Add Product
Add product to your inventory and keep your stocks updated.
Steps to add a product
Go to Left Menu -> Inventory
At top App Bar, click on Add icon, and select Item.
New Item page is created, add item details, such as,
Product Name - Enter the name of the product.
Brand - Enter the brand, if any.
Buy or Make - Select
Buy - if the product is purchased from vendor.
Make - if the product is made by the business.
Description - Describe more about the product.
HSN Code - Enter the HSN code.
Reorder Quantity - It tells the inventory when the product is getting low in quantity and based on this number, it notifies to the business.
For example, if it is set to "10", as soon as the quantity of the product reaches below 10, the system will notify to the business that the product is low in quantity and has to be reordered.
Unit - Enter the unit of the product, e.g. Kg, Litre, etc.
Price Inclusive of Tax
Selected - If it is selected, the price will include taxes. E.g. if Selling Price is set to 100 @ 10% tax, the MRP will be 100 itself.
Not Selected - If it is not selected, the price will not include taxes. E.g. if Selling Price is set to 100 @ 10% tax, the MRP will be 110.
Selling Price - Enter the selling price that will be used to prepare sales or invoices.
Purchase Cost - Enter the purchase price that will be used to prepare purchases.
Tax - Enter the GST, CESS or VAT, if applicable.
Click on Create Item button.
The item is successfully created and it will be reflected in the Inventory.
Setting the Price - There are 2 ways to define a product price
Inclusive of Tax: True - Suppose, the price is set to 100 @ 10 % Tax, the MRP will remain 100 itself.
Inclusive of Tax: False - Suppose, the price is set to 100 @ 10% Tax, the MRP will be 100 + 10 = 110.
Veepan gives both ways to define the price.
Reorder Quantity of a product tells if inventory is low. And we can purchase the product before it is out of stock.
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