Processing

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Stock item records define the items you buy, sell and use. You maintain stock item records using the Stock form in the Stock application. You can record descriptions, prices and analysis information that will enable you to enter movements and adjustments to stock levels, complete order documents efficiently and report on sales and usage.

For information about processing stock movements, refer to the Stock Movements Help topic.

Prerequisites

Some prerequisites are optional, but if you want to complete the corresponding boxes on the forms associated with the Processing command, you must first create the record(s) on which your selections will be based. For some records, defaults can be defined in other applications.

Box	Prerequisite
Sales Code	This is used to help you analyse sales of the stock item to your customers. At least one sales code record must be created using the Sales Ledger - Maintenance - Sales Codes form before you can identify a default sales code for the stock item.
Supply Code	This is used to help you analyse purchases of the stock from your suppliers. At least one supply code record must be created using the Purchase Ledger - Maintenance - Supply Codes form before you can identify a default supply code for the stock item.
Category	At least one category record must be created using the Categories form in the Stock Control application before you can assign a category to the stock item.
Profile	At least one profile record must be created using the Profiles form in the Stock Control application before you can assign a profile to the stock item.
Superseded by and Alternative 1, 2 and 3	At least one other stock item record must exist before you can identify an alternative stock item or one that supersedes the stock item.
Warehouse	You may want to create warehouse records in addition to the defaults supplied using the Warehouses form in the Stock application before you link stock items to warehouses.
Landed Cost Types	If you need to calculate landed costs, at least one Landed Cost Type record must be created using the Landed Cost Types form in the Stock Control application.
Landed Cost Groups	If you want to summarise similar landed costs together for reporting and viewing, Landed Cost Groups must be created using the Landed Cost Groups form in the Stock Control application.
Country (EC VAT form)	At least one country record must be created using the Countries form in the EC VAT application. This only applies if you have the EC VAT application installed and activated.
Commodity Code (EC VAT form)	At least one commodity code record must be created using the Commodity Codes form in the EC VAT application. This only applies if you have the EC VAT application installed and activated.

Model Stock Items and Defaults

You can use existing stock items as templates when you create new stock records. When you create a new stock record, the Options list on the Add New Stock dialog box provides two options:

Create Stock Without a Model
Create Stock Using an existing Stock Item as a Model

Provided you have created at least one other stock item, you can use the Create Stock Using an existing Stock Item as a Model option to determine default entries for most of the boxes on the Stock form and its associated forms. These defaults can be overridden to customise the record before saving.

Stock References

A unique reference or number in the Stock ref. box identifies each stock item record. In addition to this main stock item ID, two search references are supplied. The search references can be used as an alternative means of locating a stock item record elsewhere in the system, while the other stock item numbers are used for alternative IDs that may be included on order processing documents or used for selection purposes on reports. For example, a supplier's number for an item may be different to the one you use.

Description

In addition to a short 40-character description for the item, you can use the Extended Description tab to maintain a more comprehensive description. The extended description does not have to be associated with a stock item so it can be used as a text paragraph on any document. When you retrieve the stock item on documents, the standard description appears as the first line followed by the extended description. If using the extended description, you must take into account stationery designs used for documents to ensure the layout will enable you to print from a practical point of view.

Pricing and Discounting

Each stock item record includes a normal cost and selling price. The cost price can be used in conjunction with the selling price to calculate markups. The selling price can be overridden by sale and next prices or be subject to various discounts according to the entries in Price / Discounts forms associated with the Stock form.

BOM Details

If you have the BOM application and you have an assembly record selected in the Stock form, you can use the BOM Details command on the Action menu to display the following information on the BOM Details form:

Material cost
Labour cost
Lead time
Yield quantity (This cannot be edited. All component quantities entered will be the amount needed to make whatever is shown here)
Warehouse code (if you are using warehouses)
Kitting flag

These details are also on the assembly structure record available using the BOM application's Processing command.

Where Used

If you have the BOM application and you have a subassembly or a component record selected in the Stock form, you can use the Where Used command on the Action menu to display the Where Used form. This lists the assemblies on which the subsassembly is identified as a component record. The Expand All or Collapse All commands are then available on an Action menu which you can use to show or hide the component breakdown of the assembly records listed in the grid.

