the item in the grid for which you would like to add stock.  
  3. Click the Manage button in the Inventory group on the Ribbon bar.  The Purchase History window will appear.

PurchaseHistory.jpg

  1. Click the Add Stock button.  Alternatively, you could select a purchase record that is similar to the one you are about to add and click the Duplicate button.

EditPurchase.jpg

  1. Enter the Purchased Date, Quantity, Cost (per item), and optionally Supplier.  Click the New icon (New.jpg) to enter a new supplier or the Edit icon (pencil_16.png) to edit the selected one.  Click OK when finished.

 

 

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To edit a purchase record:

  1. Open the Sell Items mode.     How?
  2. Select the item in the grid you would like to edit.  
  3. Click the Manage button in the Inventory group on the Ribbon bar.  The Purchase History window will appear.

PurchaseHistory.jpg

  1. Select the purchase history record to edit and click the Edit button.

EditPurchase.jpg

  1. Make any modifications and click OK when finished.

 

 

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To delete a purchase record:

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Once an purchase has been associated with a sale, it can no longer be deleted.

 

  1. Open the Sell Items mode.      How?
  2. Select the item in the grid you would like to edit.  
  3. Click the Manage button in the Inventory group on the Ribbon bar.  The Purchase History window will appear.

PurchaseHistory.jpg

  1. Select the purchase history record to delete and click the Delete button.