The Inventory feature lets you track and manage the items and services your company buys and sells. Item records track a wide range of information in your account, including physical inventory, and more. Our application always track the available quantity from NetSuite back to Shopify .
Item records include the following:
Records to track physical items that you manage, including:
Inventory Items
NetSuite inventory item records let you track the quantity and value of your inventory. Your balance sheet automatically reflects the value of your inventory on hand, and your income statement automatically reflects the markup you charge for these items. To track inventory, first set up your inventory items. Fields that appear depend on the features you have enabled.
Serial Numbered Items
Serialized inventory is a way to track the purchase and sale of physical inventory items by assigning a serial number to each item. Serializing inventory lets you choose a specific serial numbered item to fulfil or receive an order. You can access the history of any serialized item to track the cost of the item, or check its status.
Lot Numbered Items
Lot items track the purchase, stock, and sale of a group or quantity of items by assigning a specific number to the group or quantity. For example, a food distributor can track goods by assigning a lot number and expiration date to a group of perishable products.
Lot numbered item records track the quantity of items and the specific cost for each lot as products are purchased and sold. On the lot number record, you can identify an expiration date and enter notes about the lot.
Drop Ship Items
When you drop ship an item, the item is sent directly from your vendor to your customer. The item is not processed in your inventory. Drop shipments streamline your inventory by keeping a low inventory asset total and reducing the order-to-delivery cycle time.
Because drop ship items are not received into your inventory, they do not impact your inventory asset accounts or affect your stock count. You can drop ship inventory items and non-inventory for resale items.
You can set items to drop ship by default, or manually on sales orders. To set an item to drop ship by default, mark the item record as a drop ship item. Then, each time the item is entered on a sales order, it is always set to drop ship. When the order is approved, a purchase order is automatically generated. For more information, see Marking an Item for Drop Shipment.
After the drop ship purchase order is generated and approved, you can choose your preference for how to send it to the vendor. You can choose to queue the purchase order for printing, or to automatically email or fax it to the vendor.
If an item is set to drop ship and a preferred vendor is selected, note the following. The approved order can automatically create a purchase order showing the preferred vendor for the item and the customer's shipping address.
If your customers order drop ship items from your web store, sales orders are created automatically.
Non-Inventory Items
You can record and track items that you always drop ship as non-inventory items. You can also record and track other items that you sell or purchase but do not stock as non-inventory items. The following are examples of non-inventory items:
Non-inventory items for sale – can be bought, sold, and consumed but are not added to a purchase order or kept in inventory. Non-inventory items for sale can only be sold to customers and entered on customer-facing transactions, such as sales orders, cash sales, or invoices.
Non-inventory items for purchase – can only be bought and entered on vendor-facing transactions such as purchase orders and vendor bills. These items are purchased by your organization but not resold, such as office supplies.
Non-inventory items for resale – can be bought and sold and appear on all applicable transaction types. This includes drop-ship items that you do not store but sell directly from the vendor.
Records include items you purchase and sell, but do not manage a physical inventory for, including:
Service Items
A service item is an item you create to track time and record billable hours.
Service items are classified as Services for Purchase, Services for Resale, or Services for Sale.
Services for Purchase – services your business buys but doesn't sell to customers
Services for Resale – services your business buys and then sells to customers
Services for Sale – services your business sells but doesn't buy
For example, Wolfe Software creates a service item called Installation. Because Wolfe's employees are providing the service, this service is considered a Service for Sale. When entering time records, employees can select this item to identify the amount of time they spent installing software for a customer. Then, Wolfe Software can invoice the installation time to the appropriate customer.
Download Items
You create download item records for files that you want customers to be able to purchase and download in your web store. Customers are charged per download item as opposed to per item. For example, if you want to charge customers for music downloads per song, you would create an item for each song. If you want to charge customers per album, you would create one item and attach each song for the album
Gift Certificates
You can create gift certificate items that allow customers to purchase store credit they can send to someone as a gift. The recipient uses the gift certificate authentication code when placing an order through your web store or entering a transaction with a sales representative. You can set an accounting preference for how you want to generate the gift certificate authentication codes. Gift certificate codes are not active until the order used to purchase the gift certificate is billed.
Clustering item records are used to assemble or package several items into one unit, including:
Item Groups
An item group is sold as a single unit, but made up of several individual items. An item group is a group of items on a sales or purchase order that need to be sold or purchased together. The item group is not fulfilled, received, or stocked. The components of the group are. However, the item group is available in the item list on a sales or purchase order and can be added to those transactions.
Kit/Package Items
Kits or packages let you create individually-sold items that are collected from other items.
- Add description, inventory, non-inventory, other charge, service, kit, gift certificates, and assembly items to your kits or packages.
- The price of a kit is not dependent on its components' prices and can be assigned several price levels.
- Assign multiple price levels to your kits and make them available in your website.
Partially fulfilled Kit/Package items display a quantity of zero (0) on printed invoices.
Assembly Items
Groups, assemblies, and kit/packages are all item types that combine multiple items together to sell. The information below helps distinguish each of the item types so you understand the differences between them and the uses for each.
Item records can help you with transaction management for selling and purchasing items, including:
Discount Items
You can create discount items to use on sales transactions. When these items are added, discounts are applied to the items being sold. Using discount items lets you track discount amounts without affecting inventory valuation. For more information, see Review or Create a Discount Item. You can add discount items as line items, or you can select a discount item in the body of sales transaction.
If you want discount items available to customers online, you must associate them with an item coupon, promotion code for use on your website. For more information, see Creating Item Coupons
Note: When using a discount item, be sure that the transaction item and the applied discount item have the same associated tax code. If the transaction item uses a tax code that is different then the tax code for the discount item, errors in tax calculations may occur.Subtotal Items
A subtotal item can be inserted on any line of a transaction and will subtotal the items above it, up to the next subtotal line. This allows you some added flexibility when calculating discounts. If you want to calculate a discount on the entire transaction, you can enter a subtotal line and then enter a discount item after it. Discounts entered above a subtotal line are figured into the subtotal. Discounts entered after the subtotal line apply to the subtotal amount.
The subtotal amount itself is not taxed even if the user is calculating taxes on the invoice. The sales tax is still calculated on the individual lines that make up the subtotal. If taxable and nontaxable lines are being added together to create the subtotal, taxes are still calculated only on the taxable line items.
Markup Items
You can use markup items to apply an additional charge to an order. Using markup items lets you track markup amounts without affecting inventory valuation.
For example, you can charge a rush fee for completing a service or delivering an item quicker than is usually guaranteed. You can choose to markup the amount for this charge by a flat additional fee.
Important: When you add a markup item as a line item, it increases only the line-item amount that precedes the markup item. This can be a line-item or a subtotal group. The markup can be either a percentage of the total amount for the line or flat rate.Payment Items
You can create payment items for types of payments that are made to invoices and should show separately. For example, you can create a payment item to specify a down payment amount. You can associate a payment item with payment methods, but payment items do not act as payment methods.