00:00I'm going to be showing how the programates to inventory and the accounting, how they all relate with each other.
00:08Alright, so in this training, I'm going to be using like a solar company, for example.
00:14So first of all, I already have the tabs open.
00:18So these are the inventory tabs.
00:20Let's create an inventory.
00:22That's for a company that is just starting.
00:25That is using the app for the first time.
00:27So the first thing you need to do is create a category.
00:31Let's say solar.
00:32Let's name the category solar.
00:34It can be anything.
00:36So solar, requisition account, the account that you're using for chasing the, the, then save.
00:47Once you've done that, then you can add subcategory if needed or vendor if needed.
00:53So let's call this solar panel.
01:01So solar panel, you can add the description, you can add the unit type.
01:05Let's say, no, one unit.
01:13So you can add that.
01:15Then you can add stock units, inventory type.
01:18It's going to be physical because it's a physical product.
01:21Then the opening cost, how much was it, but let's say $80,000.
01:32That has opening cost.
01:34That should be $80,000.
01:38So it's been so that before I go to sale, you can add the inventory account, the cost of sales,
01:46or you can leave it blank to generate.
01:48You can also add things like the cost method.
01:52You can add the manufacturing dates.
01:55You can say, okay, it was manufactured on the first.
01:58Though it's not necessary, it just depends on, you can add expiring dates if necessary.
02:03Also, once you're done with that, you can add starting configuration, transaction configuration.
02:08If you want to include tasks, sales tasks, anything, the selling price, how much you want to sell it.
02:15You can add things like that.
02:17So once you're done with that, let's say it's been sold at $120,000.
02:24So once we're done with that, you can add the task if you want to add the task and cost
02:28method.
02:29So once we're done with that, you can also add the amount of units that you have in stock.
02:35You can also add that.
02:37But let's say, for example, you don't, okay, let's add it actually.
02:42Then opening quantity.
02:44You can add, we have 50, okay, 100 as opening quantity.
02:52So once you're done with that, you can just create the inventory.
02:56So once it has been recorded, it's going to save.
03:00Let's give it a few minutes to boot.
03:03So once it's done, just go to all inventories.
03:08Then you can see it here.
03:10Purchase price, $80,000.
03:12So once you go to in stock, because we've already had, I think, a hundred or so.
03:21That's a hundred, yes.
03:22A hundred quantity.
03:23So you see the quantity here within your in stock.
03:27So in stock is, all right, you have such quantity already.
03:31What you have in your inventory, that's what you, what is called in stock.
03:34You can see everything, all these are what is within these inventories.
03:38So once you are done with that, and, all right, let's say you've, you want to add more stock to
03:46this solar panel.
03:47You started with a hundred, but you want to make it a thousand, and it's remaining now a hundred.
03:53So what you, that's where you come to the procurement model.
03:56This is the procurement model.
03:57Once you open it, you get an interface like this.
04:00Already have it open, just to make this class fast.
04:04So now, you can raise a purchase request.
04:09So there's what we call a purchase order.
04:12So once you've come to purchase, purchase, purchase request, sorry.
04:16Purchase request is requesting some, requesting an item that is needed.
04:21Raising requisition for, just to raise an awareness that you need an item.
04:26So let's use this, test, requesters name, test.
04:33Then once you are done, the purchase request date, uh, today, uh, expected delivery date.
04:39You can have this, if you need it, uh, let's say, Friday.
04:44Then you can select the vendor.
04:46That is going to be bringing these requests over.
04:53And also, the vendor, let's select the vendor.
04:57You can either select from an existing vendor, or you can just create from a, create a new vendor.
05:04Uh, let's use this.
05:09All right.
05:10So you can also select the delivery location.
05:12Or if you don't have multiple location, you can just leave it blank.
05:16It will pick yours automatically.
05:18Then also, you can pick from catalog.
05:21Now, you can pick from catalog of things that has been requested, or, you can just add an item.
05:28So to add an item, you select the item, which we are going to be selecting the solar panel,
05:33because we want to increase the quantity of the solar panel.
05:36So, uh, let me...
05:40So once you select the item,
05:44so when it's done, you just come down here and select, and select the solar, which is this.
05:50So, I'll select the solar.
05:52Now, the price in which, the purchase price in which we used the previous time to impute it on the
05:57inventory
05:58is going to show up here.
05:59Uh, then we can select the quantity of solar.
06:01Remember, we want to make it 100.
06:03So we have...
06:04We want to make it 1,000, 8,000.
06:06So we already have 90.
06:08Now 100.
06:09We already have 100 in the inventory.
06:11Let's select this.
06:12Units.
06:17Okay.
06:18So, this is the amount.
06:20We've selected the vendors up there already.
06:23So, you can select the priority.
