This guide explains how sales stock control (inventory) works within HirePOS, detailing how stock levels are calculated, what factors influence stock quantities, and the tools available to track and manage stock. Whether you're managing a single location or multiple branches, this guide will help you understand the key components that affect stock levels and how to use HirePOS to maintain accurate inventory records.

The Stock On Hand (or Current In Stock) is calculated based on several factors in HirePOS. These include:

• Last Stocktake Quantity: The most recent recorded stock count.

• Quantity Sold: The stock removed due to sales transactions.

• Quantity Used on Maintenance Records: Items consumed during maintenance or repairs.

• Quantity Purchased: The stock added due to purchase orders (POs) being received.

• Quantity Adjusted: Manual adjustments made to stock levels (e.g., for damaged goods).

• Branch Transfers: Stock moved between different branches or locations.

By considering all these elements, HirePOS provides an accurate representation of the current stock levels for each item.

For accurate stock management, it's crucial to enter the Last Stocktake Date and Quantity for each item. This sets a reference point for calculating future stock levels and ensures consistency in your records.

• Manual Entry: You can enter the Last Stocktake Date and Quantity either individually for each item or in bulk via the Sales Stocktake feature in HirePOS.

• Stocktake Process: After performing a stocktake, the system updates the stock quantity, helping to correct any discrepancies and maintain an accurate record.

HirePOS provides two powerful tools for tracking item stock levels and understanding how an item arrived at its current stock count:

• Item History: This tool shows all transactions related to an item since its creation. It includes details on sales, purchase orders, maintenance records, stock adjustments, transfers, and other records that have affected the item's stock level.

  • The Item History provides a comprehensive list of activities affecting stock levels, giving you insight into each transaction's impact.

• Stock Movements: This tool shows the running balance of stock starting from the last stocktake date. It includes all transactions and records that have affected stock levels since then.

  • Stock Movements provides a simplified view of how stock levels have changed over time, focusing on the balance changes rather than detailed transaction history.

• Single Branch/Store: If you're operating with only one branch or store, HirePOS will manage a single stock level per item. All transactions related to an item will impact this unified stock level.

• Multiple Branches/Stores: If you're managing multiple locations, each branch will have its own stock level for each item.

  • Transactions and records affecting stock will be specific to the branch where the transaction occurred, and they will only affect that branch's stock level.

  • However, you can still view the grand total stock for the entire organization across all branches. It's important to note that most users will typically work with and report on stock at the branch level, as this provides a more accurate view of stock management within each location.

The following transactions will affect stock levels in HirePOS:

• Invoices: Reduces stock when an item is sold.

• Credit Notes: Increases stock when items are returned.

• Stock Adjustments: Manually adjust stock levels due to damage, loss, or other reasons.

• Branch Transfers: Moves stock between branches.

• Received Purchase Orders: Increases stock when received (including partially received orders).

• Purchase orders in HirePOS can exist in three modes:

  • Quote (Purchase Quote): This mode represents a purchase that has not yet been confirmed or placed with the supplier. It does not affect stock levels.

  • Order (Awaiting Order): This mode represents a purchase order that has been placed but has not yet been received. It does not affect stock levels.

  • Received (Received Order): This mode represents an order that has been received from the supplier. It does affect stock levels by increasing the inventory count when the items are physically received.

  • A purchase order can be partially received, where some items are received and others are still awaiting delivery. Only the received lines (or the full received orders) will affect stock levels.

• Sales Orders do not directly affect stock levels until they are converted into invoices. However, on the Stock Levels and Reordering screen, you can preview stock levels considering pending sales orders.

Awaiting Purchase Orders can also optionally be included in the Stock Levels and Reordering screen view, allowing you to see stock predictions with or without these orders. This feature allows four possible views on stock levels:

1. Current Shelf Level: The actual stock on hand.

2. Predicted Shelf Level: Stock levels after all pending orders (sales and purchase) are converted.

3. Pessimistic View: A conservative view assuming that all sales orders will be fulfilled (i.e., "oversold").

4. Optimistic View: A view showing the stock level as if all received-but-not-yet-dispatched purchase orders are included, giving a more optimistic forecast of stock availability.

There are toggles available on the Stock Levels and Reordering screen to display each of these views, allowing for dynamic and comprehensive stock tracking.

• Estimates

• Reservations

• Quotes

• Bookings

• Contracts

• On Hold Sales

• Sales Orders (until they are converted to invoices)

A stocktake is an essential process to validate the current stock levels and identify any discrepancies (or variances). To perform a stocktake in HirePOS, you can use the following options:

• Manual Data Entry: Input stock counts directly into HirePOS.

• CSV Upload: If you have large quantities of data, you can upload a CSV file that includes item codes, stocktake dates, and quantities counted. This method makes it easier to update stock levels in bulk.

After completing a stocktake, HirePOS will generate a variance report that shows the difference between the expected stock (based on previous records) and the actual stock counted. Once you confirm the stock levels, you can commit the new stock levels, updating the system accordingly.

• Regularly perform stocktakes to keep your inventory accurate.

• Always update the Last Stocktake Date and Quantity after a stocktake.

• Use Item History to track past transactions and identify any unusual discrepancies.

• Take advantage of Branch-specific stock levels if you operate multiple locations, and ensure you're reporting on the right branch's stock data.

• For large inventories, consider using the CSV upload feature to streamline the stocktake process.

By understanding how stock levels are calculated, what transactions affect stock, and using the tools available in HirePOS, you can effectively manage your inventory and ensure your stock records are accurate and up-to-date. For further assistance or detailed questions, please refer to the HirePOS help documentation or contact support.