Product Setup
Products are tangible products that are not services. A service on the other hand is a service performed by one of your staff for the customer, such as a repair, a haircut, or something similar that does not involve giving the customers an actual product for the price they paid to carry home with them. A shampoo bottle is a product, a haircut is not a product, it's a service. A product must be returned in order for a customer to get a refund, a service fee may be refunded without the customer returning anything. Now that the difference between what is a product and what is a service, think about all the tangible products that you sell, and add each of these under Products. To add a product, click the Products button under Settings, the minimum required information to add a product are the product name, category, SKU, price, and product cost. The product name is the title or name that helps you and your employees identify the product. The category is the name of the group that the product falls under. The SKU is the scan or bar code that uniquely identifies the product when it is scanned using a bar code scanner, it allows the software to lookup information about the product being scanned, such as name, price, etc, and automatically populate those values during the creation of an order. The price is the selling price that the customer pays for the product. The product cost is the amount that your business pays the supplier to buy the product.
In addition to the required information mentioned above, the supplier SKU is the SKU used by the supplier to identify the same product. The SKU you assign to a product internally should be using your own numbering system instead of using a particular supplier's SKU. The same product purchased from 2 different vendors may have a completely different supplier SKU, and therefore, you should avoid re-using the SKU of one of these suppliers as your own to avoid confusion. The reason you want to keep track of the supplier SKU is so that when you talk to the supplier, you can give them the SKU that they use to refer to the product so that they can identify exactly the product you're discussing with them.
You can also specify a Return Price for each product, this way when a customer wants to return a product, the software automatically uses the Return Price you specify here for the amount to be refunded for the returned item. If you don't setup a Return Price for a product, the Selling price will be used.
You can also mark a product as Tax-Exempt if you don't want this software to impose tax on the product when it is sold. Additionally, you can mark the product as having a value-added-tax (VAT), and specify the amount of value added tax, that way the software will assume that the tax is already included in the price, and does not impose addition tax when the product is sold.
You can specify the minimum inventory you expect to have of the product at any time. This value is used by this software when auto-generating a purchase order. The software will find all the products whose current inventory is below the minimum inventory you specify, and will automatically place an order for that products that is calculated based on the formula: OrderQuantity = minimumInventory - currentInventory + reorderLevel.
Maximum Inventory is the quantity of the product that you have, which should never exceed this maximum quantity. Nothing prevents you from having larger quantity than the maximum quantity you indicate here, it is just for you to keep track of the maximum number of pieces you should have on hand of the product at any time.
You can also assign a picture to the product so that when an order is created, the user can see a picture of the product instead of just the name.
