Stock Receipts allow you to record products delivered against a Purchase Order, confirm the quantities and supplier pricing, apply discounts and direct costs, and update the receiving Outlet’s inventory.
The process also supports domestic and international supplier invoices and provides options for managing products that were not delivered.
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Chapters
Timestamp | Chapter |
|---|
00:06 | Accessing Stock Receipt |
00:30 | Finding the Purchase Order |
00:50 | Understanding the Stock Receipt Workflow |
01:28 | Selecting a Landed-Cost Method |
01:50 | Receiving an International Purchase Order |
02:53 | Entering the Supplier Invoice and Received Quantities |
03:35 | Scanning or Copying Received Quantities |
04:19 | Applying a Supplier Discount |
05:22 | Adding Freight and Other Direct Costs |
05:56 | Distributing Direct Costs |
06:49 | Calculating International Landed Costs |
07:54 | Handling Products That Were Not Received |
08:23 | Using the POE Manager or Backorder Option |
10:05 | Saving Progress and Printing Labels |
11:00 | Completing the Stock Receipt |
11:18 | Understanding Stock Receipt Basic |
Transcript
The Stock Receipt process records the products delivered against a Purchase Order and calculates their landed costs. You can enter received quantities, supplier discounts, freight and other direct costs before making the stock available at the receiving Outlet.
Accessing Stock Receipt
In Back Office, navigate to:
Inventory > PO Management > Stock Receipt
The menu also contains Stock Receipt Basic.
The standard Stock Receipt function provides the complete receiving workflow. Stock Receipt Basic contains fewer features and is intended for less complicated supplier invoices.
Finding the Purchase Order
Enter the Purchase Order number you want to receive.
When you do not know the number, select PO Search. Retail Express opens Purchase Order Manager, where you can use the available search filters to locate the required order.
After entering or selecting the Purchase Order, continue to open the Stock Receipt screen.
Understanding the Stock Receipt Workflow
The Stock Receipt screen displays a numbered workflow across the page.
The workflow covers:
- Selecting the landed-cost calculation.
- Entering the supplier invoice number.
- Confirming the products and quantities received.
- Applying supplier discounts.
- Entering freight.
- Applying freight and other direct costs.
- Reviewing quantities at the product-line level.
- Reviewing and adjusting product prices.
Complete the applicable parts of the workflow before receiving the stock.
Selecting a Landed-Cost Method
Begin by selecting how the landed costs should be calculated.
The default option uses the supplier buy price. This is suitable for a standard invoice that displays the quantity, unit price and total for each product line.
Another option can be used when the invoice displays the quantity and total line value but does not show the individual unit price.
A separate option is available for products purchased from an international supplier.
Receiving an International Purchase Order
Select the international-import option when the invoice relates to an overseas supplier.
The domestic and international receiving processes are similar. However, an international Stock Receipt requires you to enter the estimated outstanding payment for the goods in the business’s local currency.
Retail Express can account for payments that were recorded before receiving the stock.
For example, when a deposit was previously paid to the supplier, it may already have been recorded through Purchase Order Manager.
You can also use Add Payments during the Stock Receipt process to record a previous supplier payment.
Entering the Supplier Invoice Number
Enter the supplier’s invoice number against the Stock Receipt.
The invoice number helps connect the received stock and associated costs with the supplier documentation.
Confirming the Received Quantities
Retail Express supports three methods for entering the quantities received:
- Scan each product using a barcode scanner.
- Copy all ordered quantities into the receiving column.
- Enter or change the quantities manually.
Choose the method that best reflects how the delivery was counted.
Scanning Received Products
Select the receiving field and scan each product with the barcode scanner.
Each scan increases the receiving quantity for the matching product by one.
This method allows staff to confirm the delivered quantities without manually counting and entering the total for each product line.
Copying the Ordered Quantities
Use Copy Across when the complete Purchase Order has been checked and every ordered product was delivered.
Retail Express copies the ordered quantities into the receiving column.
Review the quantities after copying them to confirm that they match the physical delivery.
Entering Quantities Manually
You can also enter the received quantity directly against each product line.
This method is useful when the delivery has already been counted or when only part of the ordered quantity was supplied.
The receiving column should show the actual quantity physically delivered, rather than the quantity originally ordered.
Applying a Supplier Discount
Enter any discount provided by the supplier.
For example, when the supplier applies a 5% discount to the invoice, enter 5 as the percentage and select Apply Discount.
The purchase summary displays the effect of the discount on the invoice total.
Retail Express also updates the cost against each affected product line.
When entering an absolute dollar value for a discount or direct cost, enter the amount in the business’s local currency and exclude tax.