Landed Costs

If you need to calculate Landed Costs, you use the Landed Costs command on the Action menu to apply Landed Cost Types to your stock items. These are then used when you post transactions for the stock item in Opera.

Landed costs are those additional costs - other than the unit price costs - that are incurred to get goods you purchase from your supplier to your premises, particularly for goods that are imported. The total cost of a landed shipment may include the purchase price, freight costs, insurance, and other costs. In some instances, it may also include the customs duties and other taxes that are levied on a shipment. Calculating the landed cost is critical in understanding what a product actually costs so that you can calculate what it can be sold for.

View

Use the View command on the Action menu to display information concerning the currently selected stock item. You can choose from a range of information forms. If you have multiple warehouses in use, you can choose warehouse view which gives details of stock held at different warehouses. You can use the commands on the Action menu to display additional information or double-click an item in the view to ‘drill down’. Note that the view is also available by double-clicking the Spyglass in the In Stock box.

OLE

You can link objects to be associated with stock records. A representation or placeholder for an object is inserted on the O.L.E.form associated with the stock record. The object exists in the source file and, when it is changed, the linked object is updated to reflect these changes.

Stock Entries

General tab

Box	Description
Stock Ref.	A unique reference to identify the stock item using up to 16 characters.
Description	The standard description of the stock item using up to 40 characters. This is used to identify the stock item on reports and enquiries and it appears as the first line of description on documents such as invoices, delivery notes and so on. When processing movements for the item, you can alter or override this description. If this stock item is used on a Special Price List and you change the description here, as long as the stock item's description on the Special Price was the same as this description before the change, the Special Price description is also changed.
Search Ref. 1 and 2	Two additional stock references, each using up to 16 characters. These are alternative identities to the main code which you can use to find an item by a code other than by the stock reference field. They are useful where you have long, complex stock references but where you want to search on a text alternative. These references are used for searching purposes only — reports and analyses are based on the content of the Stock Ref.
Sales Code	A reference that identifies the default sales analysis code for this item. If you have the Sales application activated, you can select from a list. Sales codes are defined using the Sales Codes command on the Maintenance menu in the Sales application. The code is used within the Sales application to analyse sales of the item. If you have the Sales application activated and you leave this code blank, the application assumes the stock item to be a description-only item and it ignores all subsequent boxes. If you do not have the Sales application activated, you can enter any code in this box.
Supplier Code	A reference that identifies the default supply code for this item. If you have the Purchase application activated, you can select from a list. Supply codes are defined using the Supply Codes command on the Maintenance menu in the Purchase application. The code is used within the Purchase application to analyse purchases of the item. If you do not have the Purchase application activated, you can enter any code in this box.
Analysis	An option that determines whether you can override the analysis code in document processing. You can select Override or Fixed from a list.
Category	A reference that determines the category to which the stock item is assigned. You can select from a list. The stock category is a stock analysis mechanism and category records are defined using the Categories command on the Maintenance menu in the Stock application. If one or more category records exist, you must select a category.
Profile	A reference that determines the profile to which the stock item is assigned. You can select from a list. The profile determines the processing characteristics of the stock item and profile records are defined using the Profiles command on the Maintenance menu in the Stock application. You must select a profile otherwise all items will be 'description only'. You cannot amend the profile once receipts, issues, transfers or supplier product records exist for the stock item.
Sell Price	The standard selling price. For items that are factored or sold in fractions, enter the price per factored quantity. For example, lemonade might come in crates of twelve bottles. Enter the selling price per crate. Provided the Allow Split Pack option is selected on the profile associated with the item, you may sell less than a whole crate, in which case the system calculates the price by dividing the crate price by twelve and multiplying by the number of bottles sold. This is the price charged to all customers (less any relevant discounts) unless they are subject to a special price from within a price list, or warehouse if you have this feature. Selling prices are entered to the number of decimal places set on the profile. However, if using foreign currency customers or suppliers, the number of decimals depends on the setting of the Use Calculated Foreign Price Unit Decimals option on the System Preferences form in the System application. If selected, the application automatically calculates the number of decimal places to use for sell and cost prices where foreign currencies are involved using the setting in the stock profile. Without the option selected, these are based on the decimal places held for the currency on the Exchange Rates form for foreign customers or suppliers and from the Stock Profile form for home currency customers and suppliers. By selecting this option, both foreign and home customer and supplier postings allow for the same degree of accuracy in decimal precision.
Std/Avg. Cost	The cost price of this item. This cost price, or one from a warehouse if you use this feature, is used to calculate the value of stock-in-hand and the gross profit margin of each invoice/credit note line, subject to the method of costing employed. You can enter the cost price when you enter receipts into stock. Prices are entered to the number of decimal places set on the stock profile. When stock receipts are posted, the cost price is used to calculate a new average price if the item is linked to a Stock Profile that has been set up for average costing. However, if the existing cost price for the stock item is zero, an average is not calculated. Foreign Prices If you have foreign currency customers or suppliers, the number of decimals displayed depends on the Use Calculated Foreign Price Unit Decimals option on the System - Utilities - System Preferences form. By selecting this option, both foreign and home customer and supplier postings allow for the same degree of accuracy in decimal precision. If the option is selected, the application automatically calculates the number of decimal places for foreign sell and cost prices based on an algorithm that uses both the foreign currency and stock profile settings. With the option cleared, the number of decimal places for foreign sell and cost prices is the same as for the currency on the System - Maintenance - Exchange Rates form. For example; if a foreign currency is set to two decimal places but stock cost prices are set to three decimal places, the prices will be rounded to two decimal places when you post a transaction. You can see this information if your Opera login ID includes 'Manager Rights'. Login IDs are maintained on the System - Maintenance - User Profile form.
Std/Avg. LC Cost	The landed cost price of this item. This cost price and the unit cost price for the stock item, or those from a warehouse if relevant, are used when the value of stock-in-hand and the gross profit margin of each invoice/credit note line are calculated. The landed cost price is always displayed to two decimal places. You can see this information if your Opera login ID includes 'Manager Rights'. Login IDs are maintained on the System - Maintenance - User Profile form.
Last Cost	The last cost price used for this item. You can see this information if your Opera login ID includes 'Manager Rights'. Login IDs are maintained on the System - Maintenance - User Profile form.
Last LC	The last landed cost price used for this item. You can see this information if your Opera login ID includes 'Manager Rights'. Login IDs are maintained on the System - Maintenance - User Profile form.

