Why Akaunt is best for basic Inventory Management?

Akaunt provides you the capability to record inventory transactions without changing the way you do your business. It provides numerous predefined Inventory vouchers to suit your business requirements and flexibility to create unlimited stock items, use simple to complex conversion units and generate invoices with the required information and dimensions. Following are the some of salient features, which makes Akaunt best for basic inventory management.

• Flexible units of Measure
• Flexible Invoicing
• Unlimited Grouping & Categorization of Stock items
• Voucher Classes to expedite voucher Entry
• Separate Actual and Billed Quantities
• Gross Profits and Consumption Report
• Use Stock Item Names and / or Part Numbers
• POS Invoicing

Flexible units of Measure

The instances of stock items being measured in different Units of Measure are common. In Akaunt you can define multiple units as per your requirements. It is also possible that an item could be transacted in one or more units of measure, for e.g. Sugar is purchased in tons and sold in either kgs or packets. Akaunt allows you to transact in all the three units of measure for the same item. This configuration allows you to maintain stock items in both Main Units as well as Alternate Units. Akaunt allows creation of compound as well as alternate units for a stock item. You can define a Compound unit as a relation between of two simple Units, for e.g. create a compound unit namely, Ton of 100 kgs. You can view Stock Summary report in Tail Units also (here in this case, kgs)

Flexible Invoicing

In Akaunt, you have flexibility to invoice items or ledger accounts directly to generate sales invoices. The details that you can include or exclude in an invoice is based on the business needs for instance, you may want to print batch number, Manufacturing as well as expiry date, additional description for items, show discounts on the invoice and so on.

Purchase Invoices

Akaunt provides the option to enter purchase transactions in invoice format and hence entering vendor invoices is made easy. When you enter purchase detailw in the invoice format, the stock items selected are automatically updated in the stock summary. You can apportion addi- tional expenses, like taxes, freight etc., to stock items which affects their valuations.

Unlimited Grouping & Categorization of Stock items

Akaunt allows unlimited grouping of stock Items to Stock Groups or subgroups at any point of time. It also allows to categorize stock items based on their specific nature or type or brand in order to generate customised inventory reports.

Stock Group

In Akaunt, you can classify all common stock items to a single group, for instance Raw mate- rials, Components Consumables, Desktop computers, Scanners etc. Grouping of stock items facilitates effective and substantive reporting on stock items. In Akaunt, you can create unlimited levels of groups for in-depth analysis.

Stock Category

In many cases, you may want to classify stock items which are similar in nature but are grouped under different Stock Groups. Akaunt provides you a feature namely, Stock Categories, which allows parallel classification of stock items to separate categories besides grouping. For example, you may group Television sets of different sizes based on their size viz., TV's of 14 inches, 21 inches, 29 inches and so on. But however, if you require reports on, which brand sells more. In such cases, you require parallel classification of stock items to stock categories viz., Sony, Panasonic, LG, Samsung, Philips, etc. In Akaunt you can create stock items and group under the respective groups and parallely classify them under the respective Stock Categories. You could however, interchange the stock category or stock group based on your convenience and reporting requirements.

Voucher Classes to expedite voucher Entry

Akaunt provides an option to automate and expedite voucher entry with the help of Voucher Classes. You can use this facility for most voucher types (e.g. Payment, Receipt, Sales etc) to make data entry easier and faster. This facility acts as a control, to restrict users from choosing any other ledger accounts other than those to which the transaction needs to be posted and thereby minimizes errors during data entry.

For example, you may create Voucher Class under Receipt Voucher Type to automate Bank Receipts or Bank Payments under Payment Voucher Type. You will find the procedure for creating voucher classes for Bank Receipts is the same as that for Bank Payments. The only precaution is that during transactions, you have to enter the details on the credit side only.

Voucher Classes for Sales Invoice

Voucher classes for invoices can be used to significantly automate ledger entries where tax calcu- lations, additional charges, rounding off etc., are involved. You can also specify percentages for additional accounting allocations like taxes, freight and other charges. Based on the values / per- centages entered, the total amount is automatically calculated and prefilled in the respective fields.

Separate Actual and Billed Quantities

There are situations when you have to invoice the customer for a particular quantity but actually supply a different quantity. Akaunt allows you to handle such situations with the hlep of Use different Actual and Billed Qty option. Using this option, you can specify different acutally and billed quantities in the same invoice. The Actual quantity updates the stock balances and Billed quantities affect the books of accounts. This feature is widely used to record supply of free items. further, this option will be useful when you have to supply free item(s) for sale of a fixed number of goods or if you have to supply free samples to your customer.

TIP

The Actual Qty affects the stock balances while the Billed Qty affects only the Books of Accounts.

Gross Profits and Consumption Report

Consumption basically means, the quantity / value of materials used (consumed) in the process of manufacturing, selling or written off. Akaunt automatically tracks the movement of materials consumed. You can view the consumption report along with gross profit for every item.

Use Stock Item Names and / or Part Numbers

Stock items can be created in Akaunt by specifying their actual names as well as by their Part Numbers. This makes it convenient for many users dealing in certain industries (like Computer/ Automobile Industries) where items are generally identified by their Part Nos. You can also view reports for all stock items with their actual names or by part numbers or both.

POS Invoicing

A Point of Sale is either a retail shop, a check-out counter in a shop or any other location where sales transactions take place. Akaunt's POS feature is fully integrated with Accounts and inventory functions. You can POS Invoice with Cash and Credit/Debit card transactions and effec- tively manage gift coupons, vouchers, discount coupons etc. The POS feature in Akaunt enables you to print invoices in continuous or 40 column modes. It automates your data entry and calculations during invoicing. You can also generate standard and POS specific reports such as Cash Registers, POS Registers, and Inventory Reports etc.