Orax SDI Cloud Reference

 
  1. Introduction
  2. Self-Management tools
  3. Communication and Content management
  4. Sales and Customer Relationship Management
  5. Services & Service level management
  6. Billing and customer statements
  7. Inventory & Asset management
  8. Production management
  9. Human Resources and Payroll
  10. Procurement and Supply chain
  11. Ledgers & Accounting
  12. Reporting and Analytics
  13. Administration & configuration
  14. Business Improvement
  15. Development and Process management
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Inventory and the GL Inventory

In Orax SDI, the Inventory refers to Products sold on Sales Invoices and purchased on Purchase Invoices. Before you can start selling on Orax SDI, you have to have items in your inventory to add to Sales Quotations, Orders and Invoices.

Buying and selling items means that you also need to manage these items. In Orax SDI you can manage your Inventory and ensure proper efficiency and checks-and-balances in this important part of your system. You can order on demand (based on Sales Orders), use MRP Orders or manually create Purchase Orders to replenish inventory levels.

The inventory is also required by the General Ledger to manage Cost-of-Sales and inventory asset accounts. This means that financial documents, Journals, ledgers and other reports make use of the Inventory. The inventory is used to manage Products and Services as services are also seen as logical (not physical) accounts. The Orax SDI Inventory actually contains more than just Products and Services. There are accounts that belong to the General Ledger (accounting) which are stored in the same records as the inventory.

When you start on Orax SDI you have to create all your Products and Services in the inventory. To make the transition simpler for you, we've provided the option of importing the inventory (Services or Products) from a spreadsheet. See Importing inventory items for more detail. You may also make changes to the inventory using the provided online tools or by exporting to spreadsheet, changing the detail and re-importing the updated inventory.

Each inventory item (product or service) has 3 standard price lists; List price, Discounted price and Minimum price. You may use only the List price, but the others are available to structure discounting and ensure a minimum price is enforced. Additionally you may create an unlimited amount of extra price lists. These are configured with a name and a variation from the list price. Eg. "ABC Price list" --> list price less 10%. If needed you may also import custom prices for custom price lists. Custom price lists may be linked to customer accounts, to ensure that certain customers always buy off the applicable price list. These extra/custom price lists are also available in sales documents to facilitate easy discounting and price selection. Each price list have options for region and account type to further facilitate default price list allocation based on the criteria available in the customer account.

To manage your Inventory, go to "Company setup --> Products / Services" (or to Inventory). Making adjustments to the inventory can be done by using the "Adjustments" options. Always remember to backup your inventory before you make changes. This will allow you to restore the old inventory, should you find that the changes were incorrect.

Orax SDI makes use of the Gross Profit Margin calculation to assist you while discounting prices. This calculation allows safer discounting than using Markup calculations.

Remember to correctly configure the "VAT" options for an item in the inventory, to ensure that each product's GP is correct and that you sell inclusive or exclusive of VAT.

The Orax SDI system will automatically assign a GL Account for each product/service unless you specify one manually. This means that each product or service will have its own GL Account. It is best practice to let the system assign the GL account number under the 7700/000 account.

The inventory can be enhanced with new fields or field name changes. Just like other records in Orax SDI, you may enhance your inventory to cater for additional data. For more detail about enhancing your inventory, please contact Orax Support. Please note that the more you extend your inventory, the more difficult it will become to maintain, so keep it as simple as possible.

 

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