IBIS Technology

New screen coming in 2025!

The Stock management screen is the central hub for managing all stock movements in IBIS. It brings together purchasing, receiving, transfers, credits, and adjustments in one place, giving you a complete view of your stock movements. 

Accurate data entry here is key — IBIS calculates stock value using the Weighted Average Unit Value (WAUV) method, which determines the average cost per unit across all items on hand. 

TABLE OF CONTENTS

• Getting started
• Access and permissions
• Set up minimum quantities for your stock items
• Purchase stock
• Receive delivered stock
• Transfer stock between locations
• Process a stock credit
• Adjust stock units
• Delete a purchase/credit/transfer or adjustment
• Manage consignment stock 
• Re-value the average unit cost of a stock item
• Best-practice tips
• Manage negative stock warnings

Getting started

Follow the steps below to get started using the IBIS Stock system.

1. Ensure your retail suppliers are set up in the system. If the supplier is not tax-registered, enable the non-tax-reg setting to prevent GST from being calculated on purchase orders. Stock suppliers do not require an account.
2.  Set up or import retail items for each supplier.
3. Purchase the stock into your system for each supplier. Ensure item costs are set correctly for each item.
4. Print labels for your stock items.  

If you were selling stock items through POS before using the IBIS Stock module, your stock system will be in a negative balance. Ensure you complete an adjustment to reset all your stock values to 0 BEFORE you complete a purchase. 

Access and permissions

By default, any user who can open the Stock management screen can perform all stock functions (purchases, receiving, transfers, credits, adjustments, and deletions within allowed status rules).

Control Options (via System Settings > Stock Management):

• Allow non-stock items in purchase order – Enables inclusion of non-inventoried items, such as perishable café goods, in purchase orders.

• Restrict credit note functions – Limit credit note creation to specific users by entering their user codes as a comma-separated list. Leave blank to allow all Stock Management screen users.

• Use Approval Required locking – Adds an Approval Request stage to purchase orders. Orders can then be marked as Approved before progressing, adding an extra control step.

Set up minimum quantities for your stock items

The minimum stock level is used as a trigger for reordering items (optional step).

• Set the Minimum units for each item in the Retail items screen.

• When using the Select Items – Less Than Minimum option on a purchase order, IBIS will automatically include any items with current stock levels below the minimum.

This helps you maintain consistent stock levels and avoid running out of key items.

Purchase stock

Follow these steps to complete a purchase order: 

1. Open the Stock management screen from the Stock menu.

2. Click Purchase in the bottom left-hand side of the screen.

3. Select the Supplier and Location from the drop-down menus, then click Create.

4. Add items using any of the following methods:

   • Add Items button and choose: 
     • All items for a supplier
     • Items below the minimum specified stock level (set per item in the Retail items screen).
     • Items below a specified amount
   • Scan barcode – scan the item’s barcode in the top-right field to add it to the order.
   • Editable row – click inside a cell in the blue editable row to add an individual item to the purchase grid. Tab through the cells until a new row is created to add more.
   • Remove items - click the X on the row to remove.

5. Enter the units and unit cost (the cost will default to what is set in Retail items, but can be updated here if needed).

6. Update the ordered date and enter a reference or note as required.

7. Click the Ordered button to set the status to ordered, then click Save.
   
   

   A Purchase order of status New can be edited and/or deleted (Functions button). Once a purchase order is set to status ordered, only the cost price can be modified. At delivered status, the delivered units and cost can be modified. If you make a mistake at ordered status, you must complete the purchase, then complete a credit to reverse it.

   
   

8. To send the order to the supplier, click Print options, then select Purchase Order. You can print to PDF then attach in an email to the supplier.
   

Receive delivered stock

When stock is delivered to your location, make sure that the items delivered match your original purchase order. 

1. Open the Stock management screen and find your PO by one of the following methods: 
   1. Supplier - filter for the Supplier to see all pending purchase orders.
   2. Status - filter the Status column on the right-hand side for 'ordered', then highlight the row to view.
   3. PO number - Enter the PO number directly into the top-right, then click Enter. 
2.  Change the status of the purchase to Delivered (the delivery date will default to the current date), then click Save.
3. The delivered column is now enabled. Enter the actual units received (if different) for the order. 
   • If your order is short or incomplete, you will be prompted to generate a new order for the remaining items on completion of the current order. 
   •  If too many units were received, confirm whether you will keep the units or call the supplier to issue a credit note for the items. (See the section Process a stock credit to learn how to credit a purchase).
4. Check/enter the unit cost (ex GST) for each item. 
5. Enter any discounts and freight costs (ex GST) relating to this order. The GST and Total cost will be calculated automatically and should match the total invoiced from the supplier.
   
