Item master
The item master is a file that holds information about an item, regardless of where that item is used. You can assign item masters to an item group so that several companies can share an item, as long as they share an item group. Information that is stored in the item master includes unit of measure and packaging information. Items are then assigned to specific locations.
Serial number-tracked items
Items that have serial numbers can be tracked in Inventory Control.
Serial-tracked items can be issued or received. For example, if five computer monitors are issued by a location, and each monitor is serial tracked, all five serial numbers must be listed on the issue. The serial numbers denote which specific monitors were issued. Typically, items are tracked by serial number if they are highly valuable or if it is important to track individual items. For example, serial number-tracked items can include refrigerators, computers, heart monitors, and cash registers.
Lot-tracked items
A lot number is a unique number that is used to track a group of lot-tracked items throughout production.
A lot-tracked item can be set to Issue or Receipt. For example, medications might be lot-tracked to denote the date the items were received. In this example, if a defect is found in one item in the lot, then the entire lot can be tracked.
Taxable items
You can define tax defaults, including tax status and tax code, for each inventory and non-stock item in four places: item master file, item location file, requisition header, and purchase order header. The tax status indicates whether the item is taxable. The tax code indicates the tax rate and the type of tax.
When you create a purchase order, the items are taxed according to the tax status and the tax code that are associated with each item. You can apply a tax code after you determine that the item is taxable.
If a tax value exists on both the item master and item location files, then the tax from the item location file is the default. You can use this to regulate the tax status according to its use at each location. When you define tax information at the header level, the tax is applied to any item without an associated tax status and tax code. In other words, only items with a blank tax code on the item master or item location files are overridden.
Applying item tax
An organization uses ibuprofen for first aid kits in the administration office and in the hospital. This table shows how the item records for ibuprofen are set up:
| Item record | Taxable status |
|---|---|
| Item Master Record | Non-taxable |
| Item Location - Admin. Office | Taxable |
| Item Location - Hospital | Non-taxable |
| Purchase order | Taxable status |
|---|---|
| PO Default Tax | Y - Taxable |
| Item Tax | Default |
In this situation, you can add a purchase order for ibuprofen for the administration office. The result is that the ibuprofen is taxable on the purchase order. The item is taxable because the item location record for the administration office overrides the item master record. Using the item tax option for the purchase order line, you can override this status when creating a purchase order.