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Unit 5 – Masters 87

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Unit 5 – Masters 87

Surcharge %

This data field appears if you have enabled Additional Tax / Surcharge for the company and have specified a tax rate other than ‘0’ in the Rate of Tax (Central) data field. Specify the central rate of Additional Tax / Surcharge applicable for the item.

Tax on MRP

Specify ‘Y’ in this data field if you want to calculate tax on item MRP.

è If the state selected is Uttar Pradesh then two additional data fields Type of Item and Entry Tax Rate appear. Entry Tax Rate data field appears only if you have specified ‘Y’ in the Enable Entry Tax Rate option in Administration à Configuration à Features / Options à Sales Tax / VAT / GST tab. Specify the type of item i.e. VAT, Non VAT and Entry Tax rate applicable for the item in the data fields respectively.

Skip in Stock Ledger Printing

Specify ‘Y’ in this data field, if you do not want the item to be printed in Stock Ledger.

Set Critical Levels

Specify ‘Y’ in this data field, if you want to enter critical levels for the item. Critical levels imply setting the minimum / maximum / re-order stock level for an item. Setting critical levels for different items will help in generating Critical Level reports and Warning Alarms whenever the quantity of the item reaches its critical level. On specifying ‘Y’ in this data field, a Critical Levels group gets active. Let us discuss this group in detail.

Critical Level

Under Critical Level group, you can specify the maximum, minimum and re-order stock of the item. In the Critical Level group, you can specify the quantity and number of days for maximum, minimum and re-order level of item.

After entering appropriate data in the data fields, click the Save button to save Item master. On clicking the Save button, a Material Centre wise Opening Stock window appears. This window appears if you have specified some opening stock for the item and have created more than one Material Centre master (See sub topic 5.1.9). In the Material Centre wise Opening Stock Details window, you can specify details of item opening stock kept at various Material Centres. Given here is a screenshot of Material Centre wise Opening Stock Details window.

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Figure 5.10 Material Centre Wise Opening Stock Details

In the Material Centre wise Opening Stock Details window, a grid with various fields appears. Various fields in the grid are:

Material Centre

Select the Material Centre where the opening stock is kept.

Qty.

Enter the quantity of opening stock kept at the selected Material Centre.

Amount

Enter value of opening stock in this field.

è You can select more than one Material Centre master as it is possible that opening stock is kept at more than one Material Centres. For example, there is an opening stock of ten pieces of item LG AC 1.5 ton. Out of these ten pieces, six pieces are at Karol Bagh Godown and four pieces are at R.P. Bagh Godown. Hence in Material Centre Wise Opening Stock Details window, you can select Material Centres as Godown – Karol Bagh and Godown – R.P. Bagh and specify the quantity as six and four respectively.

After entering appropriate data in the fields, click the Ok button to save the details entered by you.

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