06:25Uh, let's say, I'll...
06:27Depends on...
06:28Now, we can add more items.
06:31If you want to add more items, you can add more.
06:33But since we are only asking for one item, we'll go...
06:38Then we create a purchase request.
06:41So once you've created the purchase request, it comes down to all purchase requests.
06:46Then there, you can see it here.
06:47Uh, if you notice, you need...
06:49It needs approval.
06:52So once it has been approved, you...
06:56This contains the details of the request that has been made.
06:59Now, this is the approval summary.
07:01Meaning, we make our technologies have to approve it.
07:03Uh, which is this account.
07:05So you just come down here.
07:07Approve.
07:11So it has been approved successfully.
07:13Then the next thing is for us to convert it to...
07:16Is to a purchase order.
07:18All right, so that's purchase order.
07:20Means, this item has been requested.
07:24We've seen it.
07:25We approve it.
07:26So we need to send it to the vendor.
07:29To bring to us.
07:32So that is where you come down to convert...
07:35To purchase order.
07:38So since it has been approved, we just need to convert it to purchase order.
07:44Uh, so it should be down here.
07:48This is a purchase order.
07:49This is purchase request.
07:51So this was just done today.
07:54All right, this is it.
07:55So it has been converted...
07:56Once approved, it has been converted to purchase order.
07:58So we can come down to the purchase order.
08:01This purchase order is where you view it.
08:03Okay, this is the item that was requested for.
08:05So it needs approval.
08:07Uh, just approve it.
08:12So once it's approved,
08:15the next thing is for us to convert it to bill.
08:18And at this point,
08:19this is where we send the bill to the...
08:24So once it starts purchase order,
08:26which is here,
08:28you can then convert it to bill.
08:31So once you convert it to bill,
08:33remember it has been approved.
08:34It has been approved.
08:36Uh, once you just convert it to bill,
08:40then it goes straight down to the accounting department.
08:44With the account department.
08:48Uh, let's go down to account department.
08:50Remember, this accounting module.
08:53Where is it?
08:54Where is it?
08:55Where is it?
08:55This accounting module.
08:56You go down to the accounting module.
08:58You go down to bill.
09:00You go down to bill list.
09:06Then, this is it, yeah.
09:08So this, what it just needs to be done, yeah,
09:10it's just for it to be approved or paid
09:14by the accounting, account, account department.
09:18What you all need to do is just to add payment.
09:20So once they pay,
09:21they send it to the vendor
09:23that this item has been paid for.
09:25Then, you can come down to...
09:30Uh, let me see.
09:32Sorry.
09:35Then, you can come down to...
09:39The procurement module.
09:41Now, the vendor has brought the item
09:44just for you to approve it
09:47to show that, okay, you receive such items.
09:49So to do that,
09:50all you just need to do is receive goods.
09:52So once you come to the receive goods,
09:55uh, you click on new.
09:59So this is the part in which you receive the item
10:01in which you've already procured.
10:04You've ordered...
10:05You've made a purchase request.
10:07A purchase order.
10:08It has gone to the accounting.
10:09The accounting has paid for it.
10:10So you want to receive the item.
10:12So what you just need to do is just select the...
10:17...dates received.
10:19Then you can select the bill if necessary.
10:21Then you just need to select the purchase order.
10:24Remember, we created...
10:25We...
10:26Where is the purchase order?
10:28Uh, that should be this.
10:31Yes.
10:32So once you are done,
10:33it's auto-fill every other thing.
10:35This is the solar panel.
10:36Solar panel.
10:37The item quantity.
10:39Remember, it's one.
10:40Well, remember, we ordered for now-invert quantity.
10:42So at this point, you need to select the accepted quantity.
10:46If you select less than the accepted quantity,
10:48it's going to...
10:49You need to fill in, let's say,
10:52accept 80.
10:53So you need to show what happened.
10:56Was it...
10:57...rejected quantity?
10:59Accepted quantity 800.
11:01Delivered quantity was, let's say,
11:06800.
11:08So once this has been filled,
11:12this was...
11:12The vendor is onus 90...
11:16Sorry, 100 more of the quantity.
11:18So let's just set it to 900 for this class.
11:23The quantity delivered, 900.
11:28So once that has been done,
11:30you can add images if necessary.
11:32So recipients, you can add it.
11:34If necessary, who received it?
11:38Let me fill in that.
11:45So you can select who received it.
11:48Let's say for this training with David Johnson,
11:51we see with the staff that received it,
11:52then you can click on how to receive goods.
11:58So once that is done,
12:01this is, it's all year.
12:02Then you can go to your in-stock refresh.
12:12Then you can see the quantity has increased to a thousand.
12:16So that was how the procurement,
12:20the inventory, the accounting works.
