Inventory Management

[a440]

We are a repair shop and when we write up estimates, it will include labor and parts. We send out invoices when the repair is done.

Our inventory management is off. Is inventory being accounted on estimates or only when the item is sold via invoices and terminal. 

Our thought is maybe when we write up estimates the item that needs to be managed isn't sold, so therefore reflected in our inventory mangagement?

[londontea · Accepted solution]

Hi @a440! You are correct, items are not subtracted from your inventory when you send an estimate. In fact, inventory is not subtracted until the invoice is fully paid. Estimates, unpaid invoices, and partially paid (deposit) invoices will not deduct stock. 

My only workaround requires physically looking at the shelf where the item is kept. I don't use estimates, but I do request deposits on invoices. When that happens I remove the item from the shelf and put it in a bin. If someone else wants to order the same item then I have to look at the shelf to see how many we have left. Fortunately this doesn't happen often in my business so it's manageable for me, but I can imagine it would be difficult for a repair shop. 

I would like to see an option for "reserved" stock with invoices. Creating an estimate/invoice would move stock from available to reserved, and if the estimate isn't accepted or invoice is canceled then the stock is made available again. 

[a440]

We've implemented a physical KANBAN system here at the shop after a failed move to the inventory management. 

We love the idea of a "reserved" stock. 

[nsperry10]

@SQPhil Will Square be updating this inventory issue?  Is it already in the works?  Once an item has been invoiced it should be moved to reserved stock or pulled from inventory.  

[trisha_m]

Hi @nsperry10, I'm the Beta Manager for the new feature of ensuring that available inventory is held every time an invoice is sent. This way, you can track available inventory in your item library, Square Online Store, and Retail Point of Sale.

This feature includes:

• View available inventory versus inventory on hand in your item library.

• Ensure you don’t oversell items before an invoice is paid.

• Canceled invoices return inventory to available stock.

I'm excited to share that this feature is expected to be released to the public by end of this year! 🎉 The feature will automatically show up on your account when it becomes available.

[nsperry10]

@trisha_m Excellent news!  Thanks 

[MHGS]

This would be very helpful! Is there a way currently to "hold" stock without an invoice?

[trisha_m]

There isn't but I will pass this along to the team as a feature request.

[MHGS]

That would be very helpful! For example, our town is listing our products on their website for a local Christmas Shop. I have to set aside a certain amount of inventory until December 13th in case any of it sells through them. It would have been nice to put inventory on hold rather than marking inventory down and then back up at the end.

[a440]

Does this apply to estimates sent?

[trisha_m]

It does not, it only applies to invoices sent.

If this is something you are interested in having, I can pass this along to our team as a feature request. I can't guarantee it will be implemented but I can make sure the appropriate teams see that it's been requested.

[jeff_wholistic]

Can I turn this feature off?

[trisha_m]

Hi @jeff_wholistic, yes this feature can be turned off. If you go into Item Library > Settings > Inventory and turn off the Adjust inventory levels through invoices toggle it will no longer track inventory you add to invoices.

I'd love to know why you are considering turning it off so I can let the product team know! 

[colorsofglass]

Hello, we have a Brick and Mortar and an online store, we do classes, repairs, and custom designs. We pull from inventory for classes, repairs, and custom work. this inventory is not adjusted unless we go into Stock Action and Select Reason. Here is where we have a choice of Stocked received, Inventory re-count, Damaged, Theft, Loss, and Restock return. I would like to change the choices to something that matches are needs like Classes Repairs, Custom work, etc. And I cannot find anywhere in the Reports showing the numbers on the choices like Damaged, Theft, Loss.

This would give me the ability to see how much of the inventory is going to Classes, Repairs, Custom Work, scrap sales, or to wherever I choose to track it.

John

Colors of Glass