Create a new inventory

When you are ready to start a new inventory period (you have completed your last inventory period), you need to create a new inventory file. If this is your very first inventory period (see entering inventory) and start with that help doc. After you complete your first inventory period, you will always create a new inventory from that point on using your last inventory periods file.

Let's create a new inventory file.

To begin a new inventory period, you need to open your previous inventory period's file. This is important, because the ending inventory numbers of your last inventory period are always going to become the starting inventory numbers for your new inventory period.

With your last inventory period's file open, first make sure that it is complete. Confirm that all inventory data from the previous inventory period has been entered and your ending inventory numbers are final. If it's good to go, from the dashboard, click on "Create Inventory". When the dialog box opens, click "Create".

Bar Cop create a new inventory 1

Bar Cop has now created your new inventory file.

You should immediately save the new file with a different name for the new inventory period (if you save as the same name you will override that last inventory period's file data) and then enter the new inventory period dates where prompted.

Bar Cop create a new inventory 2

What took place when creating the new inventory file?

In "Analytical Reports" under usage data, the ending inventory numbers where transferred to the starting inventory column in each category and are now ready for your new ending inventory data to be entered.

Bar Cop create a new inventory 2

All of your previously entered inventory numbers, adjustments, and purchases were deleted making the new file ready to enter ending data for your new inventory period.

Bar Cop create a new inventory 2

The inventory process...

Step 1: Open your previous inventory period's file (make sure it is complete).

Step 2: Click "Create Inventory" on the dashboard.

Step 3: When the process is complete, save the file as a new name and enter the new inventory period dates.

Step 4: Enter your new ending inventory numbers, purchases, and adjustments when ready.

Step 5: Checkout the analytical reports and profit/loss reports (to compare register sales).

Step 6: Save the file after making any changes, keeping the same file name.

Step 7: Start over with step one to begin your next inventory period.

Things to know:

1) The inventory process steps are the same whether you are taking inventory daily, weekly, bi-weekly, or monthly. *If you take inventory daily, you enter purchases in the inventory file created on the same day that you add them into your stock.

2) Once you create a new inventory file, the action cannot be undone. If you created a new file by mistake, close the file without saving.

Have any questions? Comment below or contact us.
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