Items are utilized throughout Workbench for a number of reasons.
- Items are the backbone of the Stock system. An Item is a piece of Stock. This Item must exist for us to manage that piece of Stock. It is required for us to issue and value stock. Throughout the stock module Item is synonymous with Stock.
Note.
Once you are purchasing material to a job the stock Item must be set up as a Catalogue.
Stock is managed through Items but purchased through the Catalogue.
Each Item can be associated with a number of catalogues as there can be a catalogue per supplier.
- The Quoting module utilizes Items to build up lines in the Cost Sheet.
- Items are required for the purchase of Activity code lines through Quoting and Procurement.
- Items are required for Bill of Materials. You need to create an item which will form the basis of the Bill.
- Items are required for the sale of Finished Goods through Procurement. This may be necessary where you have a production line taking raw material, labour etc and producing a standard range of products that you will be selling or putting back into stock
Maintain Items can be accessed direct through the menu structure or through Stock Management.
To access Maintain Items there needs to be an Item displayed on the screen.
Maintain Items will be Read Only unless Admin Function "Edit Stock Items" is included.
You can also add new Items through the Catalogue Lookup in Purchasing.
New Item
Select to create a new Item.
Item Code
Description
Select whether this Item is Stock, Non Stock or Activity.
Stock
This Item is held in stock. It can be purchased, issued and be on hand. Costing method can be Standard, Average or Last Cost dependant on Control Parameter - "Stock Cost Method"
Non Stock
This item is used for purchasing and quoting purposes but it is never "on hand". Costing Method is as per the Control Parameter - "Stock Cost Method" explained above but where this is Average it will be deemed to be Last Cost as average does not work for Non Stock items. For the Quoting module only the Costing method is Standard or Last Cost dependant on Control Parameter - "Quote Non Stock Cost Method" for the Quoting Module
Activity
These are Items that are set up for the purpose of purchasing Activity type transactions through Procurement. They are automatically set up if they don't' exist (dependant on Control Parameters) when Procurement is updated. Standard Cost is the only valid costing method. The Sell Rate is not used.
Inactive
If the Item is ticked as Inactive it will not appear in any of the lists.
Unit
Notational Field to describe the unit of stock. E.g. Each, length, meter etc
Std Cost Rate
A standard Cost rate is manually entered. The first time this is used this rate defaults through to the Average and Last Cost. (This is necessary in case stock is issued before there has been stock purchased through AP and Average or Last cost is used for the costing method. It would issue at $0. This default is over-ridden with the first purchase).
Avg Cost
An ongoing average cost rate updated with Purchases and Value Adjustments. See Overview for an example of how it is calculated.
Last Cost
Updated every time there is a purchase of this Item.
Selling Rate
Used as a Selling rate throughout the system. This is the second priority after the Price Code Rates.
Markup %
Used as third priority after Price Code and Selling Rate.
Manufacturer
This is freeform but adds to a drop down list.
Manufacturer Part Number
Specify the Manufacturers part number. This can be included in the Purchase Order for the Supplier. (Ask your Workbench Support)
Details
Activity
Stock and Purchase transaction type Activities appear in the Drop Down. This Activity will be the default for stock issue & return transactions. The default activity for purchases comes from the Catalogue.
Category Code
SubCategory Code
Group Code
For additional analysis and reporting you can have Item Categories, SubCategories and Groups.