To configure item settings, navigate to:
📌 Settings Menu → Inventory Module → General Settings → Items Tab
1. Items Tab
The Items Tab contains default settings that apply to the Add Item form.
Default Profit Rate (%)
- This value is automatically populated in the Default Profit Rate (%) field when adding new items.
Sale Price Calculation
When adding items, the selling price is automatically calculated based on the selected pricing method. There are two options:
Option 1: Selling Price = Purchase Price × (1 + Profit Rate)
Formula:
📌 Selling Price = Purchase Price × (1 + Profit Rate)
✅ Example:
- Default Profit Rate (%) = 13%
- Purchase Price = ₦175,000
- Selling Price = ₦175,000 × (1 + 0.13) = ₦197,750
Option 2: Selling Price = Purchase Price ÷ (1 - Profit Rate)
Formula:
📌 Selling Price = Purchase Price ÷ (1 - Profit Rate)
✅ Example:
- Default Profit Rate (%) = 13%
- Purchase Price = ₦175,000
- Selling Price = ₦175,000 ÷ (1 - 0.13) = ₦201,149
Price Rounding Options
To control price precision, the system offers two rounding options:
1. Fractional Portion (Decimal Rounding)
- Defines the number of decimal places to round the selling price.
✅ Example:
- Fractional Portion = 2
- Original Selling Price = ₦155.747
- Rounded Selling Price = ₦155.75
2. Integer Portion (Whole Number Rounding)
- Rounds prices to the nearest integer.
✅ Example:
- Integer Portion = 1
- Original Selling Price = ₦154.59
- Rounded Selling Price = ₦160
Barcode Settings
There are two barcode display options:
1. Display a Short Description Below the Barcode
- When printing barcodes, a short description (up to 30 characters) appears below the barcode.
2. Display the Price on Printed Barcode
- When enabled, the selling price is printed on the barcode label.
✅ Additional Behavior:
- If the number of existing items exceeds X, you must enter a search keyword when selecting a product.
- If the number of existing items is less than X, all items are automatically displayed in a dropdown list.
Update Inventory Number Settings
- The "Do not update inventory numbers" attribute is automatically set to Unchecked for all items.
- Click Update to apply this setting across all items.
Final Notes
- These settings ensure consistency in item pricing, rounding, and barcode printing.
- Price rounding rules should be set based on business preferences to maintain accuracy.
- Barcode settings allow for enhanced product labeling and faster scanning.