Inventory Management Guide

Modified on Wed, 8 Oct at 4:10 PM

Overview

Cornerstone's Account Management System includes an extensive Inventory Management system that helps you track parts, manage stock levels, and streamline ordering processes.

At the basic level, inventory maintains a list of parts you sell along with descriptions and selling prices. Advanced features include stock tracking, multiple warehousing, truck inventory, multiple price levels, purchase orders, kit assemblies, and physical stock counts.

Inventory Dashboard

The Inventory Dashboard provides an easy way to enter information and track parts and ordering status.

Key Features

Use the Dashboard to:

Identify parts set up as assembled kits or parts with images
Review inventory levels and quantities needed to fulfill service tickets
Check quantities on hand and reorder levels
Select parts that need to be ordered and determine quantities
Generate parts purchase lists by vendor (POs) and track ordered/received parts
Edit the inventory list (fill in missing GL codes, update prices, etc.)

Accessing the Dashboard

Click on the INVENTORY icon on the top toolbar to access the main inventory list.

Inventory List Features

Accessing the Inventory List

Click on the Inventory icon on the top toolbar, or select Inventory List from the top menu.

Filtering Options

Popular Items - Display only parts marked as popular
Discontinued Items - Hide or show discontinued parts

Sorting and Searching

Search inventory in multiple ways by clicking the appropriate sort tab:

Sort By Part ID - Search by part number
Sort by Description - Search by part description
Sort By Category - Search by category (Panel, Contact, Phone, Video, Audio, Cables, etc.)
Sort By Sub Category - Search by subcategory (Theater, Security, Fire, Automation, etc.)
Sort by Vendor Name - Search by vendor
Sort By Manufacturer Code - Search by manufacturer part number
Sort By UPC Code - Search by UPC (bar code) number
Sort By GL Code - Search by General Ledger code
Sort By Bin Number - Search by warehouse bin location

Adding a Part to Inventory

Step 1: Start Adding a Part

Press Insert from the Inventory maintenance list.

Step 2: Enter Basic Information

Required Fields:

Part ID - Unique part number (manufacturer's or your own)
Part Description - Name/description (up to 30 characters)

Optional Fields:

Detailed Description - Prints on quote proposals
Is "Labor" part? - Check to record labor in decimal quantities (e.g., 1.5 hours)

Step 3: Categorization

Part Category - Categorize for sorting and searching
Part Subcategory - Additional categorization option

Step 4: Vendor and Manufacturer Information

Vendor Name - Where the item is usually purchased
Manufacturer Name - Item manufacturer
Manufacturer Part ID - If different from your Part ID
UPC Code - Bar code number
Warranty Period - Manufacturer's warranty (e.g., "1 year", "90 days")

Step 5: Cost and Pricing

Unit Cost Vendor - Populated from POs when items are received
Unit Cost - Your cost to purchase (average if multiple distributors)
Price Each - Amount charged to customers
Multiple Price Levels - Available if enabled in System Defaults

Step 6: Time and Labor

Time in Min - Expected installation/service time
Techs - Number of technicians expected
Tech Payout - Tech payment for this part (if applicable)

Step 7: Contract and Equipment Settings

Contract Price - Service contract price if this part is installed
Add To Equipment List - Auto-add to customer equipment list when sold
Print On Service Tickets - Include on service ticket equipment list
Print On Invoice - Display on printed invoices

Step 8: Part Status

Popular - Mark for "short list" display
Taxable - Check if subject to sales tax
Discontinued - Mark as no longer used (won't display on list)
Tracking Exempt - Don't count this item in inventory (e.g., labor charges)

Attaching Images to Parts

Images can be linked to parts in two ways:

Automatic - Some manufacturer images are available automatically if using the Manufacturer's Part ID
Manual Upload - Upload your own images via FTP (contact Cornerstone for details)

Use the Portrait icon for a larger view of images.

Tracking Inventory in Multiple Locations

Enabling Multiple Locations

Must be enabled in System Defaults. Allows tracking inventory in:

Main location
Trucks
Other office locations
Warehouses

Adding Additional Stock Locations

Open the customer account
Select the Additional Stock Tab
Click Insert to add a location

Information to Enter:

Location Name - Name of the location (e.g., TRUCK1, TRUCK2)
Stock On-Hand - Current quantity at this location
Reorder Level - Minimum stock level for this location
Bin Number - Physical storage location within the warehouse

Selling from Multiple Locations

When creating a product invoice, you can choose which location to deduct inventory from if the item exists in multiple locations.

