Typically, inventory is made up of the items that you have in stock to sell to your customers. In Sage 50, in addition to the items that you keep in stock, you can also enter other things that you sell, such as services, for easy data entry and reporting purposes. You may want to enter non-stock items for things that you purchase, but don't sell, such as office supplies. This allows you to easily enter these items on purchase transactions such as purchase orders or purchase invoices.
Tracking
- Sage 50 has various inventory reports and the Inventory & Services Navigation Center that you can use for tracking and managing your inventory.
- You can keep track of quantities of stock items so you know how much you have on hand to sell to your customers and when you need to order more. You can use serialized inventory to keep track of inventory items that have serial numbers (Sage 50 Premium Accounting and higher).
- You can track information related to service and non-stock items in addition to your stock items.
- If you have assembly items, you can build and unbuild them as necessary from other items (components) that you have on hand.
Customizing
- If you don't see a field on the Maintain Inventory Items screen for the information that you want to track, you can set up custom fields that will allow you to enter this information.
- You can have multiple prices for your inventory items.
Note: The minimum number of price levels is five for each inventory item (Sage 50 Pro Accounting).
The maximum number of price levels is 10 (Sage 50 Premium Accounting and higher).
Reporting
- You can use the Inventory Profitability Report to see how profitable your different items are and to make decisions about what you sell.
- Worksheets such as the Inventory Reorder Worksheet and the Physical Inventory List can help you manage your inventory quantities.