   

   Freight/discounts can be reported on in Purchase order reports but these values are not automatically adjusted into your item costs. If you want to factor these in, you will need to manually adjust the item costs and leave the freight and discounts fields empty.  

   
   

6. Enter any references or notes relating to this order that will help you match the order to the supplier invoice.
7. Once you have finished, change the status to Completed and press Save. The completed date will be set to the current date, and the order status will automatically change to status Posted, provided the stock can be processed to the ledger without any errors.
8. If desired, click on the Print options, then select the Print labels button to print out labels based on the units in your order.
   
   

Transfer stock between locations

IBIS allows you to move stock around your business locations when required by completing a transfer. To complete a transfer, follow these steps:

1. Open the Stock management screen and click Transfer from the bottom-left.
2. Choose the location you would like to move stock from and transfer to from the droplist, then click Refresh.
   
3. The system will generate a unique Transfer ID. 
4. Enter the items to be transferred using one or more of the following methods:
   • Add Items button and choose (you can repeat the selection process as many times as required): 
     • All items for a supplier
     • Item group/subgroup
     • All items
   • Editable row – click the blue editable row to add an individual item to the purchase grid. Tab through the cells until a new row is created to add more.
   • Remove items - click the X on the row to remove.
5. Enter the units to transfer into the grid.
6. Fill in details at the bottom of the screen, such as notes if required.
7. Set the transfer to Completed, then click Save. The transfer date will be set by default; this cannot be changed.
   
   

Process a stock credit

A credit is used when you have received authorisation from a supplier to return goods. It is also used as a mechanism to reverse an incorrect purchase if you cannot delete it. You cannot complete a credit that will result in negative stock.

To credit an entire purchase order

1. Open the Stock management screen and find the purchase order you wish to credit.
2. Under the Functions menu, select Create credit note.
3. IBIS will generate the credit ID, populate the supplier and location fields, as well as the grid with the items and costs from the original purchase. 
4. Check the credit note details to ensure they're correct, then change the status to Completed.

Credit individual items

1. Open the Stock management screen and click Credit from the bottom-left.

2. Enter the Supplier and Location.

3. Enter the items manually into the grid. 

4. Enter a reference, such as Damaged goods, Purchase correction, etc, to identify the reason for the Credit.

5. In the note field, enter the credit authorisation from the supplier. 

6. The amount, subtotal (ex GST) and GST will be filled in automatically.

7. If applicable, enter the amount of Discount and Freight.

8. Change the status to Completed. The credit date will be set by default to the current date.

9. Press Save.

10. Print the Credit Note report from the Reports button and send it to the supplier with the returned goods.
    
    

Adjust stock units

If the stock has been damaged, stolen, written off, etc, you will need to process an adjustment to record this in the system and ensure you keep an accurate count of stock on hand.

1. Open the Stock management screen and click Adjust from the bottom-left.
2. Select a Location and type from the droplist box.
   • Stocktake – Used to update stock quantities after a stocktake.
   • Expire – For stock that has expired and needs to be removed.
   • Damage – For damaged or partially damaged stock that can no longer be sold.
   • Write-Off – For stock that is unsellable for any reason not listed.
   • Theft – For stock that has gone missing.
   • Uniform – For stock allocated for staff uniforms.
   • Marketing – For stock used for marketing purposes.
   • Shop Use – For stock consumed or used internally within the company.
   • Other – For any other reasons not covered above.
   • Stock Revaluation – Used when stock value needs to be adjusted (e.g. the wrong cost was entered for items).
3. Enter the items to be adjusted using one or more of the following methods:
   • Add Items button and choose (you can repeat the selection process as many times as required): 
     • All items for a supplier
     • Item group/subgroup
     • All items
   • Scan barcode – scan the item’s barcode in the top-right field to add it to the order.
   • Editable row – click the blue editable row to add an individual item to the purchase grid. Tab through the cells until a new row is created to add more.
4. Enter units to adjust as follows: 
   • Enter the variance into the Adjust units column. E.g. type a positive number (2) to increase units, or a negative number to decrease units (-2). 
   • Specify the actual units of stock on hand directly in the New column (not yet available).
5. To remove any unwanted items, click the X on the row or select the function Remove rows where current stock 0.
6. Fill in details at the bottom of the screen, such as a note. 
7. Change to status to Completed and press Save. The adjustment date will update to the current date on save; this cannot be changed.
   

Delete a purchase/credit/transfer or adjustment

You can only delete a stock purchase/credit/transfer or adjustment when the status is New. 

1. Open the stock transaction you wish to delete. 
2. Under the Functions button, select the Delete option for the appropriate stock process.
3. Select yes to confirm, and the stock transaction will disappear.
   
   

If you make a mistake at ordered status or beyond, you must complete the purchase, then complete a credit to reverse it.

