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Inventory Style Tab

Action: RETLINV

This form is where inventory information pertinent across all SCW (SKUs), retail & rental, is maintained.

Fields

Style code...This is a unique number you assign each inventory item in your store. When entering new inventory items into ProfitSystem®, this will be the first piece of information requested. This is also known as store style number. The style code for an item must exist in inventory before you can sell the item. This style code will be printed on sales receipts, reports, etc. ProfitSystem® will auto-generate sequential style codes if the option “Generate sequential style codes for new inventory is checked in System/Store Setup - Options Tab. When the system generates style codes, it will insure that the style code does not match an existing one, or a barcode, UPC, or SKU.

We do not recommend using the manufacturers style code for your store style code since multiple vendors may use the same style code and the ProfitSystem® code must be unique.

A style code can only contain letters, numbers, and $, %, *, -, +, /. It cannot contain “, ‘,[ or ].

Note For NON WinTPOS customers (those running just ProfitSystem). You may offer tuxedo rentals, but do not wish to invest in the full tuxedo WinTPOS rental POS tracking module. However, these customers would like to perform some tracking of the rental customers. Refer to the topic 'How do I rent Tuxedos' with ProfitSystem for information concerning this process.

Change Style...This button allows the user to enter a new store style number. All references to the current style, on Purchase Orders, Tickets, etc. are changed to the new store style code.

Description...A general description of the inventory style. We do not recommend that you put color or size information in the description, since this style code and description will be used for sales of any size and color. This description will be printed on reports, sales receipts, purchase orders, etc.

Vendor style...The number placed on the purchase orders by ProfitSystem®. This is the number that the vendor understands and recognizes as a number for his or her merchandise. It is the manufacturer's stock number. A vendor style code can only contain letters, numbers, and $, %, *, -, +, /. It cannot contain “, ‘,[ or ].

Location...The store number where the inventory item was created. The store is the Store Number code entered in the System/Store Setup - Setup Tab. When you add inventory items, the store where the item was created is entered automatically.

Comments 1 & 2...You can add comments for each style code entered. The Ticket form will display the information for Comment 1 entered for an item when sold. This is helpful in reminding the consultant of any particulars concerning the item being sold. For example, you may wish to enter the available colors for an item in the Comment 1 field. Clicking the Comment 2 button will allow an unlimited number of details to be entered about the item. Comments 1 and 2 may be printed on price tags.

Note: Some shops sell SERVICE styles (non-tangible items) and add those items to Pickup Inventory as a lay away item. This is done for very specific accounting purposes. They wish to control the exact time when the revenue of those services are realized. However, if a pick-up inventory physical is done, those items will not be counted since they are not physically present. To solve this issue a user can enter in the style's Comment 2 line the characters PUPNODELETE. The will prevent these styles to be automatically removed from pickup inventory when a pickup physical is applied.

Vendor...This is the unique code you assigned each vendor in your vendor file. ProfitSystem® will not let you save the retail inventory item without a vendor code. If you've forgotten a vendor code, press the lookup button when the field is highlighted to have the system display all the vendors and their codes. Vendor information must be entered prior to entering your retail inventory.

Qty on hand...A calculated field. This will show your total quantity on hand, which is the total of the quantity on hand for all the sizes/colors/widths and stores. You cannot change this quantity here, you must change the quantity on hand for a specific size/color/width, and this qty will be updated automatically. When items are sold from stock on the sales ticket the qty on hand is automatically reduced by the number sold. The inventory QOH will never enter into a negative amount.

Qty on stock orders...This will display your total quantity for this style that is pending (PO items created but not ordered) or outstanding on stock purchase orders. Double click the field to display the PO item form for the details of what specific SCWs are on order or listed to be ordered.