Options

Box	Description
Unit Weight	The weight of the stock item in the form that it is sold (item, pack). You can record the unit weight for reference, or reporting if you use the Reporter application.
Unit Volume	The volume of the stock item in the form that it is sold (item, pack). You can record the unit volume for reference, or reporting if you use the Reporter application.
Superseded by	A reference that identifies a stock item that supersedes the current stock item. This reference is used in the SOP or Purchase Orders applications, from the date specified in the Date box beneath. A message is displayed to inform you that an item is superseded if you subsequently select it after that date.
Alternative 1, 2, 3	References that identifies up to three alternative stock items. If you run out of stock of one item, you can issue a predefined alternative. The application offers the alternative in turn, depending on stock availability.
Traceability	The next serial or batch number to be assigned to a traceable stock item. If you need to process stock records that are traceable by serial or batch numbers, refer to the Traceability section for information.
Dormant	An option that determines that the stock item is not in use. Dormant stock items remain in Opera, but they cannot be transacted and are excluded from most other processes, including most reports (some reports provide an option to include dormant items). Pegasus Mobile Sales: Dormant stock items are not uploaded to mobile devices used for Pegasus Sales App. Only these stock items can be marked as dormant: items with zero in stock items with zero allocated to sales orders items with zero allocated to works orders or work-in-progress items with zero on sales orders items with zero on purchase orders. Other conditions prevent the item being marked as dormant, for example: items cannot be components in a bill of materials assembly or subassembly items cannot be included in sales order documents, proforma invoices, quotations, invoices, delivery notes or model purchase orders items cannot be linked to a cost code in Costing Item cannot be in an order line of a document in Purchase Order Processing Item cannot be in an activity in Sales Pipeline Management, Service Management or Helpdesk Management. You can prevent dormant stock items from being shown in stock searches by clearing the Include Dormant Items option on the search forms. 1. Clear this option to reinstate a stock item. 2. Use the Stock Control - Utilities - Global Dormant Changes command to mark multiple stock items at the same time as dormant.
Allow S/Order	An option that determines whether the stock item can be included on a sales order. If this option is cleared, the stock item is effectively on hold until you subsequently release the item by reselecting the option.
Allow P/Order	An option that determines whether the stock item can be included on a purchase order or uncommitted purchase order document. If this option is cleared, the stock item is effectively on hold until you subsequently release the item by reselecting the option.
Reverse Charge	An option that determines whether the stock item is a certain high value item that, assuming a transaction for a VAT registered domestic customer or supplier is above a certain value, must be accounted for VAT using Reverse Charge accounting. Once the option is selected, you cannot clear it if the item is used on an existing transaction. You can identify a Reverse Charge item by the icon that appears in the form's status bar. What's Reverse Charge Accounting for goods?

