How to Add, Edit and Delete Stock Item

Overview:

Stock items are the core components of your company’s inventory in QNE Software. These

include both tangible products like electronics, furniture, and clothing, as well as intangible

items such as digital downloads or services. Every quantity purchased or sold is automatically

tracked, making it crucial to properly set up and manage your stock items for accurate

reporting and transaction processing.

Scenario:

You’ve recently launched a business selling electronic gadgets and home appliances. As

part of your inventory setup, you need to register all items you plan to sell—such as mobile

phones, laptops, and air conditioners—in QNE Software. You also want the flexibility to edit

item details like pricing and deactivate or remove discontinued products from the system

as needed. This guide will help you do all of that efficiently.

Procedure:

I. How to Add a Stock Item

1.  On the navigation pane, select Stock, then click Stocks & Services.

2. Click the Add button and fill in the required fields:

Stock/Service # (Required) - A unique code assigned to the stock or service item (e.g., "ELEC001").

Stock/Service Name (Required) - The name or label of the item (e.g., "Bluetooth Speaker").

Category - Used to classify the item under a predefined stock category (e.g., "Electronics").

Alternate Name - An optional field for entering another recognizable name or nickname for the item.

Group - A grouping field for further classification or reporting purposes.

Stock Location - Specifies the physical or logical location of the stock (e.g., "Main Warehouse").

Further Description (Button) - Opens a section or pop-up to enter extended item details or specifications.

Class - Another classification field often used for internal tracking or categorization.

Account Preset (Required) - Links the item to default accounting accounts for transactions (e.g., DEFAULT sales and purchase accounts).

Purchase Price - The standard or default cost of the item, typically used as a reference when creating purchase transactions.

Last Purchase Price - The actual price paid for the item in the most recent purchase transaction recorded in the system.

List Price - The default selling price.

Min Price - The minimum allowed selling price.

Last Selling Price - The most recent selling price applied in a transaction.

Active (Toggle Switch) - Enable this to make the item available for use in transactions.

Stock Control (Toggle Switch) - When enabled, inventory levels are tracked for the item. If an inventory item is set with Stock Control (Active), the system tracks its quantity on hand. Once this item is used in a transaction—such as a purchase invoice, sales invoice, or stock adjustment—the system logs the corresponding inventory movements.

 2.1. When configuring the Unit of Measurement (UOM) for an inventory item, navigate to UOM tab to set up the following columns:

Code - Enter the name or label of the unit, such as UNIT(S), BOX, or DOZEN.

Description - Add any additional information to clarify the purpose or context of the UOM, such as "--BASE UOM--".

Rate - Specify the conversion rate relative to the base unit. The base UOM must always have a rate of 1.00000000, while additional units should reflect their actual conversion (e.g., 1 BOX = 12 UNITS)

Active - Use this toggle to activate or deactivate the UOM. Only active UOMs will be available in transactions.

Base - Mark this field for the primary unit used for inventory tracking. Only one UOM can be designated as the base.

2.2. To assign the Default Tax Code for an inventory item or service item, navigate to Default Tax tab, use the dropdown button select the Input and Output Tax:

 Purchase Tax Code (Input Tax) - Choose the tax code (e.g., SR-PNCD) for when the item is bought.

Sales Tax Code (Output Tax) - Choose the tax code (e.g.,) that  applies when the item is sold.

These codes will auto-apply in transactions using this item but can be adjusted manually if needed.

3. Once done, click Save or Save & Close.

II. How to Edit Stock Item

1. From the Stock & Services List View, click the item’s Code to open it.

The Search bar, sorting, and filter options are available to help you quickly locate or view specific stock items.

Sort by: Stock & Service # (Dropdown + Arrow) - Allows sorting the item list by various columns like code, name, or balance.

Status (Dropdown - Disabled) - Will filter the list by Active/Inactive status (disabled until available options are configured).

More Filters - Expands additional filter criteria (e.g., by category, group, etc.).

Column Options - Opens a panel to customize which columns are visible in the list.

2. Click Edit and apply any necessary changes.

3. Once done, click Save or Save & Close to update the item.

III. How to Delete a Stock Item

1. In the Stock & Services List View, tick the checkbox beside the item you wish to delete. Then, Click Delete.

2. When the confirmation message appears, click Confirm Delete.

Note:

• If deletion is restricted, consider marking the item as Inactive instead.

• Stock Control settings and deletion of stock items are only permitted if the item has no existing transactions. This restriction ensures data integrity and prevents inconsistencies in inventory records by safeguarding historical transaction data.

Example: You create a new stock item called Printer Ink and enable the Stock Control setting to track its quantity. Later, you use this item in a sales invoice. After the transaction is posted; the system will no longer allow you to change the Stock Control setting for Printer Ink, as it has already been used in a transaction. This prevents discrepancies between stock levels and historical records.

Application:

Once a Stock Item is successfully created, it becomes available for use in Sales and Purchase transaction forms. Keeping your list accurate ensures smooth processing and reliable inventory tracking.