An Item refers to a product or service provided by your company.

This term also encompasses raw materials or components used in manufacturing processes before they are transformed into sellable products for customers. BizCentric offers comprehensive management capabilities for various types of items, including raw materials, sub-assemblies, finished goods, item variants, and service items.

BizCentric is tailored for efficient management of your sales and purchases on an itemized level. For service-oriented businesses, it allows you to create an Item entry for each service you offer. Ensuring completeness in the Item Master is crucial for the effective deployment of BizCentric.

To access the Item list, go to: > Home > Stock > Items and Pricing > Item

1. Prerequisites

Before creating and using an Item, it is advised that you create the following first:

• Item Group
• Warehouse

2. How to create an Item

1. Go to the Item list, click on new.
2. Enter an Item Code, the name will be auto-filled the same as Item Code on clicking inside the Item Name field.
3. Select an Item Group.
4. Enter the opening stock units and standard selling rate.
5. Save.

2.1 Item Properties

• Item Name: The Item name represents the actual name of your product or service.
• Item Code: An Item Code serves as an abbreviation to identify your Item. If you have a limited number of Items, it’s recommended to maintain consistency between the Item Name and the Item Code. This facilitates recognition and updating of Item details in transactions for new users. However, if you have an extensive list of Items with lengthy names, numbering is advisable. For guidance on naming Item codes, refer to the Item Codification. You can also automate the generation of Item Codes based on a Naming Series by activating this feature in Stock Settings.
• Item Group: The Item Group assists in categorizing an Item based on various criteria such as products, raw materials, services, sub-assemblies, or consumables. You can establish your default Item Group list under Setup > Item Group and pre-select the appropriate option when entering New Item details. Item groups may include sub-assemblies, raw materials, or other classifications relevant to your business operations.
• Default Unit of Measure: This denotes the standard measuring unit for your product, such as Nos, Kgs, or Meters. You can manage all required units of measure for your products under Setup > Master Data > UOM. These units can be conveniently preselected during New Item entry by using the % sign to access a pop-up list of available UOMs. For further information, refer to the UoM page.

2.2 Options when creating an item

1. Disabled: When you disable an Item, it becomes ineligible for selection in any transaction.
2. Allow Alternative Item: In scenarios where specific materials are unavailable during manufacturing of a finished good, enabling this option permits the creation and selection of an alternative item from the Item Alternative list.
3. Maintain Stock: If you are managing inventory stock for this Item, BizCentric will generate a stock ledger entry for each transaction involving this item. Ensure to leave this option unchecked when creating a non-stock Item (such as make-to-order/engineer) or a service.
4. Include Item in Manufacturing: This setting is intended for raw material Items utilized in the production of finished goods. Leave this unchecked for additional services like ‘washing’ used in the Bill of Materials (BOM).
5. Valuation Rate: Two options are available for stock valuation: FIFO (First In, First Out) and Moving Average. For comprehensive understanding, please refer to the Item Valuation, FIFO, and Moving Average resources.
6. Standard Selling Rate: Upon Item creation, entering a value in this field automatically generates an Item Price in the background. It’s important to note that entering a value after saving the Item will not work; instead, the Item Price is derived from transactions involving the Item.
7. Is Fixed Asset: Select this checkbox if the item is a company asset.
8. Auto Create Assets on Purchase: If the Item is a company asset, enable this option to automatically create assets during the Purchase Cycle. Refer to the Asset Page for more information.
9. Allowance Percentage: This option, available upon Item creation and saving, defines the percentage by which over-billing or over-delivery of this Item is permissible. If not specified, the allowance percentage will be determined from Stock Settings.
10. Uploading an Image: To upload an image for the icon representing the Item in transactions, save the partially filled form. Once saved, the ‘Change’ button will appear on the Image icon. Click ‘Change,’ followed by ‘Upload,’ to upload the image.

For India:

• HSN/SAC: Harmonized System of Nomenclature (HSN) and Service Accounting Code (SAC) for GST purposes. These government-defined codes categorize different Items. New HSN codes can be added if not present in the list.
• Is nil rated or exempted: Applicable for Items under GST with no tax applied, such as cereals.
• Is Non GST: Applies to items not covered under GST, such as petrol.

