Purpose :

The importance of proper inventory management can’t be emphasised enough these days. A good inventory system will provide high visibility of all items right down to the shelf and bin in multiple locations, if necessary. Inventory conversion feature in TruePOS provides a way to classify your inventory and achieve a successful inventory management.

Inventory Conversion allows to convert an an item (or)stock from one stock classification to another. The various stock conversions which pertain to a retail market are as follows:

• Trade - Refers to stock which are available for sales. A stock converted into Trade makes it available for sales. Example : All sale-able items like Mobiles, Headphones etc in a mobile shop and Fruits, vegetables etc. in a super market

• Demo - Refers to stock used for demo. A stock converted into a demo cannot be sold until it is converted into Trade again.

• Consumable - Refers to stock which are are self-used for business purposes and cannot be sold. Example : A Stapler or a pen, for which you maintain stocks to be sold, but 1 or 2 stock is alone meant for business consumption for billing purposes etc.,
  

• Assets - refers to stock class which are hold by the retailer as an asset and cannot be sold. Example : In a Super market, assets consist of shelving, lighting, refrigerators and other fixtures required to present the food.
  

Note : Based on your stock conversions you can create the 'Stock Take' from the menu 'Item Classification'. Added in FAQ Q3 'How to add new Stock Take'.

How to do Stock Conversion Entry :

Following are the conversions which are possible,

Note: 1. An item converted from Trade into any other stock class cannot be sold.

2. Stock converted in Inventory classification can be reverted back in the same screen by choosing from and To option

To make an Inventory Conversion follow the steps below,

1. In the Code field,

• Enter the item code or item description.

• Press ENTER or TAB to select the item from the LOV.

2. The Description field displays the item related information like an item name.

3. In the Quantity field, enter the item quantity.

4. The Sell Price, MRP and Net Amount are automatically displayed.

5. Click Save or press F6 to save the Inventory Conversion.

6. Click View or Press F7 to View the conversions done, the date when it was done and the corresponding conversion change.

7. Click Clear or press F9 to clear the entries.

8. Click Close or press F10 to close and navigate out of the Inventory Conversion Screen.

Note : For converting the stock from Trade to consumable, another process needs to be followed. Refer to the link Consumption Entry 

FAQ

Q1) Is there any reports to check the stock conversion?

Answer - You can check in Reports → Inventory → Stock movement → Stock conversion report

Q2) While trying to do the Stock Conversion from Trade to Assets, If you are getting "Ledger code not found for the value : Asset Details ledger" then what are the steps to be followed to convert the stock from Trade to Assets?

Answer - You need to map the Asset Ledger in Asset Ledger Map Screen for an item and try to save the same then only you will be able to do the Stock Conversion from "Trade to Assets"

Q3. How to add new 'Stock Take' option.

1. From Dashboard, Go to Master → Item → Inventory Classifications.

2. Click on 'Add Item Classification'

3. Enter the Stock Type name and status should be ACTIVE.

4. Click SAVE.