Inventory management

Track stock by warehouse, lot and serial number in Nordlet, with every receipt, sale, transfer and count posted to your books at cost.

Inventory is the goods a business holds to sell or to use in what it makes. Inventory management means knowing how much you have, where it is and what it cost.

In Nordlet, stock and accounting are kept together. When goods come in, go out or move, Nordlet records the movement and, where money is involved, the matching journal entry. You do not keep a separate stock list next to your books.

This page is for shops, wholesalers and small makers who buy, store and sell goods.

What Nordlet does

Warehouses. You create one or more warehouses and keep stock in each.
Stock in. Goods come in through a goods receipt against a purchase order, a registered purchase invoice with a warehouse, or a manual receipt.
Stock out. Issuing a sales invoice with a warehouse takes the goods out of stock and books their cost.
Transfers. You move goods from one warehouse to another. They keep their cost.
Write-offs. Damaged or lost goods are written off and the cost is booked as an expense.
Stock counts. You enter the counted quantity of each item, by item or by barcode. Nordlet books the shortage or the surplus.
Levels. Nordlet shows the quantity and the value on hand per item and warehouse.

How cost is worked out

Oldest first. When goods go out, Nordlet takes them from the oldest receipts first. This method is called FIFO, first in, first out.
Cost of goods sold. The cost of what you sold is booked when you sell it. See COGS.
Landed costs. Freight, duty and other extra costs can be spread over the goods they belong to, by value or by quantity. See landed costs. The part that belongs to goods already sold is booked to cost of goods sold.
Selling with no stock. You choose whether Nordlet refuses a sale larger than the stock on hand, or allows it and settles the shortage at the next receipt.

Lots, serial numbers and reordering

Lots. Items can be received into a lot with an expiry date. You can see how much of each lot is left.
Serial numbers. A serial-tracked item is received one unit at a time, and the same serial number cannot be in stock twice.
Reorder rules. You set a minimum quantity for an item. When stock falls to it, Nordlet lists the item and can notify your own system through a webhook.

Production

If you make goods, Nordlet keeps the recipe and the cost.

A bill of materials lists the components of a finished item and the share you expect to waste.
A production order uses the components from stock and puts the finished item into stock.
Work steps and work centers add labour cost by the minute. Quality checks can stop an order until they are recorded.
Work centers can have planned and completed maintenance.

The bills of materials guide shows each field and the entries a production order posts.

Frequently asked questions

When is stock taken out?

When you issue a sales invoice with a warehouse. The warehouse is chosen on the invoice or comes from its document series.

Can I bring my current stock into Nordlet?

Yes. The migration import takes the stock still on the shelf when you move from another system. See the migration guide.

Does a stock count change my books?

Yes. The difference between the counted and the recorded quantity is booked in one journal entry. Nothing is booked when the net difference is zero.