Terms, Definitions
& Glossary
With the inventory products module come various terms and definitions
that all users should have a general understanding. These come in the
form of Fixed and Flexible terms. Fixed terms cannot be added to or
changed. Flexible terms can be added to, and sometimes updated.
Fixed Terms & Definitions
Cost Method: the
indication of how the cost of inventory is done. This is either a Manual
Average Cost or a Calculated Average Cost.
Customer Relation:
the classification of a product relationship between an inventoried product and
a customer such as an author, sponsor, co-sponsor, product manager, speaker,
staff, or vendor.
Fulfill Status:
the status of the product within an order. This includes:
-
L – Packing Slip Printed
-
N – Not Fulfilled
-
P – Pre-Shipped
-
R – Returned
-
S – Shipped
-
TSO – Terminate Standing Order
Product Type:
The type of product type determines various options of the inventoried product
after selected. Users select between Individual Product and Standing
Order Product.
Flexible Terms & Definitions
Inventory Adjustment:
the type of adjustment when adjusting inventory of a product. For
example if the item was damaged or misplaced. Adjustment reasons can be
added to this list.
Product Class:
used to identify the class of a product. For example, this could be a
book, CDs, clothing, consulting, file, print-on-demand, etc. These
product classes can be added to and existing inactivated under certain
circumstances. Product Class also extends to packaged
products as well and must be defined.
Rate Structure:
the established rate categorizes a constituent. For example List vs. Member
pricing. Additional rates can be created with individual rate structures.
Rate Code: based
upon the rate structure various codes exist such under List Pricing is
available military rate, senior citizen rate, standard rate, etc.
Customer Relationship:
code that defines how a constituent may be related to a product such as a
vendor, author, publisher, or product manager.
Customer Relationship Status: code that defines the status of the relationship between a
constituent and a product such as assigned, confirmed, or invited.
File Types: code
that defines the type of file when being attached to a product.
Category: code
that defines a group of like inventoried products. This feature is used
for online store categorization.
Sub-Categories:
code that further defines a group of categorized inventory products.
Unit of Measure:
used to measure units such as pounds, ounces etc. This value is for
informational purposes only and can be updated in Personify.
Glossary
AR
(Accounts Receivable): Money owed by constituents
(individuals or companies) to an organization in exchange of goods or services
that have been delivered or used, but not yet paid
for.
Bin: A storage location or “shelf” in a warehouse.
GL
(General Ledge) Account: Specific
account number. The number must exist in
the organization’s master GL chart of accounts.
GST
(Goods & Services Tax): A type of
sales tax used on goods and services used in Canada.
HST
(Harmonized Sales Tax): A type of
single value added sales tax combined with GST used
in Canada.
Individual
Product: A product that holds it’s own inventory and the revenue
will be distributed to this product’s own revenue accounts. Optionally, this product can point to any
combination of products or components.
Inventoried
Product: A product that Personify tracks
the supply level and restocking history in inventory. It can be out of stock causing an order line
to go into back order status. An
inventoried product must have a warehouse associated with it. Only products with warehouses associated with
them have printed packing slips.
Non-Inventoried
Product: A product that is always
considered in stock because supply levels are not tracked in inventory. A non-inventory product can have a warehouse
associated with it (but not required); packing slips only print for products
associated with a warehouse. A
non-inventoried product does not have a cost-of-goods sold account associated
with it.
Packing
Slip: A document detailing each
inventoried item that a customer has placed on a single order. This packing slip is typically included in
the shipped box.
Pick
List:
The list of all stock items for a single run of the INV620 batch
process, which will match the items listed on all the packing slips. A shipping person will reference the pick
list while gathering all the inventoried products form the warehouse bins and
bring them to the packing work area to be matched with the appropriate packing
slip.
PO (Purchasing Order) Number: An alphanumeric code assigned to an order
placed by a vendor.
Point of Sale (POS): The purpose of a
point of sale warehouse is to allow an organization to move inventory to a
bookstore at a trade show in a different state than their headquarters and a
different state than they are formally registered in. This all plays into calculation of sales tax.
Associations may be
responsible for charging sales tax for something sold in their state and
perhaps in a state of the ship-to customer.
Normally organizations may not have to charge sales tax for another
state unless you are specifically doing business in that state.
Thus, Personify can
define inventory in their point of sale warehouse and open a point of sale
batch. These two pieces work together to
charge the correct sales tax for sales at a meeting and to default the
warehouse for their inventory to what they have on-site, rather than the
standard processing of choosing a warehouse by priority.
When a POS batch is
open, the system automatically sets the order line status to “P” (pre-shipped)
and the POS warehouse inventory is updated.
If a customer wishes to have the product shipped, the user can select a
different warehouse.
If inventory is
depleted at the point-of-sale location, the system will first attempt to find a
different warehouse from which the order can be fulfilled. If the POS warehouse is not used in the order
line, the system reverts to regular rules for calculating tax, usually based
upon the ship-to address of the customer.
A POS warehouse is
typically defined with a priority of 0, and is typically only used with a POS
Batch. If a POS warehouse is defined with
a priority greater than 0 and a POS batch is not open,
the system will not consider the warehouse when calculating the best warehouse
to use to fulfill and order, but a back-office user can manually select the POS
warehouse. Using a POS warehouse in this
way can be used to enter orders fulfilled form a consignment warehouse.
Revenue: income received from constituents by an
organization from the sales of goods and services.
Standing Order Product: A product that flags the Order Entry screen
and the standing order fulfillment process to follow special rules. It is a special case in that it represents a
series of products which may be purchased as a unit or
by component.
Value Added Tax (VAT): From the perspective
of the customer, VAT is a tax on the purchase price of a product. From the perspective of the organization, VAT
is a tax only on the “value added” to a product. Primarily used in European Union (EU) and
Canada.
Warehouse: Storage of goods.