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Invoice paperwork for Inventory

hi guys davey from invoice ninja i'd like to take you through today our purchase orders which is a new feature in invoice ninja and how you can use purchase orders with the rest of the application to keep track of the inventory to restock your inventory and also how purchase orders can be then converted into an expense at a later date so that you can keep all of your critical business processes within invoice ninja so we'll go through by starting with a quick example let's start off by making sure that our inventory tracking is turned on and we're going to want to receive stock notifications and you can see here we've defined two as our global notification threshold so when any of your products reach 2 in quantity you'll be notified by email and this is a global but it can also be overridden as well so within our product and so let's create a new product and we'll call this for example a server and we're going to sell this server for a thousand dollars um we've got none in stock at the moment but we want to have stock notifications and if we want to override the default uh notification levels which is two which will set globally we can change that to five here and so that whenever this particular server reaches a quantity level of five will receive an email so okay we've got our first product we need some inventory now so to get some inventory we're going to raise a purchase order with our vendor and we're gonna we want some servers and so this is our sell price hopefully it's not our buy price as well we're going to reduce our make our buy prices and this is what we've agreed with our vendor it's going to be for 500 for units we're going to get 10 units and here we go we're going to send this off to our vendor so the vendor will then need to accept this purchase order and that forms a legally binding contract between yourself and the vendor and it guarantees you the price that you've you've requested and also uh guarantees the vendor that same price as well uh when when they deliver so we're gonna send that off and uh if we take a view of this from how the vendor will see this after they receive their their uh the email with the purchase order link they'll arrive back on your your portal they'll be able to to view the uh the purchase order and they'll be able to accept it at this point here so that's accepted there now if we head back into invoice ninja we can see the purchase order has been accepted so great we've accepted this some times gone past and the vendors delivered these goods to you so at this point we want to add these to our inventory so we're going to add this to our inventory and if we refresh the data here for our servers we should have 10 in stock and we do and we can see a notification threshold of five so it's worked everything's worked as we've expected if we want to take it one step further now that we've received it we can convert this into an expense because eventually you'll need to pay the vendor as well so you can see this is now expensed and you can see we have our our expenses 10 servers there at 500 each and here we are and this is all great and this is all all done and we can mark it as paid later on so you can see here we've captured the full purchase cycle from the purchase order to managing your inventory and then also being not receiving notifications about your products as well as they are as they hit their notification thresholds so hopefully this is of use to you and your business workflow if you have any questions please leave a comment in the comments below or send us an email to contact invoiceninja.com thank you