Inventory Module in CustomBooks™
Overview
The Inventory Module in CustomBooks™ provides tools for managing products, inventory quantities, warehouses, assemblies, adjustments, and inventory-related reporting. It works closely with the Sales and Purchases modules to keep inventory quantities updated as transactions are recorded.
To access the Inventory module, select Inventory from the left menu panel.
Inventory Feature Availability
CustomBooks™ Inventory can be viewed in two general levels of functionality:
- Basic/Core Inventory – Provides the essential tools for creating and managing items, inventory transactions, adjustments, and basic inventory reports.
- Advanced Inventory – Adds specialized inventory features such as Lots & Serial Numbers, Assemblies/Bill of Materials, Advanced Units of Measure, Backordering, Over-Receiving/Shipping, and Multi-location inventory.
Feature Comparison
Feature | Basic Inventory | Advance Inventory |
Item Management | ✓ | ✓ |
| Inventory Adjustments | ✓ | ✓ |
| Item Categories | ✓ | ✓ |
Units of Measure | ✓ | ✓ |
Basic Inventory Reports | ✓ | ✓ |
Locations | — | ✓ |
Multi-location | — | ✓ |
Warehouse Transfers | — | ✓ |
Lots & Serial Numbers | — | ✓ |
Assemblies / Bill of Materials | — | ✓ |
Advanced Units of Measure | — | ✓ |
Under-Receiving/Shipping and Backordering | — | ✓ |
Over-Receiving/Shipping | — | ✓ |
Advance Inventory Reports | — | ✓ |
Note: Advanced Inventory features are intended for businesses with more complex inventory, manufacturing, tracking, and location-management requirements. The availability of specific features may depend on the Inventory Settings configuration.
Inventory Features and Functions
The Inventory module is organized into the following sections:
- Documents
- Lists
- Reports
- Tools
- Settings
Documents
The Documents section provides access to transactions used to manage and adjust inventory.
- Warehouse Transfers – Move inventory quantities between locations or warehouses while maintaining accurate stock records.
- Inventory Adjustments – Increase or decrease inventory quantities to account for discrepancies, damage, loss, corrections, or other inventory changes.
- Assembly Builds – Record the production of finished goods from their components, raw materials, labor, or sub-assemblies. Inventory quantities are adjusted when an assembly build is posted.
- Disassemblies – Break an assembled item back into its component items and update inventory quantities accordingly.
- Serial Numbers Adjustments – Make adjustments to inventory items that are tracked individually by serial number.
- Lots Adjustments – Adjust inventory quantities associated with specific lots or batches.
Lists
The Lists section contains the master records used to organize and manage inventory.
- Items – Create and maintain products and services that can be purchased, sold, or used in inventory transactions. Items can be assigned to multiple locations and may use different units of measure.
- Locations – Define where inventory is stored, including warehouses and more detailed areas such as sections, rows, or bins. CustomBooks™ supports flat or hierarchical location structures.
- Unit of Measure Sets (UoM Sets) – Group related units of measure and define their conversion factors, allowing businesses to purchase and sell inventory using different units while keeping quantities accurate.
- Units – Define the individual units of measure used for purchasing, selling, and tracking inventory.
- Item Categories – Organize inventory items into categories for easier management and reporting.
- Product Conditions – Define and manage the conditions that may apply to inventory products.
- Characteristics – Create attributes or characteristics that can be used to further identify and classify inventory items.
Reports
The Reports section provides information for reviewing inventory quantities, activity, valuation, and item tracking.
- Inventory Item Quick Report – Provides a quick view of information related to selected inventory items.
- Item Activity Report – Displays inventory-related activity and transactions for items over a selected period.
- Item Activity Report (Previous Version) – Provides access to the previous version of the Item Activity Report.
- Quantity on Hand by Location – Shows the quantity of inventory currently available at each location.
- Inventory Valuation – Provides information about the value of inventory based on the inventory quantities and applicable costs.
- Inventory Stock Status by Item – Helps review the current stock status of inventory items.
- Serial Numbers on Hand – Shows serial-numbered items currently recorded as being on hand.
- Additional Reports – Provides access to other inventory-related reports available in CustomBooks™.
Tools
The Tools section provides additional features for managing inventory costs and transactions.
- Item Last Costs – View the most recent costs associated with inventory items.
- Multi-item Inventory Adjustment Entry – Make inventory quantity adjustments for multiple items through a single entry.
- Extensions – Access inventory-related extensions and additional functionality available in CustomBooks™.
Settings
- Inventory Settings – Configure inventory-related options and behaviors, including advanced features such as multi-location, Lots & Serial Numbers, and Assembly/Bill of Materials.
Advanced Inventory Features
Advanced Inventory provides additional capabilities for businesses that manufacture goods, manage complex inventory, or require detailed tracking of inventory, costs, waste, and stock status. These features can also work together with multi-location, project, and class functionality to support more complex business operations.
Lots
Lots allow businesses to track inventory by batch or group. A lot number can be assigned to multiple items, making it useful for product traceability. In CustomBooks™, lots can be recorded when purchased inventory is received and assigned during assembly builds for manufactured products.
Serial Numbers
Serial Numbers provide unique identifiers for individual inventory items. They can be used for inventory tracking, warranty management, and product traceability. Serial numbers are assigned upon receipt and tracked when items are dispatched through shipments or invoices.
Assemblies / Bill of Materials
Assembly/Bill of Materials (BOM) allows users to define the components, raw materials, services, labor, and sub-assemblies required to produce a finished item. This feature is particularly useful for manufacturing and helps track the materials and costs associated with producing finished goods.
Advanced Units of Measure
Advanced Units of Measure allows inventory to be purchased, sold, and tracked using different units of measure. Conversion relationships can be defined to maintain accurate inventory quantities.
Under-Receiving/Shipping and Backordering
Under-Receiving/Shipping and Backordering allows businesses to process quantities that are less than the quantity originally ordered and track the remaining quantity that still needs to be received or shipped.
Over-Receiving/Shipping
Over-Receiving/Shipping supports situations where the quantity received or shipped is greater than the original ordered quantity.
Multi-location
Multi-location allows businesses to track inventory across multiple warehouses and detailed locations. Locations can be organized hierarchically, including areas such as warehouse sections, rows, and bins, providing more detailed control over where inventory is stored.
Summary
The Inventory Module in CustomBooks™ provides the core tools needed to manage inventory items, quantity adjustments, and inventory reporting. Businesses that require more advanced inventory control can use Advanced Inventory features for lot and serial number tracking, assemblies and BOMs, advanced units of measure, backordering, over-receiving/shipping, and multi-location inventory management.
This combination allows CustomBooks™ to support both basic day-to-day inventory management and more complex inventory and manufacturing operations.