Welcome to the guide on how to use the Update Stock Opening Balance feature in Empress. This feature allows you to update the stock balance of an item in a specific warehouse at the precise date and time you’ll be going live on Empress.
Why is the Update Stock Opening Balance Important?
From a business perspective, having an accurate record of your stock is crucial. It helps in planning, forecasting, and managing your resources effectively. By using the Update Stock Opening Balance feature, you can ensure that your stock levels are up to date when you start using Empress. This correct record of opening stock will then be used in other transactions such as manufacturing and stock deliveries.
How to Use the Update Stock Opening Balance Feature
- Navigate to the Onboarding Step.
- Find and select the Stock Opening Balance option.
- Click on the Create Entry button.
- A form will appear for you to fill in the details about the item, warehouse, date and time. Ensure all details are accurate.
- When you’re done, click on Validate to save the entry.
Note: The Empress interface allows you to view, edit, sort, and track these stock updates easily.
User Roles and Permissions
The Administrator will typically handle the creation and validation of stock opening entries. However, Empress allows flexibility with user roles and permissions, enabling you to delegate this task to different team members if necessary.
Conclusion
The Update Stock Opening Balance feature in Empress is a valuable tool for businesses to maintain an accurate record of their stock levels. It’s straightforward, easy to use, and plays a significant role in inventory management and overall business operations.
For additional support, please refer to the video guide on Empress’s YouTube channel.
Remember, an accurate stock opening balance is the foundation of effective inventory management. Start your Empress journey on the right foot by utilizing this feature.