We're super excited about this new Reckon One update! Inventory management & purchase orders are now available in Reckon One! This release is jam packed full of new features, check out the full details below!
β¨ Inventory management in Reckon One
π¦ Create items & track stock.Β
Create inventory items with purchase and sale pricing along with stock levels. Quantities update automatically as you buy and sell, so you always know what's on hand.
π¦ Manage stock from purchase order to sale.Β
Create purchase orders, receive stock and invoice customers with your inventory and accounts connected throughout the process.
π¦ Sell first with negative inventory.Β
Complete sales before purchases are recorded e.g. drop shipping businesses.
π¦ Stay ahead of low stock.Β
Quickly identify items running low with low stock alerts and avoid missing a sale.
π¦ Track stock value with inventory reports.Β
View quantities on hand, average cost and inventory value, with detailed reports showing the transactions behind your figures.
Check out our how-to video to learn how to setup and use inventory in Reckon One
Getting started with Inventory in Reckon One π₯
β¨ Purchase Orders
Purchase orders are now available in Reckon One! You can create a purchase order to confirm what you're ordering from a supplier including items, quantities, costs and delivery and send it to your supplier.
Purchase Orders can be converted to one or many bills and if you're on the Reckon Ultimate plan, you can also convert multiple PO's to one bill.
Check out our how-to video to learn how to get started with Purchase Orders in Reckon One π
Purchase Orders π₯
Purchase Orders are available on the Accounting Premium and Reckon Ultimate plans
β¨ Stock adjustments
You can make adjustments to inventory stock items with the new Stock Adjustments feature in Reckon One. Stock adjustments can be made to:
- Quantity -Β adjust the amount of stock by entering a new quantity on hand.
- Value - adjusts the value of the stock either by changing the average cost or total value of the item.
For an overview of adjusting inventory stock, check out our how-to video here π
Adjusting inventory stock π₯
β¨ Inventory Details report
The Inventory Details report shows the details of transactions involving inventory items. It shows changes in quantity, cost, value, and average cost of items and is useful for:
- tracking inventory levels
- evaluating inventory item profitability and movement
- reviewing the financial value of stock.
β¨ Inventory Valuation Summary report
The Inventory Valuation Summary report shows the total value of stock on hand, broken down by item. It helps you to:
- see the total value of inventory at a specific point in time, assisting in the calculation of Cost of goods sold and ending inventory for financial statements
- analyse inventory trends to make decisions.
β¨ Inventory Status by Item report
The Inventory Status by Item report shows the current stock position of inventory items in Reckon One, so you can manage inventory levels effectively.
For each item, the report shows the quantity on hand, reorder point, and whether the item is low in stock. The report also allows you to drill down to see transaction details when needed.
The inventory status by item report is available on the Reckon Ultimate plan
β¨ Purchase Order List Report
The Purchase Order List report helps you track your purchase orders. It allows you to group and filter purchase orders by status, supplier, classifications, projects and more.
β¨ Purchase Orders by Supplier Detail Report
The Purchase Orders by Supplier Detail Report to see a row-by-row breakdown of purchase orders grouped by suppliers, so you can see the details of what you've ordered, what you've received, and what remains unfulfilled.
The Purchase Orders by Supplier Detail Report is available on the Reckon Ultimate plan