Kit Assemblies

Kit assemblies allow you to sell packages of parts with one click.

Types of Kits

1. Bought as Shrink-Wrapped Kit

Order, track, and sell as a single unit
Vendor recognizes the Part ID as a kit

2. Bought as Kit, Track Components Separately

Purchase as a kit (discount pricing)
Store and track individual components
Components received individually into inventory

3. In-House Kit Assembly

List of parts you order, track, and sell individually
One click adds all parts to ticket
All parts tracked separately in inventory

Creating a Kit

Select INVENTORY icon
Select Inventory List
Highlight the part and press ENTER
Click Components then Insert
Select the Type of Kit
Add component parts with quantities

For Each Component:

Component Quantity - How many of this part
Component Part ID - The part number
Seq No - Order in which components are listed
Track Components - Deduct individual parts from inventory
Price Components On Invoice - Show individual prices or kit price only

Managing Inventory

Inventory Control Features

Transfer Inventory

Move stock between locations
Updates recorded in Transfer Inventory Report
Use Dashboard to manage transfers

Recalculate Counts

Recalculates all totals from Invoices, Service Items, and Purchase Orders

Physical Inventory Audit

Periodic physical count of inventory
Export to CSV for counting
Post updates back to system
Changes recorded in Inventory Log - Physical Report

Receiving Inventory

Best method: Use Purchase Orders
Alternative: Receive (Non PO) button for manual entries

Override Counts

Interactive worksheet for editing Reorder Level, Max, and To Order Manual values
Use caution - other users should not be in inventory during updates

Purchase Orders

Generating Purchase Orders

Purchase Orders can be generated from:

Inventory Dashboard (recommended for tracking)
Directly from a Quote
Manually in the Purchase Order window

Creating a Purchase Order

Click INSERT from the Purchase Order list
Enter PO details:
- Title - Type of form (Purchase Order, Request For Bid, etc.)
- Vendor - Select from vendor list
- Ship To - Auto-filled with company address (can be changed)
- PO Date - Date created
- Delivery - Desired delivery date
- Ordered By - Person placing the order

Adding Items to Purchase Order

Click Insert Item and enter:

Part ID - Item being ordered
Quantity Ordered - Number of items
Unit Cost (Each) - Your cost per item
Notes - Any relevant notes

Receiving Items

Receive All Items:

Click Received All button to mark entire order as received
Inventory automatically updated

Partial Receipt:

Edit individual items
Enter Quantity Received
Remaining quantity moves to Back Ordered

Purchase Order Status

Items can have status of:

Ordered - Not yet received
Received - In stock
Back Ordered - Partially received with remainder on back order

Reports

Available Inventory Reports

Equipment Installed List

All equipment installed across customers
Equipment at specific customer site
Customers with specific part installed (useful for recalls/upgrades)

Serviced Items List

Complete repair history by part or customer
Filter by repaired, replaced, or inspected
Identify parts with high failure rates

Purchase Order List

Print PO list by date range, vendor, or status
Include item details
Filter by open, closed, or all POs

Inventory List

Complete listing of all parts
Includes description, cost, price, warranty
Can be exported as CSV from Dashboard

Inventory Log - Received

History of items received into inventory
Filter by date range, part, vendor, or PO number

Inventory Log - Physical

History of physical count adjustments
Filter by date range, part, vendor, or PO number

Inventory Log - Transfer

History of inventory transfers between locations
Filter by date range, part, vendor, or PO number

Job Costing

Profit margin analysis for invoices and quotes
Tracks unit cost and price at time of transaction
Compare current vs. historical costs

Customer Equipment List

When inventory tracking is enabled, parts installed at customer locations are recorded in the Customer Equipment List.

Benefits

Track serial numbers
Record warranty information
Reference for future service
Service tickets can reference installed parts for repair/replace/inspect

Default Settings

Numerous default settings are available to streamline Service Tickets, Inventory, and Purchase Orders.

Contact Cornerstone for assistance with configuration.

Need Help?

Still have questions? Contact Cornerstone Holding Co. 847-405-9517 or email us customer.success@alarmbills.com