How do you set up inventory shrinkage alerts and notifications in Pastel Accounting?

1 Enable inventory tracking

The first step is to enable inventory tracking in Pastel Accounting. This allows you to record and track the quantity and value of your inventory items, as well as their movement and adjustments. To do this, go to Setup > Company Parameters > Inventory tab and tick the box that says "Use Inventory". You can also choose the inventory costing method, valuation method, and rounding options that suit your business.

2 Set up inventory categories

The next step is to set up inventory categories in Pastel Accounting. These are groups of inventory items that share similar characteristics, such as type, size, or location. You can use inventory categories to organize your inventory, apply discounts, and generate reports. To do this, go to Edit > Inventory > Categories and click on New. You can enter a category code, description, and discount percentage for each category. You can also assign a default warehouse and bin location for each category.

3 Create inventory items

The third step is to create inventory items in Pastel Accounting. These are the individual products or materials that you buy, sell, or use in your business. You can enter the details of each inventory item, such as code, description, category, cost price, selling price, quantity on hand, reorder level, and barcode. To do this, go to Edit > Inventory > Items and click on New. You can also import or export inventory items from or to Excel files.

4 Configure inventory alerts

The fourth step is to configure inventory alerts in Pastel Accounting. These are notifications that warn you when your inventory levels are too low or too high, or when there are any discrepancies or errors in your inventory transactions. You can set up inventory alerts for specific inventory items, categories, or warehouses. To do this, go to Reports > Inventory > Alerts and click on Setup. You can choose the alert type, criteria, and frequency for each alert. You can also specify the recipients and the delivery method of the alert, such as email, SMS, or pop-up.

5 Run inventory reports

The fifth step is to run inventory reports in Pastel Accounting. These are documents that show you the status, value, and movement of your inventory, as well as any shrinkage or variance that may occur. You can use inventory reports to analyze your inventory performance, identify any problems, and take corrective actions. To do this, go to Reports > Inventory and select the report that you want to run. You can customize the report options, such as date range, filters, and columns. You can also export or print the report.

6 Adjust inventory levels

The sixth step is to adjust inventory levels in Pastel Accounting. This is the process of updating your inventory records to match your physical inventory counts. You can perform inventory adjustments manually or automatically, depending on your preference and business needs. To do this, go to Process > Inventory > Adjustments and choose the adjustment type, such as general, count, write-off, or transfer. You can enter the adjustment details, such as item code, quantity, reason, and reference. You can also use a barcode scanner or a handheld device to capture the adjustment data.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?