Price/Discounts

Box	Description
Line Discount	An option that determines whether the default for line discount is presented for this stock item when it is included on orders, invoices and so on. If this option is cleared, no default line discount will be provided, but one can be entered manually. In any case, any default value for line can be changed. If the stock item exists on a special price table, then this option setting can be overridden by the Line option on the Special Prices Details form.
Overall Discount	An option that determines whether the value for this stock item is included in the total for calculating overall discount, if the stock item is included on orders, invoices and so on. If the stock item exists on a special price table, then this option setting can be overridden by the Overall option on the Special Prices Details form.
Settlement Discount	An option that determines whether the value for this stock item is included in the total for calculating settlement discount, if the stock item is included on orders, invoices and so on. If the stock item exists on a special price table, then this option setting can be overridden by the Settlement option on the Special Prices Details form.
Discount Group	A reference that identifies the discount group to which the item belongs. You can use this to apply customer group discounting.
Sale Price	A sale or special offer price for the item. This price is applied to the stock item during the period defined by the range of dates you enter in the Start Date and Finish Date boxes alongside. During that period, the sale price overrides the standard selling price specified on the General tab of the Stock form.
Next Price	The next selling price. This will replace the standard selling price specified on the General tab of the Stock form from the date specified in the Start Date box alongside, so you can determine price changes in advance. When you use Period End or Reorganise commands in Stock, Invoicing, or SOP, and this next price takes effect, the standard selling price is replaced by this next price, and the next price is then zeroised. The commands affected are: Stock - Utilities - Period End and SOP - Utilities - Reorganise.

EC VAT

This only applies if you use the EC VAT application.

Box	Description
Country of Origin	A reference that identifies the country of origin of the item. You can select from a list. Country codes are defined using the Countries command in the EC VAT application. This default is presented when the item is included on documents, such as orders and invoices.
Commodity Code	A number that identifies the default commodity code for the item. This is presented when the item is included on documents, such as orders and invoices, and is used on the SD to classify types of goods and related services. You can select from a list. Commodity codes are maintained using the EC VAT - Maintenance - Commodity Codes command.
Supplementary Units	The supplementary units (second quantity). This default is presented when the item is included on documents, such as orders and invoices. This applies where a commodity code has an entry in the 2nd Qty. Description box indicating that a second quantity is required (in line with HMRC regulations).
Net Mass (kg)	The net mass, in kilograms, for this item. This value is included on the SD. This default is presented when the item is included on documents, such as orders and invoices.

Warehouses

Multiple warehouses are only available if you use the multi-warehouse feature. You access the warehouse form from the View command on the Action menu (Action - View - Edit).

Box	Description
Warehouse	A reference that identifies the warehouse to which the stock item is linked. If you enter transactions for a warehouse that the item is not linked to, the application displays a warning. This acts as a check to prevent you selecting the wrong warehouse; however, you can choose to ignore the warning and continue with the transaction entry and in doing so, create a link. If you want to remove the link between the item and a warehouse, select the Remove Inactive Stock From Warehouses option on the Period End Options form when you use the Period End command in the Stock application.
Stocktake Profile	You can create more than one Stocktake profile for a stock item, for example you can have one profile for warehouse MAIN and another profile for warehouse QURN. For some items that you keep in more than one location, you may want to do stock takes more frequently in one location than in other locations. This may be important if you hold stock in warehouses that are used only for receiving stock - like a quarantine warehouse – and also in warehouses for issuing stock. You are perhaps more likely to want to count stock in an issuing warehouse more frequently. Stocktake Profiles allow you to define how stock items are processed in Stocktake. These profiles are used to set up the following options: Acceptable tolerance percentages where actual quantities that are found during a stock take are different to the quantities in Opera. For example, for small low value items it may be acceptable for there to be either up to ten percent more or ten percent less of the item found actually in stock compared to the quantity in Opera. The number of days before a stock take is due to be done. For example, you are likely to want to count high value items more often than low value items. You may also want to count items in some warehouses more often than in other warehouses. How many times items should be checked during a stock take up to three times. It may be necessary to validate a count by doing it more than once, either using the same person or with someone else. Whether stock items should be excluded from the stock check. You may have some items that are very low value which you do not want to count. Whether either the average or standard cost, or the last cost price, is used to calculate the value of adjustments when they are posted from Stocktake to Stock Control. A default Stocktake Profile must be added to the Stock Control - Utilities - Set Options form. Stocktake Profiles can also be linked to individual Stock Profiles on the Stock Control - Maintenance - Stock Profile form and to warehouses where stock items are kept on the Action - View - Edit form from Stock Control - Processing. Click here to see a flowchart of how Stocktake Profiles are used.
Sell Price	The selling price if the stock item is issued from this warehouse. If you leave this box blank, the main selling price is used. This price is used whenever the product is issued or included on an order, invoice, quote or pro forma, in preference to the selling price on the General tab of the Stock form (provided it is not zero) and will be subject to discounts according to how the item is processed and the way in which you have configured the pricing structure.
Std/Avg. Cost	The cost price used if the stock item is received at the selected warehouse. If you enter a cost price here it will be used when you receive stock. An average price will be recalculated when stock is received. Standard prices will not be recalculated. If you leave the price at zero it will be ignored when you receive stock and will never be recalculated when stock is received. In this situation the cost price for the stock item on the Stock Control - Processing form will always be used.
Std/Avg. LC Cost	The landed cost price of this item at the selected warehouse. This cost price and the unit cost price for the stock item, or those from a warehouse if relevant, are used when the value of stock-in-hand and the gross profit margin of each invoice/credit note line are calculated. The landed cost price is always displayed to two decimal places. You can see this information if your Opera login ID includes 'Manager Rights'. Login IDs are maintained on the System - Maintenance - User Profile form.
Last LC	The last landed cost price used for this item in this warehouse. You can see this information if your Opera login ID includes 'Manager Rights'. Login IDs are maintained on the System - Maintenance - User Profile form.
Minimum Qty	The minimum stock quantity for this stock item. When a stock movement causes the stock to fall below this quantity, the application displays a warning. You can then decide whether to proceed with the transaction.
Reorder Lvl	The quantity at which the system will alert you to reorder this item. When the stock level falls to or below this quantity, the application displays a warning.
Reorder Qty	The normal reorder quantity. This quantity is offered as a default when you create purchase orders for this item, but you can override the quantity on the order.
Bin Number	A reference that identifies the bin number where this stock is located. The bin number is available on reports to identify the item's location. In the Stocktake application, you can filter the stock items using these bin locations. For example, if you have bin locations B001 to B099, you can select stock located only at locations B001 to B005. For information about Stocktake, see the Introducing Stocktake Help topic.
Dlv. Chge	The standard delivery charge for the item.
Renewal Date	The date on which the stock item should be renewed.
Supplier	A reference that identifies the supplier. You can select from a list. Suppliers are maintained using the Processing command in the Purchase application. You can identify up to three suppliers in order of preference.
Net History	The amount of stock issued for the current period and each of the previous 12 accounting periods. This information is available for comparative period reporting. The application automatically updates these figures when you post stock movements.
Extended Description	An additional description.