3. Features

3.1 Brand and Description

• Brand: If you have more than one brand save them under Selling > Brand and pre-select them while filling a New Item.
• Description: Description of the item. The text from the Item Code will be fetched by default.

3.2 Barcodes

3.3 Inventory

• Shelf Life In Days: This pertains to the shelf life of a product batch, indicating the number of days until the batch becomes unusable. This feature is particularly relevant for items like medicines.
• End of Life: This signifies the date after which a single item or product will be deemed completely unusable. Subsequently, the item will no longer be available for transactions or manufacturing activities. For example, if you’re currently utilizing plastic crystals for manufacturing items for the next five years, but plan to switch to plastic beads afterward.
• Warranty: To monitor a warranty period, serialization of the item is necessary. Upon delivery, the delivery date and expiry period are recorded in the Serial Number master. This enables tracking of warranty status, defining the duration during which a purchased product may be eligible for return or exchange.
• Weight UOM: This denotes the Unit of Measure for the item, such as Nos (number), Kilograms, etc. The internal Weight UoM may differ from the purchase UoM.
• Weight Per Unit: This specifies the actual weight per unit of the item. For instance, 1 kilogram of biscuits or 10 biscuits per pack.
• Default Material Request Type: When generating a new Material Request for this item, the field set here will be automatically selected by default in the new Material Request. This is also referred to as an ‘indent.’
• Valuation Method: Choose the appropriate Valuation Method, either FIFO (First In, First Out) or Moving Average. Further insights into these methods can be found in the Item Valuation methods documentation.
• Allow negative stock: When enabled, this permits the item to go into negative stock even if negative stock functionality is disabled in Stock Settings. This feature is useful when you prefer not to enable negative stock for high-value items but wish to allow select low-value items to temporarily dip into negative stock for a brief period.

3.4 Automatic Reordering

3.5 Multiple Units of Measure

You have the option to incorporate alternative Units of Measure (UoMs) for an Item. For instance, if you typically sell items in units (NoS) but receive them in kilograms, you can establish an additional UoM with a suitable conversion factor. For example, if 500 units of screws equal 1 kilogram, you would select Kilogram/Litre as the UOM and set the conversion factor to 500. For further information on selling in different UoMs, please refer to this page.

3.6 Serial Numbers

Serial Numbers enable you to monitor warranties and handle returns efficiently. In instances where individual items are recalled by the supplier, the serial number system aids in tracking each item individually, also managing expiry dates.

It’s important to note that for items sold in large quantities, such as pens or erasers, serialization may not be necessary.

In BizCentric, serial numbers need to be specified in certain accounting entries. However, if your product is not a significant consumer durable item, lacks warranty coverage, and is unlikely to be recalled, it’s advisable to refrain from assigning serial numbers.

3.7 Batches

A group of items can be manufactured in batches, which proves beneficial for organizing the movement of batches and associating expiry dates with specific batches.

• Has Batch No: Checking this option reveals choices for batch numbers, expiry dates, and retaining sample stock. However, activation is not possible if there are existing transactions for this item. If disabled, serial numbers must be manually entered for each transaction.
• Batch Number Series: Specifies the prefix applied to batch numbers. For instance, if set to “5x1SCR,” the initial batch will be named as “5x1SCR00001” during the first transaction or manufacture.
• Automatically Create New Batch: When batch numbers are not specified in transactions, they will be automatically generated according to a designated format, such as “AAAA.00001.” Leaving this field blank ensures manual batch number creation. This setting overrides the ‘Naming Series Prefix’ in Stock Settings.
• Has Expiry Date: Activating this option aligns batch number creation with expiry dates, which can be configured in the ‘Batch’ master.
• Retain Sample: Facilitates retaining a minimum quantity of sample stock for the item. A Sample Retention Warehouse must be configured in Stock Settings for this feature.
• Has Serial No: Similar to Batch Number Series, serial numbers are generated during transactions or manufacturing. For example, if the Serial Number Series is set as “AA,” the first transaction will generate a serial number like “AA00001.”

Tip: When inputting an Item Code in an Items table requiring inventory details, you can promptly enter serial or batch numbers via a pop-up dialog, depending on whether the item is batched or serialized.

