Setup and Overview



 

Neto advanced inventory not available on all pricing plans. Before proceeding, check if your plan is eligible for this addon.

If you are planning on migrating from Unleashed to Neto Inventory, it's best to review our comparison guide to make the best decision before switching over.

Neto advanced inventory will allow you to streamline you inventory management and deliver a true omni-channel experience. The main benefits of the advanced inventory system include -

  • The ability to accurately maintain real time inventory levels irrespective of the sales channel
  • Spending less time managing suppliers with ability to create domestic or foreign currency purchase orders
  • Track quantity, price and costing for SKUs
  • Perform advanced stock-takes and create stock adjustments
  • Generate inventory management reports including stock valuation and cost analysis
  • Seamless integration with Xero accounting platform
Please note: Neto Advanced Inventory is only compatible with Xero's accounting platform.

At the end of this setup, the average cost of goods (ACOG’s) on all products will be calculated and your first stock adjustment will be completed.

  1. To install Neto inventory from the dashboard, navigate to Stock Control > Purchase Orders and click the green Install Neto Inventory button.

  2. Alternatively navigate to Addons, click on the Inventory Management tab on the left hand side and locate Neto Inventory and click Install.

  3. Before enabling Neto Inventory, you may be asked to make some changes to your products to ensure the inventory system is tracking your data correctly.

    In the example, it’s warning us that cost prices are missing from products. This means when a sale is complete, it’s going to recognise the cost of the product as free with a 100% profit margin.

    You will also be asked if you would like to clear any Incoming Quantities you have previously set. Neto Inventory will automatically update incoming quantities based on the purchase orders your create. It is important to clear these, as once the Advanced Inventory setup is complete you will not be able to modify this data.


    Click Next Step to fix the products in question.

  4. Click the Generate product export button and download the CSV file to add the cost price for each product in Excel. Follow the steps on the page to re-import the file. Once complete, click Next Step.


  5. If you have Xero installed, you will be presented with the option to Configure Xero for inventory.

  6. In this section, you'll be asked to map your accounts. None of these fields are mandatory as they can be set by the user later by directly going to the accounting integration page later. Once complete, click Next Step.



  7. In this screen, you can review the changes the system is about to make on your products. For Xero users, when you are completing the wizard on the review step you will get a value for your stock. This inventory balance will need to be completed manually or adjusted in Xero.




    Important note: Please consult with your accountant to setup this initial inventory balance in Xero.

    This initial balance can also be retrieved at any time on your stock valuation report (located in Stock Control > Stock Valuation Report).

    Upon enabling inventory, the initial stock adjustments will set in Neto only. All other adjustment types will be synced in your accounting platform.

    Once you have set your initial inventory value in Xero and all exports are synced, this value should match the value of your inventory account.


    Tip: If you need to make an adjustment to stock value in Neto without updating Xero you can use the stock adjustment reason of initial stock adjustment.


    Once you are happy with the integration, click the Enable inventory button.


  • Last Modified: 06/06/2017 Neto Version: 6.8