A stock site is any location that carries inventory - for example, retail stores, warehouses, and service vehicles.

Stock sites must be assigned a parent store. The parent store is a location where transactions are processed and inventory is sold.  A stock site could also be a Store, so when you are associating the stock site to a parent store it may have the same name.

Item Management - Stock Sites, Serial Numbers, RGAs and Kits

Each stock site should have its own GL asset account

We recommend that each stock site should have its own GL asset account.

  • It is easier to tie the Inventory Valuation report to the Balance Sheet by Stock Site report.
  • Unit cost, which is determined by your inventory valuation method (Average, LIFO, FIFO) is tracked at the GL level.
  • Since unit cost is tracked at the GL level, inventory transacted in one stock site will affect physical counts being conducted at another stock site unless the stock sites have separate GL accounts.

Create New Stock Site

  1. (optional) If each stock site has its own GL asset account, create an account for the new stock site. 
  2. Go to Administration > Inventory > General Setup > Stock Sites.
  3. Click Add.
  4. Input the Name of the stock site - for example, Vancouver Warehouse.
  5. Enter the stock site Address, City, State, Postal Code, and Country. The address will print on all purchase orders, ICPOs and RGAs associated to this stock site.
  6. Enter an Email Address for the stock site if applicable. The email address will print on purchase orders, and RGAs associated with the stock site.
  7. Select a Parent store
    • The parent store is used when posting transactions related to inventory movement in and out of the stock site.  For example, the parent store associated with the stock site is used to record expenses when a stock adjustments occurs at the stock site.
    • More than one stock site can be assigned to a single parent store.  A common example is service vehicles.  All service vehicles are setup as individual stock sites, but each one is associated with the same Parent Store, for example, the “Service Department.”
  8. Select the GL Asset account.  Stock and nonstock type items will post to this GL account when inventory is transacted for this stock site.
    • We recommend that each stock site have its own GL inventory asset account.
    • When inventory is added to the stock site ( for example, a stock transfer), this account is debited (the account balance increases).
    • When inventory is removed from the stock site, this account is credited (the account balance decreases).
  9. The Barcode is used when importing stock transfers from a spreadsheet. This field populates with a default value.
  10. Check the This is a Primary Stock Site box if this is one of your main stock sites - for example, a store or warehouse.  Non-primary stock sites might include service vehicles.
    • By default, only primary stock sites display in the Stock Site quantity grid when searching for inventory.  You must uncheck the View Primary Stock Sites Only” box to view secondary stock sites, such as service vehicles.
  11. (optional) Enter the Locations.
    • Locations are bins or storage areas that identify where the item is located in the stock site - for example, H8b.
    • Locations/bins are created at the stock site, then associated with items through the Item Profile (Inventory tab>Edit Item).
    • This step is optional because you can add additional locations after the stock site is saved.
  12. (optional) Input a Phone. You can enter additional phone numbers once you save the stock site.
  13. Click OK to save the stock site.

Update Existing Stock Site

Some fields are only available after the stock site has been created. For example, the Active field, and the ability to add more than one phone number to a stock site.

You can input additional information about the stock site after it has been created.

  1. Go to Administration>Inventory>General Setup>Stock Sites.
  2. Double click on the stock site. The Stock Site screen appears.
  3. Use the Profile tab to update the stock site address, parent store, GL asset account and primary stock site status.
  4. Use the Phones tab to enter additional phone numbers for the stock site.
  5. Use the Locations tab to add or update locations/bins for the stock site.
  6. Click OK when complete.

Deactivate a stock site

On rare occasions, you may need to inactivate a stock site that is no longer used (a decommissioned vehicle) or a site that is closed (such as a store).  Once a stock site is inactivated, no one can process transactions through that stock site, such as transfers, adjustments, purchase orders, RGAs, ICPOs or customer quotes, sales and returns.

The following rules apply for inactivating stock sites:

  • No open transactions can exist for the stock site (quotes, customer orders/layaways, RGAs, POs, ICPOs, physical counts, items in the pending returns queue).
  • Quantity on hand for all items in the stock site must be zero.

If a user re-opens an old transaction associated to an inactive stock site and processes inventory, then Evosus will re-activate the stock site.  An example of this might be converting an expired quote to an order and delivering the items.

To inactivate the stock site, uncheck the Active box on the Profile tab of the Stock Site.

Security Permissions Required


Category
Function
Admin – Inventory
*Can Access Inventory Tree Branch
Stock Site - Add
Stock Site - Update