Date discontinued...Upon notification from a vendor that an item has been discontinued, you can enter the discontinued date in this field to indicate that this particular item has been or is soon to be discontinued. If a consultant sells an item that has had a discontinued date entered for it, the Ticket form will display a message indicating the item being sold has been discontinued. When a inventory item is discontinued, it will not be listed in inventory style lookups for entry onto rental orders, however the style may be manually entered. This is effective with the integration of the optional WinTPS/WinTPOS rental modules

Accounting class...The accounting class tells ProfitSystem® how to account for the money related to this item. Ultimately, it controls how revenue appears on the Revenue Report. The revenue numbers from the Revenue Report then correspond to entries in your accounting software. Accounting classes are not meant to be used to break down your sales for analysis purposes. If you want to analyze your sales, you can use Inventory Categories, discussed below. You may have one accounting class for Bridal, which tells ProfitSystem® that revenue from sales of Bridal items shows under bridal on the Revenue Report, partial payments should show under Deposits, and that these items are taxable. You may have another accounting class for Freight, which indicates that revenue for shipping charges shows under Miscellaneous on the Revenue Report, partial payments show under Deposits, and that it is not taxable. Accounting classes must be entered prior to entering your retail inventory.

ProfitSystem® will automatically create accounting classes for each inventory category you create, so you should create your inventory categories before entering your retail inventory, then simply use the same code for the inventory category and accounting class.

Inventory category...Categories are used to group inventory items by their “type”. Examples of categories would be: Bridal gowns, bridesmaid dresses, shoes, jewelry, alterations, etc. Several sales reports will show sales by category. Also, the Revenue Report uses the category code. Sub-categories are further breakdowns of a main category. For example, you may have a main category for bridesmaid dresses with sub-categories representing different “value levels” of bridesmaid dresses. Inventory categories must be entered prior to entering your retail inventory. The category RENTAL is a system defined category used for rental transactions. It cannot be assigned to any retail inventory items.

Season Code...Many vendors ship items that are specific to a particular season. You can create a code for each season and enter it here. The season code must had been previously created in the Season Code form.

Retail factor % and plus...The retail factor percent will determine the retail selling price of this inventory item. For example, if you want to double an inventory item’s cost, enter 200 in this field. ProfitSystem® will take the number entered into the Cost of Sample (or Reorder Cost, if present) and multiply it by the retail factor. The result will become the retail selling price for that item. This field's default value is determined by the retail factor percent for the category OR vendor, either entered previously, but may be overwritten with any amount you like. A Retail Factor entered for the vendor will overwrite any factor entered for the category. The optional Plus field lets you add a specific amount to the retail selling price for this item. For example, if an item’s cost is $50.00, the retail factor is 200%, and the Plus entry is $1.99, the system will create a retail selling price of $101.99.

Store Group... Optional multi-store feature that allows inventory to be seen and sold by stores assigned to the same group as the inventory styles. See Store Groups topic for more information.

Markdown date...This date is manually entered to indicate when a markdown was created for the inventory item. The markdown can be in the form of a never ending Promo Price or by a Direct change of the Retail Selling price 1 or 2. The Inventory Not Sold report can utilizes this date.

Size/color/2nd color/3rd color/4th color/width chart...These fields are the vendor size, color, and width charts that apply to this item.

The 2nd color chart is usually used for an accent color. Use of these charts is optional. However, charts are tools for 1) Displaying on hand quantities in a spreadsheet format 2) Allows users to pick items to be sold from a spreadsheet format while in a Sales Ticket 3) To order stock merchandise in the PO module and 4) Enforce valid Size, Color & Widths are sold on a sales ticket. The utilization of charts is a time saver and can reduce errors.

Size,color, and 2nd, 3rd and 4th color charts are used for the e-commerce upload. The options in the charts become the options a customer can select when ordering the style on the e-commerce site. There are several System Setup options that effect chart use. Also review the topic Ticket Details - Grid for more information.

Note:

To save time with initial inventory set-up, create a size chart by category. The category chart would contain all the sizes any item could have within the category. This reduces the number of uses of the size chart, but still provides some benefit until more accurate charts for each vendor and/or style may be created.

Size, color, and width charts can be added to inventory styles anytime.

Color 1, 2, 3, 4 Name... These are optional captions for the 4 available Color Fields in the Color Popup window that appears when entering the Color for the sale of the item on the Sales Ticket. These captions will also appear in the Color Popup on the

Size, Color, Width (SCW) window when entering the Inventory item. Normally the captions on the fields in the Color Popup window would simply say Color 1, Color 2, Color 3 and Color 4.

