Inventory is your list of products and services. Once an item is in it, picking it on a sales or purchase invoice fills in its rate, HSN/SAC and GST, and if you track its stock, SmartLedger keeps a live count as you buy and sell.
Add the item
Go to Sales → Inventory.
Click New Item and choose Single item.
You can also click the + next to Inventory in the sidebar. To sell one product in several sizes or colours, each with its own price, choose Item with variants instead.
Under Type, choose Product for goods or Service for services.
Enter the Item Name and the other basics described below.
Fill in the Pricing and Tax section.
For a product, choose a method under Stock Tracking.
Click Create Item.
The basics
- Item Name — must be unique among your products (or among your services). Invoice lines are matched to the item by this name.
- SKU / Item Code — leave it blank and SmartLedger generates one from the name, starting STK- for products and SRV- for services. Two items can't share a SKU.
- Category — pick one from the list, or click Create a Category to add your own.
- Unit of Measure — required. Search the built-in units, such as Pieces, Box, Kilograms, Liters, Meters and Hours. If yours isn't listed, click Create a Unit, enter a Unit Name, choose its Measurement and click Add Unit. The new unit is then available for every item in the company.
- HSN / SAC — search for the code. Picking a code fills in its GST rates and locks them. Clear the HSN to change the rates yourself.
Pricing and tax
- Sales Rate — required. The price filled in when you pick the item on a sales invoice.
- Purchase Rate — the price filled in on purchase invoices. Stock value is worked out at this rate, so keep it current.
- GST Rate — choosing a rate fills in CGST %, SGST % and IGST %. CGST and SGST apply to sales within your state, IGST to sales across states.
- Taxable — turn it off for exempt or nil-rated items. Invoices then charge no GST on them.
Stock tracking
New products start as Don't track, which keeps no count. Choose a method to start counting:
- Quantity — a live count. Right for most goods.
- Batch & expiry — a batch number and expiry on every receipt.
- Serial numbers — one record per unit, such as an IMEI or chassis number.
Once you choose a method, two more fields appear:
- Opening Stock — what you have on hand now, as a whole number. It can only be entered when you create the item. After that, use Adjust Stock.
- Reorder Level — the item is flagged as low stock when it falls to this level.
Services never track stock.
Tips
- With batch or serial tracking and an opening stock, SmartLedger takes you straight to recording the batches or units once the item is saved.
- Turn off Active to hide an item from invoices and quotes without deleting it.
- Once an item has stock history, its type (product or service) can't be changed.
- To add an item like an existing one, choose Duplicate from that item's menu in the Actions column. The copy starts with no stock.
- Items at or below their reorder level are listed in a banner at the top of the Inventory page. Click Show Them to see just those items.
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