Phase 3
Next Steps
📦 Items & Inventory Management
Whether you sell physical products or professional services, Versoll Books helps you track what you sell, what it costs you, and how much you have left in stock. This is the foundation of both your sales and purchase modules.
Goods vs. Services
Versoll Books distinguishes between physical "Goods" (which have stock levels) and "Services" (which are intangible). Goods require HSN codes and inventory tracking, while Services require SAC codes and don't affect stock levels.
Creating Your Item Master
Go to Inventory > Items > New Item to populate your catalog.
1
Item Classification
- Maintain Stock: Toggle this on for physical goods. Leave it off for services or non-stock consumables.
- Item Group: Organize items into categories like "Electronics", "Consulting", or "Raw Materials". This is used for filtered reporting.
- Valuation Method: Choose how the system calculates your stock value (FIFO is standard).
2
Pricing & Taxing
- Standard Selling Rate: The default price used in Invoices and POS.
- Standard Buying Rate: The default price used in Purchase Invoices.
- GST Rate & HSN/SAC: Critical for tax compliance. Ensure these match official government classifications.
⚠️ Low Stock Alerts: Set a "Reorder Level" for each item. Versoll Books will automatically notify you when stock falls below this level, helping you prevent stockouts and lost sales.