The Color Names here are designed to be used for any Inventory items that may have one or more additional components (up to 3) that may be offered in colors that are different than the predominant color of the overall item, to identify the additional component 'accent' colors. Color Names here are entered on a per-Inventory-Item basis.

For example, let's say you have a dress that is available with a Belt, Lace and Overlay, and all 3 of these are available in colors that are coordinating, but different than, the predominant color of the dress. You could then enter the following in the corresponding fields:

  • Color name: Dress
  • Color 2 name: Belt
  • Color 3 name: Lace
  • Color 4 name: Overlay

When you do this, the Color Popup window for the Inventory item at the time of the sale and when adding stock on the SCW screen for the item would display and you can enter the colors.

In addition, if you were to sell this item and mark it to be Special Ordered, these captions appear on the printed Purchase Order. This identifies to the employee ordering the item AND to the Vendor the special accent colors for the components.

Notes, show at sale?...Click the Notes button to enter notes about this style code. You can enter an unlimited amount a text regarding this style code here. If you want these notes displayed at sale time, check the Show at sale? checkbox. This is similar to Comments, except that comments are always displayed.

eStyle id...The master eStyle Id number, used to synchronize QOH with eStyle Central. This is set automatically when the style is downloaded from eStyle Central.

Update QOH on eStyle...Sends the current QOH for all the sizes/colors of this style up to eStyle Central. This will update the QOH for the ecommerce store hosted at eStyle Central.

Attributes...Each style code can have up to five attributes. By default, the first 3 attributes are the Silhouette, Sleeve, and Length. The attributes are optional. They are used on the F5 Inventory Search, as well as the Size Breakdown Report. The attributes can be configured at Setup->Retail Inventory->Attributes.

Reorder cost...This is wholesale cost to reorder a new item. This amount can be different from what was originally paid for the sample or 'in-stock' item. When you sell an item, the reorder cost is used for the cost if it is a special order.

If it is a stock sale, the receive history is consulted to determine the cost. If inventory costing is set to FIFO, then the cost of the oldest item still in inventory is used. If it is set to FIFO, then the cost of the most recently received item is use d stock sales. If, according to the receive history, there are no more items in inventory ProfitSystem will use the reorder cost.

Sales Cost Tip

ProfitSystem will record the cost of sale on a SALE based upon these rules.

1) The Default method (no setting required) is:
a) A item sold from stock will record the Average Unit cost of the item found on it's receiving as the cost of sale - based on system setting COSTFACTOR can be in play as well. b) A item special ordered will record the reorder cost as the cost of sale.
2) Custom Settings in Housekeeping-> General Setup-> System Setup -> General/Clock Tab->

a) Apply Vendor discount to cost at sale time? This option will apply the vendor discount to the both reorder cost for special orders and the Unit Cost of stock sales for recording the cost of sale 
b) Use Average unit value for stock sale cost? This option, when enabled the system will apply any applicable COSTFACTOR formula to the Unit Cost of Sale when the item is sold from stock.

Cost is utilized for Cost of Sales (COS) and Margin computations.

Pickup Inventory Reports have additional business logic pertaining to Cost/Values that are reported. See each Pickup report explanation for additional details.

For a general cost description please refer to the How is Cost & Value computed help topic.

Base price 1 & 2...Retail is the retail selling price of this inventory item. The system calculates this number for you by multiplying the Retail Factor Percent times the Cost of Sample (or Reorder Cost, if present), then adding the dollar amount in the “Plus” field, if any. You can overwrite this number if you wish however, if you go back to this item,change something and press the save button, ProfitSystem® will recalculate the base price using the default calculation. ProfitSystem® allows two retail prices for each inventory item. When the item is being sold to a customer and has two retail prices entered, the consultant will be prompted for the correct one to charge the customer. The price must be rounded to .05 if the option “Include tax in price on style lookup, ticket grid, and receipt” is checked on the Options tab of System/Store Setup. This is normally only enabled for Australian users.