Manage consignment stock 

With consignment inventory, the producer of the stock retains ownership until the items are sold to the consumer or consumed in the business. Consignment items are set up the same way as normal retail items, but they are associated with a Retail Supplier who has a retail type "Consignment" in the Contacts screen.

When you enter consignment items into your stock system, you create an adjustment, and your unit cost is left at $0.00 (provided you have not specified a unit cost price in the Retail items screen). This ensures that the consignment items do not inflate the COGS on your Stock value report.

Re-value the average unit cost of a stock item

There are situations where you may need to adjust the current weighted average unit value of an item. E.g. you have completed a purchase before receiving a final invoice from the Supplier, and the unit cost shown on the invoice is now different to your original purchase, or your accounts department wants you to write down the value of your current stock as it has been sitting around for too long.

To revalue the weighted average cost of an item(s):

1. Open the Stock management screen and click Adjust from the bottom-left.

2. Select a location and choose the type Revaluation adjustment.

3. Add items to the adjustment using one or more methods:  

   • Add Items button and choose (you can repeat the selection process as many times as required): 
     • All items for a supplier
     • Item group/subgroup
     • All items
   • Scan barcode – scan the item’s barcode in the top-right field to add it to the order.
   • Editable row – click the blue editable row to add an individual item to the purchase grid. Tab through the cells until a new row is created to add more.

4. For each item that needs to be revalued, type the required value into the Unit cost column.

5. To remove any unwanted items, click the X on the row to remove or select the function Remove rows where current stock 0.

6. Add a note to explain why you are doing the revaluation.

7. Set the status to Completed, then click Save.

You can check the current weighted average unit value of an item in the Stock on hand report.

Best-practice tips

Here are some practical tips, not strict rules, to keep your stock management system running smoothly and avoid common issues. 

1. Avoid negative stock balances: Try not to let your stock go into the negative. Negative stock balances can confuse the system and require additional transactions to correct.
2. Enter all items: Ensure that every item you intend to sell is entered into the system. This includes generating a purchase for items acquired from other sources within your organisation.
3. Complete adjustments promptly: the current units are set when the adjustment is created, so delaying the completion can lead to errors.
4. Complete purchases before display: Always enter purchases into the system before placing items on the shop floor for sale. This helps maintain accurate records.
5. Run stock reports after stocktake: After completing a stocktake, promptly run the stock value report to ensure an accurate representation of stock value, especially for month-end reporting.
6. Use barcode scanners and labels: Utilise barcode scanners and print labels from the system to ensure the correct items are sold. Train your staff to double-check sales to avoid mistakes.
7. Check purchase locations: When making a purchase, double-check that you are acquiring the item in the correct location in your system.
8. Manage giveaways: Keep track of items given away for prizes or donations. Make necessary adjustments in your system.
9. Consistent naming: Maintain a consistent naming convention for items, especially when dealing with different colours and sizes. This helps your staff verify they are selling the right item.
10. Inspect delivered stock: When receiving delivered stock, carefully check the items to ensure they match your order, particularly for similar items or variations like sizes and colours.
11. Promptly transfer stock: Move stock from one location to another in your system as soon as it's physically relocated.
12. Complete regular stocktakes: Conduct regular stocktakes, at least quarterly, to ensure that your system stock matches your actual stock. If a full stocktake is too much, consider doing it in subsets, like by supplier or item group. 
13. Review stock regularly: Keep a close eye on your stock:
    • You can check for negative stock using the Stock on hand report. Filter for items less than minimum, zero or negative.
    • Assess where your capital is tied up; is it in items with good turnover or items that are not selling well?
    • Avoid purchasing large quantities of items unless you are confident they are strong sellers.

Manage negative stock warnings

Accurate stock values are essential for calculating the Weighted Average Unit Value (WAUV) — the average cost per unit of all stock on hand. 

WAUV = Total cost of goods ÷ Total units available for sale

If you receive a negative stock warning while completing a stock transaction, it means the system has detected that the transaction would put one or more items into negative stock. This is a prompt to review the stock levels and confirm that the transaction is being processed at the correct value.

Follow the instructions for your transaction type below to resolve the warning. Once fixed, check our best-practice tips to help prevent negative stock balances in the future.

Purchase warnings

Click on a scenario to expand and view the steps to resolve the issue:

Credit warnings

Click on a scenario to expand and view the steps to resolve the issue:

Adjustment warnings

These warnings are more likely to occur if there’s a delay between when you start the adjustment and when you finish it. This is because the system uses the stock-on-hand quantity from the moment the adjustment was started, and in the meantime, items may have been sold through POS, reducing available stock.

Click on a scenario to expand and view the steps to resolve the issue:

Transfer warnings

Click on a scenario to expand and view the steps to resolve the issue: