Multiple levels to Stock Categories and Sub-Categories

Should then need arise in your business to either group or categorise your stock items, Omni Accounts provides for unlimited Product Groups, Stock Categories and combinations thereof.  Product Groups allow you have logical groupings of your Stock Items as does Stock Categories w.r.t. Categories.  Meaningful reports can then be extracted, based on these Product Groups and Stock Categories at a later stage.  Further to this, stock Categories can be used to define discounts, markups and selling prices within Customer Deals.

The Omni Accounts Stock Master File provides for the configuration of the required VAT Codes, Units of Measure as well as the quantity of the product being sold as one unit.  It also provides for the setting of the desired Stock Valuation Methods, either as an over-arching Stock Valuation Method or per individual Line Items.  These methods include Moving Average, Weighted Moving Average (Moving Average limited to the current Financial Year), and Latest Cost.

Multiple Stock Selling Prices

As a standard, Omni Accounts Inventory Control Module provides for the capturing of up to 3 stock selling prices per stock item.  These three selling prices can be linked to your customers’ and suppliers’ categories through a Stock price Index.

These selling prices can be captured as whole Rand values, in which case they remain static regardless of whether there is a change in the cost price concerned.  Alternately, they can be set to adjust by a specific percentage mark-up, by invoking the ‘Auto Selling Price Mark-up’ option, in which case they will automatically adjust according to movements in the cost price concerned.

Where your business requires the ability to configure more than three stock selling prices or you require the ability to configure special deals with certain of your clients or certain customer/stock categories, Omni Accounts Inventory Control Customer Deals will provide you with the functionality you require.  Customer Deals enables you to set up a time limited/open ended deal, based on Customer/Customer Category/Customer Region/Stock Item/Stock Category and/or a specific minimum order quantity.  This effectively translates into the ability to cater for unlimited stock selling prices, should that be required.

Each selling price can be linked to a particular Customer Category determined on the Customer Master File via a Customer Stock Price Index.

In the event that you require more than three selling prices, Omni Accounts boasts a comprehensive Customer Price Matrix (Customer Deals) which allows you to create theoretically unlimited numbers of prices per customer; Stock Items; Stock Category; Regions; Branch; Governed by a Particular Date Range; set a required minimum quantity etc.  You can also set the deal to be calculated on a markup or discount percentage.

Stock Serial and Batch Number Tracking

Omni Accounts Inventory Control Module provides for comprehensive Stock serial and Batch Number Tracking on all stock items entering and exiting your business as well as those forming part of the manufacturing process.

Omni Accounts will require every issue or receipt for these stock items to specify serial and/or batch numbers.  Omni’s advanced search functions allow for full tracking of the serial and/or batch number according to invoice, so should there be a case where one of your suppliers recalls a specific batch for example, establishing which of your customers purchased the items concerned is a simple process of running a serial-number search by invoice, enabling you to recall the item accordingly.  Batch Numbers will also give you the ability to configure a Shelf Life and Warranty Period if required.

Stock Pop-Up Memo and Stock Images

Each Omni Accounts Inventory Control Master File boasts a free-format memo field, with the option to set this to automatically pop-up.  Stock Images can also be saved to the Master File, minimising the chance for confusion, should there be similar stock items in your inventory.

Multiple Stock Valuation Methods

Omni Accounts Inventory Control Module provides for a number of Stock Valuation Methods including Moving Average, Weighted moving Average, Latest Cost and more.

In addition, Omni Accounts also provides for the setting up of Stock valuation Methods per Stock Item, ideal for those instances where you carry a combination of highly price volatile stock items as well as items which are not.

Multi-Currency

Omni Accounts boasts an incredibly powerful Foreign Exchange/Multi-Currency Module.  This feature gives you the ability to manage customers/suppliers and Bank Accounts in currencies other than your home currency.  Exchange Rates can be set per currency per period. It works by enabling you to calibrate various Customers, Suppliers and Bank Accounts in a foreign currency and manage them in their respective currencies.  You are then able to define exchange rates per currency for when you trade.  The system will then automatically post transactions to your Forex Profit and Loss Account in your General Ledger, reflecting profit or losses made due to currency fluctuations.  A revaluation wizard will give you the option of revaluing your outstanding customer and supplier invoices and any foreign bank accounts.