This article is a collection of other setup-related articles. Links to the other articles can be found throughout!
Before you get started, we recommend you watch this quick introductory video tour:
STEPS 1 through 10:
(1) Adding & Editing a Location
- To create a new location, select the Create A Location button.
- Assign a new name to your location. You can always edit location information later on by clicking on the location name.
- A location without an integration will be considered a "warehouse" location. Products are tracked, can be manually adjusted, and can be transferred to other locations. Shopventory will keep notes on which Products are where, but they can only be sold from locations with connected POS accounts. Learn more about warehouses here.
Note: The time zone that's set in the Locations & Integrations tab is what will be used to generate your reports, so make sure the time zone is accurate.
- If you have more than one location for your business, add them now! After you create an additional location and fill in the basic info, you can add an integration (e.g. a Square or Clover account) to track your sales. Now Shopventory can help you manage your inventory all across the board.
(2) Connect a merchant account integration
You can do this in the Locations and Integrations tab in the Settings section.
- To add an integration to an existing location, click the Connect a merchant account to ______ button:
- You can also add additional merchant account integrations to the same location by clicking on the Location Name:
- The next screen will prompt you to pick your POS (Point Of Sale) provider.
- You will be prompted to login and "introduce" Shopventory to your register so we can have authorized access to pull information from that register.
- Click on the merchant account integration you want to connect and follow the steps!
Note: Going forward, all additions, updates, or changes to inventory should ONLY be made in Shopventory.
(3) IMPORT inventory information from your POS (Point of Sale) / E-commerce provider to Shopventory:
Integration ===> Shopventory
Shopventory does not receive inventory updates from your POS automatically. Here's how to overwrite Shopventory with the latest data from your provider.
- Go to the Locations and Integrations tab in the Settings section of Shopventory.
- Find the integration you wish to import from and click on the integration name.
- Click on the gear wheel in the top right corner and select the "Import from integration" option. The following page will give you options for what information to import.
The import process is not selective and cannot be undone, so be sure that your POS provider has the correct information before importing!
(4) Activate inventory syncing
In the Locations and Integrations tab of the Settings section, you can choose the Sync Settings for each of your locations. Simply click on the Integration name to view the settings.
Sync products and variants
This option means that any Products and Variants created in Shopventory will automatically be created in your point of sale.
It also means any changes made to things like Product Name, Variant Name, Price, SKU, etc. will also be reflected in the point of sale. It is recommended to have this enabled so any changes made in Shopventory reflect in your register.
Sync inventory quantities
This option will make it so that any changes entered to inventory quantities in Shopventory will automatically be reflected in the point of sale. This is also recommended as inventory should only be managed in Shopventory.
If you have particular Products whose quantity you don't want to track, those can be managed independently in the Inventory section of Shopventory.
We strongly recommend BOTH options be turned ON.
What changes when using Shopventory is all updates, changes, and additions to inventory are made in Shopventory rather than your point of sale provider's system.
With both options enabled, Shopventory becomes the Primary Database. This means Shopventory has the final say over what the inventory numbers should be. Ergo, all inventory information entered into Shopventory will be pushed out the point of sale. No changes to inventory made in your point of sale will be synced back to Shopventory.
With neither option enabled, Shopventory is only reporting on sales, not helping you track vital changes to inventory like costs or quantity updates. This is not recommended.
Do you want Shopventory to put Products back on the shelf if they've been refunded? By default, Shopventory will NOT re-stock refunded Products.
You can click on the integration name to select whether you'd like Shopventory to re-add returned Products into the inventory for that integration. Setting the toggle to 'On' means Shopventory will automatically put refunded Products back into the available inventory.
(5) Update the COGS (Cost of Goods Sold) and inventory quantities for all products
If you haven't assigned the costs for your products yet, now is the time! Once you have your COGS and inventory quantities accurate, you can start using our reporting tools in various ways.
Shopventory tracks costs over time by "Lot"
A "Lot" is a batch of units that are received for an article of inventory.
For instance, if I add a quantity of 12 units to one of my products, I have added a Lot that contains 12 units to that particular product.
This means you can track changing costs easily and accurately.
Lot Cost vs. Default Cost
The Lot Cost is the cost entered for the latest shipment of inventory for this Variant.
The Default Cost is the cost that Shopventory pre-fills when adding quantities or when adding product to a Purchase Order (Changing the Default Cost will not change any pre-existing Lot Costs for that product.).
In other words, let's say I usually pay around 78 cents for my oatmeal raisin cookies; I can enter this as my Default Cost. But for my last order, I paid 77 cents.
So right now, I'm selling from the batch that was 77¢ per cookie. This is the Lot Cost for that Lot:
This number is set when creating or editing an Product in the 'Inventory' section of Shopventory.
This is the cost of the Product that will be assumed whenever a new Lot (incoming quantity) of inventory is entered.
This is also the cost Shopventory will fill into Purchase Orders when that product is added.
In other words, this is what Shopventory assumes this Variant costs when you're receiving a shipment going forward.
