Figure 46 – Warranties
Figure 47 – Enable Product Expiry Setting
To enable expiry go to Settings - Business Settings - Product section. And check the “Enable Product Expiry” checkbox.
Product-Expiry, On enabling Product expiry, users can choose either “Add Item Expiry” or “Add manufacturing date & Expiry Period”
“Add Item expiry” - Choose this option - if user wants to add the expiry of the item in purchase screen.
“Add manufacturing date & Expiry date” - Choose this option if users want to add the manufacturing date of the item and the expiry period. Based on the manufacturing date and expiry period it will auto-calculate the expiry date. And this expiry date can be edited. You will have to add expiry period for the product in “Add or Edit Product” screen. And the manufacturing date in “Add Purchase” screen.
Figure 48 – Product Expiry
“On Product Expiry” - With this option users can set what the system should do when a product expired.
“Keep Selling” - Choose this option if users want the application to keep the selling the product even after expiry.
“Stop Selling n days before” - Choose this option to stop selling the item n days before the expiry. Users will have to specify the value of n (which is number of days before to stop selling)
“Stock Accounting Method” - This feature is used to set the way product should be sold.
FIFO (First In First Out) - In this the old stock should be sold first.
LIFO (Last In First Out) - In this the most recent purchase stock should be sold.
For an Example:
1. Purchase 20 pcs of product A on 20 March 2018. Expiry date 10 April 2018
2. Purchase 20 pcs of the same product A on 23 March 2018. Expiry date 8 April 2018
3. Today I sold 22 pcs.
If the “Stock Accounting Method” is FIFO - Then the Product purchased on 20 March 2018 will be deduced with 20 pcs and after that product purchase on 23 March 2018 will be deduced with 2 pcs.
So in stock, we will have product from 23 March 2018 with 18 pcs.
If the “Stock Accounting Method” is LIFO - The opposite of the above will happen.
NOTE: User must set the required accounting method before selling the item for that accounting method to be used.
Stock Expiry Report:
1. Go to Reports - Stock Expiry Reports.
2. Here users can filter stock “Category”, Brands, “Stock expiry date”
3. Click on “Edit” to modify the stock left and expiry period.
4. If stock left is decreased the unit purchase price is adjusted accordingly.
Figure 49 – Stock Expiry Alert Setup
Stock Expiry Alert:
Users can view stock expiry alert in Homepage bottom section. A list of products expiring soon.
Users can set the number of days before which the expiry alter should be shown in the Homepage from “Settings - Business Settings - Dashboard Section” View Stock Expiry Alert For input field.