Note: Once an item is designated as serialized, batched, or neither, this classification cannot be altered after a Stock Entry has been made.

To know more, visit the Stock Reconciliation page.

3.8 Variants

An Item Variant is a different version of an Item. To learn more about managing variants see Item Variants.

3.9 Item Defaults

Within this section, you can establish company-wide defaults related to transactions involving this item.

• Default Warehouse: This specifies the warehouse automatically chosen for transactions involving this item.
• Default Price List: You can designate whether this item follows the Standard Selling or Standard Buying price list. Additionally, you have the option to set default accounts for purchasing and selling.
• Supplier: If a default supplier is assigned, this supplier will be pre-selected for new purchase transactions.
• Default Expense Account: This account is debited for the cost of the item.
• Default Income Account: This account is credited for income generated from selling the item.
• Default Cost Center: Utilized for tracking expenses associated with this item.

Tip: Additional rows can be added for multiple companies.

3.10 Purchase, Replenishment Details

• Default Purchase Unit of Measure: Specifies the default unit of measure utilized in purchase transactions.
• Minimum Order Qty: Establishes the minimum quantity required for purchase transactions such as Purchase Orders. If set, the system prevents proceeding with the purchase transaction if the item quantity falls below the specified quantity.
• Safety Stock: Utilized in the “Itemwise Recommended Reorder Level” report, Safety Stock influences the system’s suggestion for the Reorder Level of an item based on factors including average daily consumption and lead time.
• Reorder Level = Safety Stock + (Average Daily Consumption * Lead Time)
• Last Purchase Rate: Displays the rate at which you last purchased this item via a Purchase Invoice.
• Is Purchase Item: If unchecked, this item cannot be utilized in purchase transactions.
• Is Customer Provided Item: Checked if the item is supplied by a customer and received through Stock Entry > Material Receipt. If checked, the Customer field becomes mandatory, specifying the default customer for Material Request.
• Lead time days: Represents the number of days between ordering the item and its arrival at the warehouse.

3.11 Supplier Details

• Delivered by Supplier (Drop Ship): If the item is delivered directly by the supplier to the customer, tick this checkbox.
• Supplier Codes: Track Item Code defined by the Suppliers for this Item. In the Purchase transactions, on selecting an Item, a Supplier Part No. will be fetched as well for the Supplier’s reference.

3.12 Foreign Trade Details

If you are importing the item from another country, you can specify the details in this section.

• Country of Origin: Indicates the country from which the item is sourced.
• Customs Tariff Number: Allows you to create a customs tariff number along with a description, which can be utilized as a reference for custom agencies. Subsequently, it can also be included in Delivery Notes.

3.13 Sales Details

• Grant Commission: Allocate a commission to Sales Persons and Sales Partners upon the sale of this item. If disabled, sales generated by this item will not be factored into the commission calculation.
• Default Sales Unit of Measure: Specifies the default unit of measure used in sales transactions.
• Max Discount (%): Sets the maximum allowable discount percentage for an item. For instance, if you set it at 20%, the item cannot be sold at a discount exceeding 20%.
• Is Sales Item: If unchecked, this item cannot be utilized in sales transactions.

3.14 Deferred Revenue and Deferred Expense

You have the option to activate deferred revenue or expense for the item. Upon selecting the checkbox, you will be prompted to set the Deferred Expense Account and specify the duration, in months, over which the revenue/expense is deferred.

For instance, let’s consider a yearly gym membership where the fee is paid upfront in full, but the service is rendered over the course of the year. From the perspective of the gym owner, this constitutes deferred revenue, while for the customer, it represents a deferred expense.

Check out the pages on Deferred Revenue for more details.

3.15 Customer Details

The Customer may identify an Item with a different Item Code. this is Similar to Supplier Code.

• Customer Name: Choose a customer from the list.
• Customer Group: This field will automatically populate based on the customer selected in the previous field.
• Ref Code: This allows customers to assign a unique identification number to this item. You can track the item code designated by the customer. When creating a Sales Order, the customer’s reference code for this item will be displayed.

3.16 Item Tax

These configurations are necessary only when a specific item is subject to a different tax rate compared to the rate established in the standard tax account.

