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Next Generation - Populate the Settings Tab for a stock record

A guide to populating the Settings tab on a stock record, covering transaction defaults, intrastats, barcodes, and VAT settings.

On the Settings tab, you can set up intrastat information, barcodes and bin numbers as well as setting your stock record to be inactive.

Populate the settings tab for a new stock record

  1. Click Stock then click Stock Records.
    ​Note: All stock records are displayed. You can narrow down your search using advanced filters.

  2. Click + New Stock at the top right hand-side of the Stock Records screen.

  3. Click on the Settings tab and enter the relevant details and once you are done, click Save.

Note: You will have to enter a stock code and possibly a description too depending on the way your database is set up on the Details tab of the stock record before you can save.

The Settings tab contains four different sections which are:

  • Transaction Defaults

  • Intrastats

  • Stock

  • VAT

For more information on what the fields are in each section, please refer to the table below.

Populate the Settings tab for an existing stock record

  1. Click Stock then click Stock Records.
    ​Note: All stock records are displayed. You can narrow down your search using advanced filters. You can also search on the columns directly by pointing the mouse to the name of the column and click on the

    image.png

    icon and choose from the available filter list, then click OK.

  2. In the Stock Code column, click the hyperlink, the underlined text.
    ​Note: The Action Panel automatically opens from the right-hand-side of the screen. You can close the panel by clicking on the arrow

    image.png

    icon on the right-hand side middle of the screen.

  3. Click on the Edit button at the bottom of the screen to set the record into edit mode, then click the Settings tab and enter the relevant details and once you are done, click Save.
    ​

Each section is explained below

Section

Description

Transaction Defaults

  • In the Transaction Defaults section, you have the following options:

    • Sales Analysis

      • All sales ledger stock type analysis records are listed.

    • Purchase Analysis

      • All purchase ledger stock type analysis records are listed.

    • Movement In Analysis

      • All purchase ledger stock type analysis records are listed.

    • Movement Out Analysis

      • All sales ledger stock type analysis records are listed.

Intrastats

  • You can set up intrastat information against your stock record in this section.

  • Commodity Code

    • Allows up to eight numeric characters. Commodity codes are internationally recognised reference numbers used to classify goods when importing or exporting. They universally identify products and determine import/export duties, VAT, licensing requirements, and compliance with regulations. Using the correct code ensures accurate tax/duty calculation and confirms legal compliance for customs authorities.

  • Origin

    • A list of all countries that are set up in your database, including all EU countries as well as any manually created non-EU countries. You can select from the list by clicking on the drop-down arrow or manually type in the first characters of the country code.

  • Weight (kg)

    • Numeric data entry field.

  • Supplementary Units

    • Numeric data entry field.

  • Type

    • Allows up to 20 alphanumeric characters

Stock

  • In the Stock section, you can set up barcodes, bin numbers, your maximum and minimum quantities as well as set a stock record to be inactive.

    • Barcode allows up to 20 alphanumeric characters.

    • Bin Number allows up to 15 alphanumeric characters.

  • The Inactive toggle is set to off by default and you can set it to be on to make your selected stock item inactive.

    • Note: There are certain rules on when you can and can't set a stock record to be inactive. For more information, please refer to our Set a stock record to be inactive article.

VAT

  • Reverse Charge VAT (domestic use only)

    • When this checkbox is selected, it indicates a transaction where the buyer, not the seller, is responsible for accounting for the VAT.

  • Service (EU use only)

    • All stock records for which EU Reverse Charge VAT for supplying services is applicable, should be flagged.

Note: The two options are mutually exclusive - only one can be selected at a time. Please refer to HMRC for full list of VAT rules.

To populate the Custom tab, please refer to our Populate the Custom tab for a stock record article.


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