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Disclaimer: This page is available only if your business has signed up with Zenoti from July 2020 release.

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If you are a new center or a new franchisee, to get started with Zenoti Inventory, you need to set up the opening stock, also known as the starting inventory. This helps businesses to set the stock level and stock value for each center.

Important: If the current center is acting as a vendor, the opening stock process is not supported for such a center.

Prerequisites

Before you begin, ensure that you have completed the following:

To set up opening stock

  1. Ensure you are at the center level.
    Important: If the current center is acting as a vendor, the opening stock process is not supported for such a center.
  2. Click the Inventory tab.
    The Set Up Opening Stock page appears.

2. Select Add Opening Stock.
Important: Select Start stocks afresh if you do not have stock and you want to set up the starting inventory and value manually by raising purchase orders.
The Opening Stock page appears.

You can see all the stock that is added to your center.

Notes: If you do not see any product and you have the permission to add products at the organization level, you can go ahead and add the products. However, if you do not have permission, reach out to your corporate office or head office.

If a product is not active in your center, you can mark it as active.

3. Enter the following information for the desired products:

  • Vendor: Select the vendor from where you purchase the product.
  • Quantity: Enter the quantity of the product.
  • Unit Cost: Enter the cost at which you procure the product from the vendor.
  • Tax: Select the tax group that’s applicable.
    Important: If your business follows the tax-inclusive model, select the zero tax that your admin must have created for inventory.

For each product for which you want to set up the stock, you must enter the Vendor, Quantity, Unit Cost, and Tax.

  • Total Taxes: The tax paid for the total quantity of the product. It is calculated as,
    Total Taxes = Quantity x Tax
  • Sub Total: The total cost of the product including the tax, if applicable.
  • Notes: Enter any additional comments or information that you want to add for the product. The notes will appear on the Purchase Order and on Audits and Reconciliations in the Audit History report.

4. (Optional) At the top of the page, you can view the current date when the opening stock is being set up. However, if you want to change this date, click the Edit icon, select the desired date and time, and click Apply.

5. (Optional) Click Save Progress if you are not done entering the details for all the products.

Note: You can view the last time that the opening stock was saved at the bottom of the page.

6. Before you click Save & Finish to save the details that you have entered and complete the opening stock process, ensure that you’ve entered the details for all products.

The following dialog box appears.

8. Click Continue.

You’ve successfully set up the opening stock for your center.

What happens after the setup?

After you set up the opening stock, Zenoti automatically creates the following audits and purchase order in the exact sequence:

  1. Zero Audits - To clear the stock levels to zero
    Zenoti creates two audits - one for retail and the other one for consumables, both with zero quantities and reconciles the two audits automatically.

    You can view these audits and reconciliations when you navigate to Inventory > Reports > Audit History report.

2. Delivered Purchase Orders with details from the opening stock - To set the stock value based on the opening stock process
Important: Zenoti does not create transfer orders automatically.
Zenoti creates delivered purchase orders (with the quantity, cost, and tax that you’ve entered during the opening stock setup)for each product by vendor and by product type combination. For example, if you procure a product, let's say, Hair Shampoo, from one vendor Vendor 1 and the product type is both retail and consumable, the purchase orders are created as follows,

PO 1 - Hair Shampoo from Vendor 1 for retail
PO 2 - Hair Shampoo from Vendor 1 for consumable

You can see a banner text for these purchase orders when you view them from Inventory > Procurement > List of Orders page.

3. Actual Audits & Reconciliations with the opening stock

Zenoti creates two more audits - one for retail and the other one for consumables, with actual product quantities that you’ve entered during the opening stock setup and reconciles the two audits automatically.

To view the audits and reconciliations, navigate to Inventory > Reports > Audit History report.

You can see a banner text for these audits and reconciliations when you view them from the audit history report.

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