You’ll need to either create a new ‘Item Tax Template’ or opt for an existing one. For instance, if you have a tax account named “VAT 14%” and the particular item is tax-exempt, you would select “VAT 14%” in the first column and set the tax rate as “0” in the second column. For further information, refer to the Item Tax Template page.

Additionally, you can assign a Tax Category to this item.

3.17 Inspection Criteria

• Inspection Required before Purchase: Enable this option by ticking the checkbox if an inspection is obligatory before purchasing the item, i.e., before generating a Purchase Receipt.
• Inspection Required before Delivery: Tick this checkbox if an inspection is mandatory at the time of delivery from your supplier for this item, i.e., before generating a Delivery Note.
• Quality Inspection Template: If a Quality Inspection is conducted for this item, the specified template of criteria will be automatically updated in the Quality Inspection table. Examples of criteria include Weight, Length, Finish, etc.

Quality Inspections can be conveniently conducted using Quick View, eliminating the need to navigate to a separate page to update inspection details in BizCentric. For further insights, refer to the Quality Inspection documentation.

3.18 Manufacturing

• Default BOM: Specifies the default Bill of Materials utilized for manufacturing this item.
• Supply Raw Materials for Purchase: If subcontracting to a vendor, you have the option to provide them with the raw materials required to manufacture the item using the default BOM.
• Manufacturer: Designate the manufacturer responsible for producing this item.
• Manufacturer Part Number: Input the part number assigned by the manufacturer to identify this item.
• Manufacturer details become visible after creating an ‘Item Manufacturer’ from the dashboard and selecting that record as default. In this section, provide the following details:
  1. Item Code
  2. Manufacturer Name
  3. Part Number used by the manufacturer to identify this item
  4. Select ‘Is Default’ to display the manufacturer and part number in the Item record.

3.19 Website

• Display on Website: Determine whether you wish to showcase this item on your website. Upon selecting this option, additional settings will become visible to configure the item on your website. To preview the item on the website, click the ‘See on Website’ link located at the top left, just above the item image. Refer to the Website module for further information.
• Weightage: Items with a higher weight will receive priority placement on the website. The range for the numerical input here is extensive.
• Slideshow: An option to present a slideshow at the top of the webpage.
• Image: You have the capability to attach an image instead of utilizing a slideshow.
• Website Warehouse: Choose an existing warehouse or create a new one specifically for transactions via your website. This warehouse will be distinct from your offline warehouses, and stock for any online transactions will be deducted from the warehouses set under Website Warehouse.
• Website Item Groups: Within this table, you can select existing item groups or create new ones to categorize items on your website.
• Set Meta Tags: Meta tags play a crucial role in SEO (Search Engine Optimization). Refer to the Web Page section for guidance on adding them.

For comprehensive understanding, explore the Manufacturing and Website sections to delve into these topics further.

3.20 Website Specifications

This segment is designated for configuring additional details pertaining to the item.

• Copy from Item Group: The ‘Website Specifications’ particulars will be retrieved based on the settings established in a specific Item Group selected in the previous section (2.17).
• Website Specifications: Includes labels and descriptions for the item, such as ‘Warranty: 1 year’.
• Website Description: This description will be visible on the item page.
• Website Content: (Introduced in v12) Allows for the creation of additional styling and utilization of Bootstrap 4 markup to be displayed on the item page.

3.21 Hub Publishing Details

The hub serves as a complimentary online marketplace facilitating transactions between Suppliers and Customers. When both parties utilize BizCentric, transactions seamlessly integrate. You can access the hub at: https://hubmarket.org.

• Publish in Hub: Opt to showcase your item on https://hubmarket.org/. This platform serves as a free marketplace. If your supplier or customer also utilizes BizCentric, transactions will proceed seamlessly. For instance, creating a Purchase Order from your end will automatically generate a Sales Order on the supplier’s end.
• Hub Warehouse: Designate a distinct warehouse to manage stock for transactions conducted through the hub.
• Synced With Hub: Facilitates the synchronization of item and other pertinent details with the hub upon transaction execution.

4. Related Topics

1. Item Price
2. Item Codification
3. Item Variants
4. Item Group
5. Item Attribute
6. Item Valuation FIFO And Moving Average