How to set or edit stock levels and alerts
Tracking quantities of products sold is key for businesses who sell products in addition to delivering services. This article explains how to set up your products for stock control.
In this guide, we will cover how to:
- Adjust the stock levels.
- Set the threshold for ordering alerts.
- View a history of any stock adjustments.
- Taking stock and reporting on current stock levels.
This feature is available on our Schedule and Sell plan; everything you need to take your business to the next level. Find out how to upgrade in our How to change your Timely plan guide.
Adjust the stock levels You can adjust the stock level for any product at any time, this is perfect for adding new stock after receiving an order, or making any adjustments after a stock take.
- Head to Setup > Products
- Edit a product by clicking the Edit button
- Go to the Stock control heading
- Click the [+] (plus) button to add stock or click the [-] (minus) button to decrease stock:
- Choose a reason for the adjustment from the drop-down list:
- Click Add or Remove on the adjustment pop up (see above).
- Repeat process for any other locations.
- Check the box Allow product to be sold even when out of stock? if the product can be sold when you have no stock on hand.
- Click Save to record the new stock levels.
If you have multiple locations, you can add different stock levels at each location.
Set threshold alerts Once products are in stock, you can set an alert for when a product quantity drops below a certain level.
- From the Setup > Products page, Edit a product and head to the Stock section (as above):
- If a product is Unlimited then the option to add an alert won't be shown (see above).
- As soon as a stock level is recorded, you can adjust the level in the Alert field:
- To be notified by email when stock levels drop below this threshold check the Send emails when available stock reaches the alert limit? check box.
- Click Save to apply any changes.
When the product reaches the alert threshold, this will send the account holder an email and a notification (in Timely):
View stock change history Every stock adjustment action will be recorded and viewable through the product history. The staff member who made these changes will also be included.
Go to the History section when editing a product:
Whenever stock levels are changed, associated sales will be checked and the stock levels will be offset against these manual adjustments (see above).
When you add a product to an invoice, then the stock level will be decrease accordingly once the sale is completed. Product sales will not show up as stock adjustments in the History.
Reporting on stock levels When it comes to tracking your stock levels, you have a couple of reporting options. These reports can be found by heading to the
Stock levels report
To view a list of all of your retail products and their current levels, choose choose the Stock levels report (in the Financial reports section). You can then select a location and click the View report button to generate the report.
The report will show you a summary of your current stock levels across your locations, as well as a detailed list of products. You will be able to view the # of stock available, the alert threshold, as well as the prices and value of stock on hand.
This report can only be run for today's date, so it's not possible to view this report for a past date. We recommend regularly exporting this report in its current state, if you require that information for future list e.g. run the report on the first day of every month.
Stock movement report
The stock movement report allows you to track any changes in stock levels within a certain date range.
This gives you a list of all your retail products and internal stock, then details their starting level and any Increases or Decreases during that date range: