In this article:
- Why use Stock Management?
- Basic Stock Management setup
- Manage products across multiple locations
- Track stock levels (backend)
- Build recipes (coming soon!)
Why use Stock Management?
Stock Management is not mandatory for running your business with Abacus. However, there are two main reasons why you may consider using stock management:
- To track, order & report your goods effectively
- To make decisions based on the cost of your goods
Depending on your type of business, you may also want to manage your stock using "working items" and "recipes". In any case, it's best to know the basics first.
Basic Stock Management setup
Mark "stock" items (individually)
In order to manage your stock, you will need to mark an item as "stock".
You can only mark one item at a time, unless you're an advanced user who is familiar with CSV files (in which case skip to the next section).
- Go to your Products list
- Enter the Product Details page via the pencil button
3. Go to the Stock Management tab
4. Tick Stock Item
6. Repeat for all of your stock products.
You can also set up:
- Safety Stock: this is the minimum amount of stock that you want as a buffer so stock does not run out unnoticed. If your stock falls below this threshold, it will be highlighted in red on the Stock Management page
- Stock Factor: this is the number of units in a product.
For example, if you have a 3L bottle of milk, but want to measure the usage per litre, you will make the stock factor 3, so each unit is 1L.
Mark "stock" items (in bulk)
If you are an advanced Excel spreadsheet user and you're familiar with CSV files, you can import a Products list that changes your products to Stock items.
- Create a spreadsheet with the columns:
- Product Code: enter the existing product codes of your products that you wish to mark as stock. Important: these must match your existing product codes
- StockItem: enter "TRUE"
2. Save the spreadsheet as a CSV file, with the file name "Stock products"
3. Go to POS Settings > Bulk Import
4. Under Import, select Product
5. Click SELECT CSV/XLSX FILE
6. Select "Stock products.csv"
7. Click Import
The "Is Stock" option will now be ticked for all the products whose Product Codes you included in the CSV file.
Manage products across multiple locations
If you tend to divide your stock into several places (e.g. storeroom, fridge, upstairs, downstairs), you may want to set up multiple Locations. If you keep your stock in one place, you can skip to Track stock levels (backend).
- Go to Stock Management > Locations
- Click Add New Location
- Enter the Location Name and any further details if you wish. You must have one location set as default ("Is Default").
4. Click Save.
5. Scroll down to Location Products. Under Find Product, enter the name of a product that you store at this location. Only products that have been marked as stock (in the previous section) will appear. You can select multiple products to add at once.
6. Click Add
You can also manage a product's Locations in the Product Details > Stock Management tab under Location.
Now when you track your stock levels, you'll be able to select the location discretely.
Archive a Location
There is no way to completely delete a location since it contains important information about the stock. Instead, we archive it so it doesn't appear elsewhere on the backend. Go to the Location Details page and then click Archive.
Note: You cannot archive a Default Location.
Other uses for Locations
Track Stock Levels (backend)
- Go to Stock Management > Stock Level
You will see all your stock products with their current quantity for each location.
A column will appear for each location you have.
2. Click the pencil button of a stock product to access your Stock Details page, which includes your stock management functions and history.
There are several stock management methods:
- Following the above procedure, go to the Stock Details page of a stock item
2. Under Transaction List, click Stock In
3. Select which Location you are stocking into
4. Enter the Stock In amount
5. (OPTIONAL) Add a Note
6. Click Save
7. The table will update:
- A Stock In transaction will be recorded under the Purchases column
- Any stock movement (stock in, out, transfer) will also be recorded under the Movement column
- The new final total of stock will appear under Balance
Stock In shortcut
- On the main Stock Management page, click the Stock In button (+) to launch the Stock In popup.
2. Select which Location you are stocking into
3. Enter the Stock In amount
4. (OPTIONAL) Add a Note
5. Click Save
6. The stock amount will update accordingly.
Bulk Stock In - advanced spreadsheet users only
- Create a spreadsheet (e.g. in Microsoft Excel) with these columns:
- Product Code: product codes underneath
- StockIn: stock in quantity underneath
2. Save as a CSV file (an XLSX file is also fine)
Call the file "Bulk Stock In"
3. On the Abacus backend, go to POS Settings > Bulk Import
4. Under Import, select Product
5. Click Select CSV/XLSX, and select "Bulk Stock In.csv" (or "Bulk Stock In.xlsx")
6. Click Import
Stock Out & Wastage
Wastage is treated as a type of "stock out", the steps for recording wastage and stock out are similar.
- Go to the Stock Details page of a stock item
2. Under Transaction List, click Stock Out
3. Select which Location you are stocking out of
4. If the stock is wastage, click Is Wastage. (OPTIONAL) You may also select a pre-defined Status, or reason for the wastage.
5. Enter the Stock Out amount
6. (OPTIONAL) Add a Note
7. Click Save
8. The Transaction List will update:
- The stock out will be recorded as a Sales/Usage
- The wastage will be recorded as Wastage
- Stock out and Wastage will be recorded as Movement of stock (negative)
- The new final total of stock will appear under Balance
Stocktake (using stocktake sheet)
- Go to Stock Management > Stocktake Sheet
2. Click Add Row
3. Enter the Product Name or the Product Code
4. Select the Location. The current amount of Stock On Hand will be loaded.
5. Enter the Stocktake quantity
6. Select a Unit
Repeat for the rest of your stock.
Note: If you are counting a particular product multiple times in sections (e.g. looking at one shelf at a time), you can keep adding rows, as they will be totalled in the next step when you click Calculate (or "Consolidate")
7. When you click Calculate (or "Consolidate"), the cost will be updated (based on your Product Details) and the variances will be calculated.
- Variance = stocktake qty - stock on hand
- Variance % = (stocktake qty - stock on hand)/stocktake qty
- Variance Cost = Product cost × variance %
8. Click Save Draft to save this stocktake sheet without actually changing the stock quantities.
9. (OPTIONAL) Click Set Uncounted Stock to Zero, to add all uncounted products to the draft and set their stocktake quantities to zero.
10. When you have completed the stocktake sheet, click Commit Changes. This will update the stock quantity accordingly.
If you ever want to start over with a fresh stocktake sheet and discard your changes, click Clear Data.
"Detected bad display unit configuration for item [x] in row [y]. Please reconfigure the item."
If you see this message, it means that you've set a Display Unit without setting a Stock Unit.
Resolve this by going into your Product Details > Stock Management tab and ensure you have a Stock Unit.
Stocktake via bulk import
Advanced CSV users may use a spreadsheet for their stocktake sheet.
- Create a spreadsheet
- Enter these columns:
- Product Name
- Product Code
- Stock Quantity
- Available Quantity
- Total Stock Quantity
- Total Available Quantity
Enter the corresponding stock data in the rows underneath
3. Save as a CSV file (an XLSX file is also fine)
4. Go to Stock Management > Stock Level
5. Click Import Stocktake (CSV/XLSX)
6. Select the CSV file (or XLSX file) that you have created
7. Your stock levels will be updated.
Note: If you only want to DRAFT a stocktake update, go to Stock Management > Stocktake Sheet and upload the CSV file there instead.
If you have recently made changes to your stock (e.g. stocked in via POS), click Calculate Balance for the most recent stock data.
Transfer stock between locations
- Click the Transfer button (two arrows) on the right of a stock item.
2. Select the site and location from which you want to transfer stock. The current location quantity will display.
Note: a Site is the company, whereas a Location is the place you created in Stock Management > Locations
3. Select the destination site and location to which you want to transfer stock. The current location quantity will display.
4. Select the quantity of stock you will transfer from one location to the other.
5. Click Transfer
6. The stock will be subtracted from one location, and added to the other.
If you ever want to download a CSV file of your stock transactions for the selected product, click Export.