Markdown Price 1 & 2...When there are promotional prices in effect the resulting new selling price will be displayed in the Markdown Retail Price 1 & 2 fields. You can double click on this field to show how ProfitSystem® is computing the markdown price.

See How do I adjust selling price for more information.

Gross Margin 1 & 2...ProfitSystem® tracks the gross margin of an inventory style. This number is automatically calculated for you. The formula for computing gross margin is: (Markdown price - Cost) / Markdown Price * 100

Stocked in store?...If checked, this setting indicates this item is normally stocked.

Service/not inventoried? (checkbox)...If checked, this setting indicates that this item is not a tangible item that can be counted for inventory physicals. Quantities not required, but still requires that a size is entered, i.e. NA. During a physical items with this field checked does not show up on the exception report as not counted.

Hide on Sales Reports? (checkbox)...If checked, This item will not be included in the Sales by Category, Sales by SA, Sales by Vendor & Sales by Vendor Style sales reports.

Advertised? (checkbox)...If checked, indicates that this item is advertised by your shop or you are listed in a magazine for the dress. This feature allows analysis of the effectiveness of your advertising. You would need to run the customer source analysis report to analyze your advertising success.

Inactive? (checkbox)...If checked, does not allow a user to sell this item on a sales ticket.

Modified? (checkbox)...Normally, the system automatically checks this box if any changes have been made to an item that had been saved previously. It works in conjunction with the Mass Tag Printing function, which can automatically print Garment Tags for all Inventory items with a status of 'Modified'.

Show notes at sale?... Enabled, this option will display the entered notes (if any) when this style is entered onto a ticket.

Buttons

Picture button...You can store pictures of your inventory items. This button displays the Images form, where you can insert pictures, view them, and delete them if you need to. Pictures may be acquired via various methods. Examples are: use a TWAIN compatible device connected to the computer like a camera or scanner to capture the pictures OR download pictures off the internet from magazines like Brides or The Knot (make sure all copyright laws are obeyed).

Size matrix button...Displays a matrix using the sizes and colors of the selected charts OR if no charts are entered, the system will create a matrix using the SCW sizes, colors & widths entered for the style. The matrix then shows the quantities on hand for each size/color/width. You cannot change or add to the existing quantities in the matrix. This button is only enabled if you enter a size, color, and/or width chart for this item.

Inventory creation Hint

A user may quickly add the sizes and colors and quantities when adding a style for the first time. Add the style and include it's size and color chart. Click the SIZE MATRIX button and the style's matrix will appear. Click into the size/color cell and enter the quantity on hand for each size / color combination. ProfitSystem will automatically add the size & colors with the quantity entered into the styles SCW form. This is available only once. After the initial load, new sizes & colors with quantity are added via the style's SCW form.

Rental Inventory

The Size Chart may be used to add Rental inventory size scales quickly with the optional WinTPOS software module installed.. It will create a size and a single receive history entry for every size in the size chart entered for this style. The QOH will be set to zero for the new sizes added via the Inventory-> Rental tab-> Create Sizes from Chart button

SCW button...Displays the SCW form, which shows you all the sizes/colors/widths available for this style code and the receiving history for each size/color/width.

SCW statistics button… This will take you directly to the statistics form that shows all of the MTD, YTD, and life sales figures for all of the size, color and width entries. The figures correspond to the highlighted line in the list.

Transfers button...Only available with ProfitSystem ® Multi-Store Integration. Displays the Inventory Transfers form, only showing transfers for this style code. This button will turn BLUE when ANY transfers are on file for the style.

Extra Charges button...Displays the Extra Charges form, only showing extra charges for this style code & allowing new extra charges for this style to be created. The extra charges can be selected from a list or automatically applied at the time of sale.

Receiving History button...Displays the Receive History form, showing all entries for this style code only.

Promotional Pricing button...Displays the Promotional Pricing form, only showing pricing promotions for this style. Allows new promotions to be created.

Notes button... Displays a note window where miscellaneous information pertaining to this style may be created.