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Encoded Type Item

Encoded Type Item

NoSummary
1.
  • The definition of encoded type is no need to stock in but allow to sell NEGATIVE QUANTITY in the stock balance.
2.
  • Example: 

Most of the FRESH FOOD like FISH and CHICKEN is subject to extremely big SEASONAL pricing, and the food has to be fresh, it doesn't make sense to keep the food over a week, and try to average out the cost of the goods, base on historical pricing from last week etc. (sometimes it is difficult to force the staff to remember to charge out or adjust out the left over stock that need to be thrown away).

Therefore, wastage and pilferage is very normal

3.
  • Encoded item is scan the barcode and back calculator the price.
4.
  • Encoded item only appear at accounting site but not inventory site.
5.
  • No stock, but add to journal entry.
6.
  • We are not using MA COST.
7.
  • GP will show as 100%, because we are making or MA-COST to be ZERO.
8.
  • System will BACK-CALCULATE THE QUANTITY, and then do the ROUNDING accordingly on the QTY.
9.
  • If want to see GP by item, customer will just need to take the Sales amount - Purchase amount per item.
10.
  • Closing Stock Balance: We can safely assume this as ZERO, because for fresh food, they are usually not carried over to the next day or next week or next month.

  • Opening Stock Quantity:This is also usually ZERO, since closing stock is ZERO.

  • GRN , Purchase Return, Sales, Sales return quantity can be calculated

  • Wastage quantity:This can be charged out by doing stock adjustment

11.




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