Item Groups: Organizing Your Products

Item Groups: Organizing Your Products

Overview

This article will help you understand, create, and manage item groups in iVendNext. 




What are Item Groups?

Definition

Item Groups are categories used to classify items based on shared characteristics, such as type, usage, or function. For example, you can create item groups for "Electronics," "Apparel," or "Raw Materials." Item groups help in organizing your product catalog, making it easier to manage and retrieve items.



Benefits of Using Item Groups

  • Improved Organization: Grouping similar items together makes it easier to manage and locate products.

  • Enhanced Reporting: Generate reports based on item groups for better insights into sales and inventory.

  • Streamlined Pricing: Apply pricing rules and discounts to entire item groups.

  • Efficient Inventory Management: Track stock levels and reorder points by item group.



Prerequisites

Before creating item groups, ensure that the following are set up in iVendNext:


  1. Company: Define your company details.

  2. Warehouse: Set up warehouses where items will be stored.

  3. Price List: Create price lists for selling and buying items.



Step-by-Step Guide to Creating Item Groups

The steps to create a new item group in iVendNext are summarized below:


Step 1: Access the Retail Module

  1. Log in to your iVendNext account.

  2. Navigate to the Retail Module from the main dashboard.


Step 2: Navigate to the Item Group List

  1. In the Retail Module, go to Stock > Items and Pricing > Item Group.

  2. Click on the Add Item Group button to create a new item group.


Step 3: Fill in the Basic Details

  1. Item Group Name: Enter a name for the item group (e.g., "Electronics" or "Apparel"). This is a mandatory field.

  2. Parent Item Group: Optionally, select a parent item group if you want to create a hierarchical structure (e.g., "Electronics" as a parent group with "Smartphones" and "Laptops" as child groups).

  3. Is Group: Check this box if you want to allow only leaf nodes (individual items) in transactions.


Step 4: Configure Defaults

  1. Default Warehouse: Select the default warehouse where items in this group will be stored.

  2. Default Buying Cost Center: Specify the cost center for purchasing items in this group.

  3. Default Selling Cost Center: Specify the cost center for selling items in this group.

  4. Default Price List: Select the default price list for items in this group.

  5. Default Discount Amount: Specify the default discount amount for items in this group.

  6. Default Expense Account: Specify the default expense account for items in this group.

  7. Default Income Account: Specify the default income account for items in this group.


Step 5: Configure Item Tax

  1. Item Tax Template: Select the default tax template for items in this group.

  2. Tax Category: Specify the tax category for items in this group.

  3. Valid From: Set the start date for the tax validity period.

  4. Minimum Net Rate: Specify the minimum net tax rate.

  5. Maximum Net Rate: Specify the maximum net tax rate.


Step 6: Save the Item Group

  1. Once all the required fields are filled in, click the Save button to create the item group.

  2. The item group will now be available in your item group list and can be used to categorize items.




Managing Item Groups

1. Adding Items to an Item Group

  • When creating or editing an item, select the appropriate item group from the dropdown menu in the Item Group field.

  • Items can be moved between groups by updating the Item Group field in the item details.


2. Updating Item Group Details

  • You can update the details of an item group (e.g., default warehouse, price list) at any time by editing the item group.

  • Changes to the item group will apply to all items within that group.


3. Deleting an Item Group

  • To delete an item group, select the group from the item group list and click the Delete button.

  • Note: You cannot delete an item group if it contains items. Move or delete the items first.



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