Create a Stock Material record for tracking inventory quantities and costs. For this example, we are creating a record for Motor Oil.
- Click Resources.
- Add a Material layer.
- Click Create.
- In the Description field, enter Motor Oil 5W30.
- Enter Material details.
Set the Default Usage Quantity and unit to 4 qts to speed up resource entry.
- Fill in the Inventory Control fields to assist with cost calculation and ordering.
- Leave the Stock Item selected.
- Click Finish & Save.
The material record displays in the Detail view.
Add a Stock Transaction
In order to use a stock material record on a task, the material must have quantity on hand. To add quantity on hand, a stock transaction action is performed.
- In the Material Detail view, click Actions>Stock.
- Enter the date the material was added to inventory.
If using Advanced Materials, select the Location the material was stocked in.
- Enter the Quantity and unit.
A stock material is used in similar units as it is stocked. For example, oil is stocked in gallons and it can be used in gallons, quarts, or fluid ounces.
- Enter the Price Per Unit.
- The Cost is calculated from the Quantity and Price.
Select the Vendor the material was ordered from.
Enter a Purchase Order number.
Enter any notes.
- Click Save.
The Quantity on Hand and Value of Stock are updated.