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You are viewing an old revision of this post, from May 4, 2015 @ 07:53:23. See below for differences between this version and the current revision.

Item Master – Purchase

Item master - purchase is responsible for storing the monetary details about the item. The currency used for transaction, purchase rates (inclusive and exclusive of tax) and Economic Order Quantity (EOQ) are some of the information stored in this tab.   im-p Fields & its description: There are options to confirm if the item is purchasable and if that item can be bought without a purchase order. Check the respective check boxes for confirming.
  • Purchase Incharge
Purchase in charge is the employee who is responsible for the purchase of the item. Select the employee from the pick list.
  • Minimum Stock
This is the minimum stock that must be maintained of the item. Specify in numbers about the minimum stock. Doing so will ensure that there is always that much quantity of the item in the inventory.
  • Economic Order Quantity
EOQ is the number of units that a company should add to inventory with each order to minimize the total costs of inventory—such as holding costs, order costs, and shortage costs.
  •  Lot Size
Specify the size of the lot in this screen.
  • Purchase Currency
The currency used in the purchase of this item can be mentioned here.
  • Std. Purchase Rate
This is the standard rate used to purchase the item regularly.
  • Std. Purchase Rate (Inclusive)
The standard rate including all the services or items normally expected or required.
  • Purchase Cost
Purchase cost is the net landing cost of the item.
  • Maximum Stock
This indicates the maximum stock allowed in keeping the item. This can help in making sure that the stock does not exceed the maximum amount.
  •  Tolerance Type
Tolerance with regards to loss of goods among other irregularities can be controlled by specifying the limit in loss of quantity or % basis. As soon as you select a tolerance type, Tolerance value field appears where you can specify the exact value.
  • Lead Time
Lead time is the latency time allowed for the purchase of the item.
  • Last Purchase Rate/Currency
Specify the rate of last purchase of the item in this field. Similarly mention the currency used for the transaction.                      

Revision Differences

May 4, 2015 @ 07:53:23Current Revision
Content
Unchanged: Item master - purchase is responsible for storing the monetary details about the item. The currency used for transaction, purchase rates (inclusive and exclusive of tax) and Economic Order Quantity (EOQ) are some of the information stored in this tab.Unchanged: Item master - purchase is responsible for storing the monetary details about the item. The currency used for transaction, purchase rates (inclusive and exclusive of tax) and Economic Order Quantity (EOQ) are some of the information stored in this tab.
Unchanged:  Unchanged:  
Unchanged: <a href="http:// help.goodbookserp.com/wp- content/uploads/ 2015/01/im-p.png"><img class="alignnone size-full wp-image-3476" src="http://help.goodbookserp.com/ wp-content/uploads/ 2015/01/im-p.png" alt="im-p" width="972" height="325" /></a>Unchanged: <a href="http:// help.goodbookserp.com/wp- content/uploads/ 2015/01/im-p.png"><img class="alignnone size-full wp-image-3476" src="http://help.goodbookserp.com/ wp-content/uploads/ 2015/01/im-p.png" alt="im-p" width="972" height="325" /></a>
Unchanged: <strong>Fields &amp; its description:</strong>Unchanged: <strong>Fields &amp; its description:</strong>
Unchanged: There are options to confirm if the item is purchasable and if that item can be bought without a purchase order. Check the respective check boxes for confirming.Unchanged: There are options to confirm if the item is purchasable and if that item can be bought without a purchase order. Check the respective check boxes for confirming.
Unchanged: <ul>Unchanged: <ul>
Unchanged: <li><strong>Purchase Incharge</strong></li>Unchanged: <li><strong>Purchase Incharge</strong></li>
Unchanged: </ul>Unchanged: </ul>
Unchanged: Purchase in charge is the employee who is responsible for the purchase of the item. Select the employee from the pick list.Unchanged: Purchase in charge is the employee who is responsible for the purchase of the item. Select the employee from the pick list.
Unchanged: <ul>Unchanged: <ul>
Unchanged: <li><strong>Minimum Stock</strong></li>Unchanged: <li><strong>Minimum Stock</strong></li>
Unchanged: </ul>Unchanged: </ul>
Unchanged: This is the minimum stock that must be maintained of the item. Specify in numbers about the minimum stock. Doing so will ensure that there is always that much quantity of the item in the inventory.Unchanged: This is the minimum stock that must be maintained of the item. Specify in numbers about the minimum stock. Doing so will ensure that there is always that much quantity of the item in the inventory.
Unchanged: <ul>Unchanged: <ul>
Unchanged: <li><strong>Economic Order Quantity</strong></li>Unchanged: <li><strong>Economic Order Quantity</strong></li>
Unchanged: </ul>Unchanged: </ul>
Unchanged: EOQ is the number of units that a company should add to inventory with each order to minimize the total costs of inventory—such as holding costs, order costs, and shortage costs.Unchanged: EOQ is the number of units that a company should add to inventory with each order to minimize the total costs of inventory—such as holding costs, order costs, and shortage costs.
Unchanged: <ul>Unchanged: <ul>
Unchanged: <li> <strong>Lot Size</strong></li>Unchanged: <li> <strong>Lot Size</strong></li>
Unchanged: </ul>Unchanged: </ul>
Unchanged: Specify the size of the lot in this screen.Unchanged: Specify the size of the lot in this screen.
Unchanged: <ul>Unchanged: <ul>
Unchanged: <li><strong>Purchase Currency</strong></li>Unchanged: <li><strong>Purchase Currency</strong></li>
Unchanged: </ul>Unchanged: </ul>
Unchanged: The currency used in the purchase of this item can be mentioned here.Unchanged: The currency used in the purchase of this item can be mentioned here.
Unchanged: <ul>Unchanged: <ul>
Unchanged: <li><strong>Std. Purchase Rate</strong></li>Unchanged: <li><strong>Std. Purchase Rate</strong></li>
Unchanged: </ul>Unchanged: </ul>
Unchanged: This is the standard rate used to purchase the item regularly.Unchanged: This is the standard rate used to purchase the item regularly.
Unchanged: <ul>Unchanged: <ul>
Unchanged: <li><strong>Std. Purchase Rate (Inclusive) </strong></li>Unchanged: <li><strong>Std. Purchase Rate (Inclusive) </strong></li>
Unchanged: </ul>Unchanged: </ul>
Unchanged: The standard rate including all the services or items normally expected or required.Unchanged: The standard rate including all the services or items normally expected or required.
Deleted: &nbsp;Added: <ul>
 Added: <li><strong>Purchase Cost</strong></li>
 Added: </ul>
 Added: Purchase cost is the net landing cost of the item.
Deleted: &nbsp;Added: <ul>
Deleted: &nbsp; 
 Added: <li><strong>Maximum Stock</strong></li>
 Added: </ul>
 Added: This indicates the maximum stock allowed in keeping the item. This can help in making sure that the stock does not exceed the maximum amount.
 Added: <ul>
 Added: <li> <strong>Tolerance Type</strong></li>
 Added: </ul>
 Added: Tolerance with regards to loss of goods among other irregularities can be controlled by specifying the limit in loss of quantity or % basis.
 Added: As soon as you select a tolerance type, <strong>Tolerance value </strong>field appears where you can specify the exact value.
 Added: <ul>
 Added: <li><strong>Lead Time</strong></li>
 Added: </ul>
 Added: Lead time is the latency time allowed for the purchase of the item.
 Added: <ul>
 Added: <li><strong>Last Purchase Rate/Currency< /strong></li>
 Added: </ul>
 Added: Specify the rate of last purchase of the item in this field. Similarly mention the currency used for the transaction.
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