A "Lot" of inventory is defined as a group of units that arrived in a given shipment. For instance, a case of soda received in one shipment would constitute one Lot. Four cases of that same soda received in a subsequent shipment would constitute another Lot.
The cost for each Lot of any Product can change over time. A case of inventory purchased in January likely will not cost the same as a case of that same inventory purchased in June.
Therefore each Lot received can be assigned its own cost and tracked over time.
Lot history can also be edited if a cost was entered incorrectly. To view your Lot history, simply click on the current cost of that Variant:
Lot history and lot costs are also factored into the sales reports and inventory reports in the Reports section of Shopventory.
All my lots are 'Not Set'
If you find that you have a large number of of empty Lot Costs to deal with, you can backfill all of them at once where current default costs exist.
To do this, navigate to the Advanced tab in your Settings pages and launch the task:
Note: An Product without a quantity in stock cannot have a lot cost, since by definition there is no lot to which a cost can be applied. These Products will say "Not Set" even if a default cost is in place.
Add a quantity in order to add a Lot Cost.
Costs and Profit Reports
Profit is calculated using Lot Costs only, so if you see "not set" in a sales report, you'll need to go back and enter the lot cost associated with that particular sale (as shown above). The sales report will update accordingly once a value is entered.
(6) Update inventory quantities
If you're an old pro at tracking inventory and your POS accounts are up to date, you're good to go! Shopventory has the latest.
In case you don't really know what's on the shelf, have no fear! We have the tools for that. Download our reconciliation worksheet, get out there and get some numbers, and start fresh. After you have your numbers, you can update your quantities all at the same time (see how).
To update inventory quantities, costs and prices in Shopventory, just go to the Inventory section and follow the steps below:
- Click on the Actions dropdown.
- Use this to adjust an existing quantity to match what you have in stock such as when you do an inventory recount to verify.
For Example: If you have an existing quantity of 5, editing using this option will replace that 5 with whatever new quantity you enter.Changing the cost, will update the Default Cost. It will not affect change any Lot Costs.
- Useful for: Updating many Variants after a manual count & updating prices.
- Use this to add new products to existing quantities.
For Example: If you have an existing quantity of 1, adding 5 using this option will give a total of 6 products when you save.
- Changing the cost will enter the incoming Lot at the new cost. It will not affect the Default Cost.
- Guide to Receiving Inventory
- Useful for: Receiving new shipments of existing stock & updating prices.
Note: You can also "Add" a negative number (e.g. "-3") to deduct quantities instead of editing
- This option will take you to the Internal Transfers page where you can move inventory between locations. Learn more
Make your changes!
Depending on which option you picked, you will see fields enabled on products in the table below.
Always leave a note!
Notes are strongly recommended for all changes. You can always go back and see the note that was made on any change.
Shopventory makes it easy to manage inventory and keep track of all changes to your Inventory History. Simply click on the number in the Qty. In Stock column to view the Inventory History.
(7) Add new products
Are you selling something that's not in your POS? It's easy to create new Products in Shopventory. If you want your inventory to be as accurate as possible, make it a priority to get those new Products in Shopventory this week!
- From the Inventory screen, click on the Create Product button
This will pull out the Product Creation panel. (You can add an image by clicking on the gray box at the top of the panel with the camera icon.)
- Fill in the corresponding fields to add Products and their corresponding Variants. Shopventory offers three "layers" of differentiation: Category, Product Name, and Variant Name.
You can add one variant at a time or generate them with our Matrix feature to save time. Each of the fields do allow you to add plenty of info, so for instance:
Category: Men's Shoes
Product: Nike X5 - Black
- Variant: Size 10
- Variant: Size 10
- Variant: Size 8 ... etc.
There are any number of configurations, so consider what else might work for you:
Product: X5 - Black
- Variant: Mens - Size 10
- Variant: Womens - Size 10
- Variant: Mens - Size 9 ... etc.
It depends on what makes the most sense for your business, but the tools are all there!
See for yourself!
SKU's and Barcodes
- SKU and Barcode fields are optional when creating Products.
- SKU numbers must be unique to each Variant.
- Barcode numbers can be re-used across multiple Variants.
- Simply click on the Generate SKU option to generate a SKU number.
Note: Active Products appear on your point of sale. Inactive Products will not show in your register and will only be accessible in Shopventory.
Locations and Tax Rates
- To enable your Products and to enter List Prices, Costs, and Quantities, simply toggle the Location to enable those fields.
- Once information is entered, simply scroll down to select your applicable Tax Rates.
- For help setting up your Tax Rates, see our article on Tax Rates.
Feel free to experiment and get creative! If you need ideas. Check out this post from the Shopventory blog for tips on maximizing your tools!
(8) Start managing your vendors
It's time to eliminate the sticky note pile.
Adding a New Vendor
- Simply click on the "Create Vendor" button and fill in the fields to add a vendor to your list.
- You can add a logo by clicking the gray photo icon at the top of the form
- You can toggle multiple locations for a single vendor
- All contact information fields are optional, so only enter the relevant information.
- Tags allow you to categorize your vendors for easy look-up
- Address and Note fields have high character limits, so you can add a lot of information if you need to.
