Related Video Content: Details: Use customer price groups to automate pricing structures across individuals or groups of customers. This is ideal for the following: - Employee pricing: Create a customer record for each employee, create a sales order, invoice the order, and then take payment from the employee for the invoice. - ...
Related Video Content: Details: Companies have a need to finance inventory purchases for items they want to bring into stock and display on their showroom floors, use as demo models or resell immediately. These items that are financed are tracked by serial number to keep an accurate accounting of them. Floor Finance Plans require paym...
Details: Hazardous materials tracking allows you to track hazardous material items across multiple stock sites. Each hazmat code is assigned a maximum quantity and maximum weight requirement per stock site. Reports can then be generated to alert you of max weight and max quantity violations across all stock sites. Bill of Ladings can also be ...
Bill of Lading
Related Video Content: Use the Preview and Profile tab on the Item screen to view general information about an inventory item. Options Use the Options tab on the Item screen to define specific settings on the inventory item - for example, change if the item is sold to customer, or is a clearance item. Vendors, Aliases, Warran...
Inter-company purchase orders
Details: If you change the item receipt cost on an AP invoice, the application handles this scenario differently based upon the stock movement status of the item receipt. Item Received, Posted/Not Posted, No Stock Movement - In this scenario, the item receipt cost is updated on the Purchase Order. You can see this on the Item Receipts sc...
GL Posting on Item Receipts
Related Video Content: Review the purpose of using ICPOs rather than Stock Transfers and learn how to create new ICPOs. Step by Step: Step 1: Requesting stock site creates the ICPO - When creating the ICPO, the requesting stock site selects which stock site will supply the items. - The requesting stock site can also select an em...
Intercompany purchase orders
Stock Site Replenishment
ICPO service task
Details: There are five item types in Evosus: Stock, Nonstock, Labor, Other and Special Order. Each one serves a different purpose and, in some cases, will track quantity or will post to the general ledger differently. - Item types are assigned to inventory items using the Type field on the Options tab of Item screen (Inventory > Open an ...
Special Order Items
Details: FIFO and LIFO are accounting techniques used in managing inventory and financial matters involving the amount of money a company has tied up within inventory of produced goods, raw materials, parts, or components. FIFO FIFO stands for first-in, first-out, meaning that the oldest inventory items are recorded as sold first but do ...
Details: Negative inventory is where a transaction causes quantity on hand to fall below zero. Negative inventory is not uncommon and a small number of negative items could be considered a normal part of doing business. That said, negative inventory typically indicates some sort of problem that should be addressed. The most common problem is s...
Related Video Content: In this video you will get an overview of the physical count process, including: pre-count reports, resolving outstanding inventory transactions, count sheets, adjustments, completing the count, and reports. - A thorough and efficient physical count process is an important part of controlling inventory, managing cost...
Details: Evosus uses a holding account typically referred to as Purchases Accrued Not Due (PAND) when receiving inventory. The account is credited upon receipt and debited when items are associated to AP Invoices which causes the account to net to $0.00. You won’t typically see a $0.00 balance since you’re constantly receiving inventory, but e...
Purchases Accrued Not Due
Details: Quantity tracking in Evosus provides users with an accurate physical on hand count while also accurately reflecting what is happening from an accounting standpoint (valuation on hand). The reality is that physical on hand quantities can differ from valuation on hand. How can this happen? #1 First and foremost, Evosus allows quantitie...
Valuation on Hand
Details: Use reorder alerts to set up when items should be reordered. For example, if an item should be reordered when the on hand quantity drops below 5 units, you can set that up as a reorder alert. - You can add reorder alerts to each stock site where the item is sold, and reorder alerts can vary by month to deal with seasonality. - Reo...
Related Video Content: Details: Serial Numbers are unique identification numbers used to track an item for warranty and repair purposes. Evosus® automates this process by enforcing Serial Number Tracking on Purchase Orders and Sales Orders. All information pertaining to tracked serial numbers will be displayed in the Serial Numbe...
enforcing serial numbers
Floor Plan Tracking
Related Video Content: Use special order items to manage all of the custom orders that you deal with in your business. What do you need to know? - We recommend that you create a special order item for each type of special order item that you sell. - Special order items post to their own asset clearing account. - Special order i...
Special Order Items
Details: You use ICPOs to manage inventory at multiple locations. But when should you use stock transfers? Basic features of stock transfers Stock transfers reduce on-hand inventory of one or more items in one location while simultaneously increasing the on-hand inventory at another (Administration>Inventory>Stock Transfers). Her...
Suggested Stock Transfer
Create Stock Transfer
Reverse Stock Transfer
Related Video Content: An understanding Valuation On Hand vs physical Quantity On Hand in the Physical Count process is very important. This module will review Valuation On Hand to provide a better understanding of this concept.
Related Video Content: Overview Manually create a PO Managing POs with PO search screens Receive a vendor purchase order
Vendor Purchase Order
Receive Vendor PO
Step by Step: Step 1: Open the New Inventory Item screen. There are several ways to open this screen: Administration > Inventory > Add Item OR Inventory > Add Item. Step 2: Our Item Code (required) - Type in your company's Item Code. Step 3: Description (required) - Enter a description of the item. Step 4: Item Type (require...
Details: Since inventory items cannot be deleted in Evosus, the archive feature allows you to mark an item as “Do Not Sell” and move the item from the current Sub-Department tree branch into the Archive folder within that Product Line. Once these steps are completed, the archived items cannot be easily located in the Inventory Tree to be sold...
Archive Inventory Item
Step by Step: Step 1: Open the Locations tab of the stock site #1 Open the Stock Sites tab of the Administration - Inventory screen (Administration > Inventory > General Setup > Stock Site). #2 Double click on the stock site where you want to create the bins. The Stock Site - Retail Store screen appears. #3 Open the Locations tab. ...
Step by Step: You cannot delete an inventory item, but you can uncheck the Sell this item box on the inventory item (Inventory > Open an item > Options tab). This means the item cannot be added to customer orders or vendor purchase orders, and it will not display in the inventory tree in POS and on orders. The inventory item will also no...
Delete Inventory Item
Sell This Item
Once the physical count is complete, you need to update the quantities in Evosus. Adjustments can be entered manually using the transaction number on the printed count list, imported from one or more P360 memory scanners, or a combination of methods. The instructions below are specific to a count performed using P360 memory scanners. Update...
Physical Count Report
Print Phyical Count
Related Video Content: Do you have duplicate inventory items in your database? Maybe you have an item that was set up as C-4950 and C4950. Use the Inventory Item Merge screen to merge inventory items (Administration > Inventory > Utilities > Merge Inventory Items). Details: What happens when you merge duplicate items? #1 Yo...
Issue: From time to time you may find that someone has paid for inventory on an Accounts Payable (AP) bill by coding the bill to Cost of Goods Sold (COGS) or the Inventory Asset Account, but you later find someone also recorded item receipts which cannot be deleted because they have been posted. You still need to clear out your item receipts i...
Open Inventory Receipt
Can't delete receipt