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It’s an unexpected pleasure to find comprehensive inventory control in an accounting system. Especially when it’s completely integrated with payables and receivables, as it is in Pacifica.
But this is not ordinary accounting. This is software designed to run your business all day, everyday, where Management Information turns your inventory into profit.
Pacifica is entirely multi-user and is designed for high-volume operation. Why is that important?
Inventory is the key link between buying and selling. When you sell an item, purchasing needs to know. Not at the end of the month, but right now. When stock is received, sales needs to know that it’s available.
When the accounting department updates the cost of an item, every sale must reflect the new cost right now, not when you do the month-end posting. Pacifica allows your whole company to work together at once, as one beautifully coordinated and integrated unit.
For every dollar in the bank, you probably have a hundred times that much in your inventory. The financial forces that erode your cash are working even more destructively on your inventory. When your inventory isn’t turning, it’s costing you, and Pacifica gives you powerful ways to solve this problem.
Pacifica will tell you what to purchase based on quantity sold during each of the last twelve months, taking into account what is currently on hand and on order.
In addition, reorder levels can be based on a percentage of minimum or maximum desired stock level. This is called Order-Point Calculation. It’s a feature usually found only in mainframe dedicated inventory systems.
Pacifica can show you your best (and worst) performing items based on turns, profit or dollar volume, over any time period and across any inventory line or supplier.
Inventory items need to be set up only once in Pacifica. Items can be changed and updated any time, even after they have been used on orders and invoices.
Physical inventory adjustments are easy, and you don’t need to close up shop to take a physical count. A partial physical can be taken by warehouse location, category or product line, even while sales are occurring.
Price updates are simple too, with two different methods for mass price updates. The Reprice Matrix operates like a spread- sheet, and allows manual price updates by price code. The Price Update program automatically changes prices by percentage of cost or current price and even allows automatic rounding of cents to 0, 5 or 9.
Pacifica will properly handle any of the usual costing methods; FIFO, LIFO, average, current or standard. Pacifica elegantly handles the troublesome situation that may occur when an inventory item is sold before it is received into stock, and its cost is unknown at time of sale.
The Inventory Cost Correction program recreates the entire history of purchases and sales, and computes an accurate cost correction as of any date.
Any number of quantity break and price code lines can be set up for each inventory item to achieve fine control over pricing. In addition, the customer record can have its own list of special inventory prices.
Two costs are maintained; the current cost, updated by each new purchase, and the markup cost (optional) which you change manually, and on which prices maybe based by markup percent.
After you have targeted the slow-movers in your inventory, Pacifica can help you clear them out, too. You can enter a sale price and starting and ending sale dates for any item. The sale price does not take effect until the starting sale date, and it ends the day after the sale end date.
If a customer buys at a price code or quantity lower than the sale price, the lower price is charged.
Pacifica supports bill of materials processing and kits. A bill of materials allows any number of raw materials and components to be built into a finished inventory part, to be sold or included in the bill of materials for another part.
Stock levels and inventory costing are automatically carried through the bill of materials. Items may also be included in a kit, allowing a list of items to be exploded onto a sales order or invoice. The kit can have a total price and cost, or each item can have its own price and cost.
Serial or lot numbers or multiple store or warehouse locations can be applied to inventory items at time of purchase. The serial or lot number or location then becomes part of the permanent record from purchase through sale.
Until now, effective inventory management was beyond the means of most small and medium sized businesses. With Pacifica, it is no longer expensive and labor-intensive to apply the same controls that large businesses employ.
Better yet, you can try Pacifica with no risk whatsoever. A fully running version of all Pacifica products is available to evaluate on your own network.
You expect to turn inventory into gold? So give yourself the right tool… Pacifica is that tool!
"Corporate Inventory Control" is part of the Pacifica Professional Accounting for Windows line of products, developed by Pacifica Research.
Pacifica Professional Accounting for Windows is a horizontal product. It offers functionality designed for usage across a wide variety of industries and business types.