Multiple Vendors can be added at once using Shopventory Bulk Uploads Learn more
Click the "Edit Products" button at the bottom to assign products to a vendor.
Once your products are assigned to their Vendors, Purchase Orders can be created for that Vendor.
Things to Note
- Deleting a Vendor will cause that vendor to no longer show up on any reports.
- If a deleted Vendor is re-created, it will appear as a new Vendor.
*Only available on Standard plans and up*
Once your vendors have accounts created for them, the next step is to connect them to the products they sell.
- To do that, just click on the vendor's name in the list and tap the "Edit Variants" button at the bottom. Find their products on the left, click the little plus sign to assign them over, hit Done, and Save. That's it!
(9) User Access Control
Shopventory Access Control allows you to have multiple users on your account with custom permissions. You'll be able to add users to your account and define permissions in the Settings section of Shopventory.
Access Controls also include a full Audit Log so you can review changes made by each user.
Adding a User
- To add a new user to your account, go to the Access Control tab in your Shopventory Settings. The number of users available to you depends on your subscription and billing add-ons.
- Once you start a new user, you can enter in their email which they will use to log in, then name, password (optional), and finally the permissions this user has to your account.
- You have the option to create a password for the user or leave the password field blank. If left blank, we will send the user an email link that allows them to set their own password.
- View reports - User able to access all reports (cost and profit values may be hidden: see below)
- View cost & profit margins - User will see cost of goods and profit information
- Update stock counts & prices - User will be able to update quantities. prices, and costs (if View cost & profit margins is enabled). (ON by default if Product management is enabled)
- Product management - User can make updates to inventory information (e.g. create products, edit prices, update quantities, etc.)
- Manage POs - User can create and edit Purchase Orders. Since this requires access to view costs, it also requires the View cost & profit margins permission to be enabled.
- Receive POs - User can receive Purchase Orders.
- Manage Internal Transfers - User can create and edit Internal Transfers.
- Receive Internal Transfers - User can receive Internal Transfers on permitted locations
- Account management - User has access to view and update settings, including integrations, business info, and billing
- Manage users & permissions - This user will have access to the Access Control tab and can manage the permissions of others
Note: Certain permissions are dependent on others. Just hover your mouse over the (i) for details:
Shopventory allows you to limit a user to only select locations. This means you can restrict a user from certain functions by location.
Note: Certain permissions, such as Product management, require all locations to be enabled. This is because Products are cross-location by nature, so the ability to create or edit many Product properties is a multi-location permission.
Total number of users available per plan:
- Starter plan: 1+
- Standard plan: 3+
- Professional plan: 10+
- Elite plan: 25+
Additional users can be added in groups of 5 as a Billing Add-On. Each additional group of 5 costs $50/mo or $500/yr ($42/mo).
(10) Set your Alerts to get notified when Products run low
This is one area where Shopventory can really give you a hand. If you're tired of finding out too late that an Product is out of stock, let's get you ahead of the game!
The first thing you'll have to decide is what qualifies as "low inventory." This will be different for various products and categories. If a product is fast-moving or you need a lot of lead time to order a new shipment, "Low" might mean a higher quantity. If you only have a few of an Product to begin with, or it tends to sell only occasionally, you might not want to be notified until inventory hits 2, 1, or even 0.
When you've decided how you want to be notified of low inventory, methodically go through your inventory and create your alerts accordingly.
Creating an Alert
- To start a new Alert, simply click on the Create an Alert button in the Alerts section of Shopventory.
- Give your Alert a name. Good labeling practices are half the battle when it comes to inventory management!
- Fill in the first condition. It can be either:- Quantity - is less than or equal to - This is the 'magic number' that will trigger the alert. or...- Days of Stock Remaining - This is based on Shopventory's Stock Remaining Reports. How many days are left before you run low. (Professional and Elite plans only)
- If you want to narrow it down further, add more conditions.
See for yourself!
Once the Alert has been created, it will display in the Alerts section.
Shopventory will also notify you via email once alerts trigger. You should receive regular emails if there are Products under alert.
Currently, emails are the only way to receive external notifications about alerts, but we are exploring added options such as SMS or via a mobile app.
- Alerts are specific to individual users.
- If product is running low when the alert is set, an email will not be sent right away— not until the product hits the alert level again.
- Each user has their own set of alerts. Learn more
To Edit or Delete an Alert, simply click on the Alert name
Active Alerts Will Display in your Dashboard
View All Low Inventory Products
You can also view all your low products at once in two ways:
- In the Inventory section using the 'Low inventory' filter in the Products & Variants tab:
- You can also simply pull a Low Inventory Report
That's all there is to it! Shopventory will also let you know via email the next time inventory runs low.
If you've made it this far, you're in great shape to manage your business more effectively and with less effort than ever before. Stick with it, and we have no doubt you'll see the returns on your investment continue to grow.
Keep up the good work!
- Shopventory is inventory home base. Make your changes here, and everything will be reflected in your Point of Sale automatically.
- Come back to the help section as you need it. It’s the best place to find quick answers!