Reviewing the Purchase Summary
Use the Purchase Order summary section to compare the Retail Express calculations with the supplier invoice.
As discounts and direct costs are applied, the summary totals and product-line costs are recalculated.
Review these values throughout the Stock Receipt process to ensure they correspond with the supplier documentation.
Adding Freight
Enter the freight charged by the supplier.
Freight is entered as an absolute dollar amount rather than a percentage.
Enter the value in the business’s local currency and exclude tax.
Retail Express includes the freight in the direct costs associated with receiving the products.
Adding Other Direct Costs
You can also enter other costs incurred while bringing the products into the business.
These may include:
- Import duty
- Testing fees
- Handling charges
- Other miscellaneous costs associated with obtaining the goods
These costs form part of the products’ landed cost rather than their original supplier price.
Distributing Direct Costs
After entering freight and other direct costs, choose how Retail Express should distribute those costs across the products.
The available methods include:
- Value: Distributes the costs according to each product’s value.
- Weight: Gives heavier products a larger proportion of the costs.
- Quantity: Distributes the costs according to the number of units received.
Select the method that most accurately reflects the nature of the cost.
For example, distributing freight by weight may be appropriate when heavier products are responsible for a larger proportion of the freight charge.
Apply the costs after selecting the required method.
Retail Express recalculates the landed cost of each product line and updates the Stock Receipt totals.
Calculating International Landed Costs
When receiving an international Purchase Order, enter the estimated amount remaining to be paid in the business’s local currency.
The amount may be based on:
- A currency rate previously secured by the business.
- The exchange rate available on the day.
- The estimated value that will be paid to the supplier.
Apply the local-currency value to the Stock Receipt.
Retail Express recalculates the product-line costs using the entered amount, together with the supplier discounts, freight and other direct costs.
The resulting product costs represent the estimated landed cost in the business’s local currency.
Handling Products That Were Not Received
The receiving quantity may be lower than the quantity originally ordered.
For example, when 50 units were ordered but only 40 were delivered, the remaining 10 units must be handled as a discrepancy.
By default, the outstanding quantity can be sent to the Purchase Order Error Manager, also referred to as the POE Manager.
Using the POE Manager
The POE Manager can be used when the supplier may deliver the remaining products later under another supplier invoice.
From the POE Manager, you can process the outstanding quantity by:
- Returning it to the original Purchase Order.
- Creating a new Purchase Order for the remaining products.
Creating a new Purchase Order provides a separate order against which the later delivery can be received.
Placing Outstanding Products on Backorder
Alternatively, the undelivered quantity can be placed back on the original Purchase Order as a backorder.
This leaves the original Purchase Order open so the outstanding quantity can be reviewed and followed up.
However, the video notes that leaving products on backorder can prevent the Purchase Order from flowing to an integrated accounting system until the order is completed.
Sending the discrepancy to the POE Manager allows the current receipt to proceed while retaining a record of the undelivered products.
Selecting a POE Reason
When sending an outstanding quantity to the POE Manager, select the reason for the discrepancy.
Examples may include:
- Supplier out of stock
- Product not received
- Product received damaged
The available POE reasons can be configured by the business in Retail Express.
Saving a Stock Receipt in Progress
You do not need to complete a large Stock Receipt in one session.
Select Save in Progress to retain the information already entered and return to the receipt later.
This can support a workflow where one staff member enters the received quantities and another staff member later reviews the supplier invoice, pricing and direct costs.
Printing Product Labels
Product labels can be printed during the receiving process.
You can print labels using:
- The quantities in the receiving column.
- The quantities originally ordered.
- A manually entered label quantity for individual product lines.
Select the option that reflects the number of labels required for the delivered products.
Abandoning the Stock Receipt
When you do not want to continue with the current Stock Receipt, use the available option to abandon the process and return to Purchase Order Manager.
The Purchase Order remains available to be received later.
Completing the Stock Receipt
After confirming the quantities, prices, discounts and direct costs, select Receive Stock as Available.
Retail Express makes the received products available in the receiving Outlet’s inventory.
Any outstanding quantities configured for POE handling are sent to the POE Manager.
After the receipt is completed, the received Purchase Order can no longer be edited through the Stock Receipt screen.
Understanding Stock Receipt Basic
Stock Receipt Basic follows a similar receiving process but provides fewer options.
The limitations demonstrated in the video include:
- It supports domestic invoices only and does not provide the international-import calculation.
- It does not provide the supplier-discount option.
- It does not allow a POE reason to be selected for quantities that were not received.
Freight can still be entered.
Stock Receipt Basic is intended for straightforward supplier invoices using standard list pricing.