Inventory guide · Plutus Technologies

Switch on inventory

Choose Switch on.
Under Operations, set the receiving tolerance, which documents need approval, and the limit above which stock gains need approval.

Stock is valued at weighted-average cost: one average per item across all warehouses.
Receipts, issues, adjustments and transit losses post balanced journals to the general ledger. Plutus adds the inventory accounts to your chart for you.
Switching inventory off hides it but keeps every record.

Under Warehouses, choose New Warehouse and enter a code and a name. Add a branch and address if you like.
Under Items, choose New Item. Enter the SKU, name, type, base unit and category.
Set the reorder level, default cost and preferred vendor, and switch on lot and expiry tracking if you need it.
Choose Units on an item to add alternative units, such as a box of 12.

Choose New Purchase Order. Pick the vendor and enter the order date, expected delivery and the warehouse to deliver to.
Add a line for each item, with the quantity, unit, unit price, and any discount or tax.
Choose Save draft, then Submit for approval.
Once it is approved, choose Issue to vendor.

An order posts nothing to the ledger; it is a commitment. If the rest of an order will not arrive, choose Close short.

Open the issued order and choose Receive goods.
The quantities start at what is outstanding. Change them if less arrived, and give a reason for anything you reject.
Enter the lot and expiry date for tracked items.
Choose Save draft, then Post receipt. The stock goes into the warehouse, and its value is accrued as goods received not invoiced.
When the vendor's bill arrives, record it and link it to the goods receipt. That clears the accrual.

To use stock, choose a new stock issue. Enter the warehouse, department and purpose, and the items and quantities.
Choose Save draft, then Submit for approval. Once approved, choose Post issue. The stock leaves the warehouse and its cost goes to the category's expense account.
To move stock between warehouses, create a transfer under Stock Transfers and save it. Once it is approved (if your settings ask for approval), choose Dispatch. The stock is in transit until the other warehouse receives it.
At the destination, choose Receive at that warehouse and confirm the quantities. A shortfall needs a reason.

Department managers can request stock for the departments they head.

Choose the warehouse and Create stocktake, then Start count. Plutus snapshots what it expects to find.
Enter the counted quantities and save them, then choose Submit.
After approval, choose Post. Differences post as gains or losses.
For a one-off change, use Stock Adjustments with a reason: opening balance, found, damage, expiry, loss, write-off or correction.

Write-offs, and gains above the limit you set, need approval before they post.

Stock on Hand shows each item by warehouse, flags anything at or below its reorder level, and lists lots by expiry.
Inventory Reports has valuation, movements, adjustments and variances, expiring stock, and orders outstanding. Each downloads as CSV or PDF.
The valuation report puts the stock value beside the inventory account in the general ledger, with the difference.
Inventory Overview reconciles the stock ledger with the general ledger for stock value and goods received not invoiced.