Goldenseal Inventory Software

Goldenseal is inventory software that keeps track of the inventory items that you buy, sell or use in projects. It is designed for construction, small retail and service businesses, and small manufacturers that need accurate inventory control.

Inventory Management Basics

The Goldenseal software integrates inventory management as part of its other basic business functions. When you enter purchases, Goldenseal automatically increases your inventory counts. When you enter sales, it automatically reduces inventory. It's also easy to adjust inventory, manufacture items from components, or use inventory items in projects.

Goldenseal is an integrated software program which also helps you to run other aspects of your business. It includes all of the following:

Single-user version $695, Multi-user $995-1495. Includes free 'help line' support for as long as you need it. For more about Goldenseal, click here.

Inventory Accounts

The Goldenseal inventory accounting software lets you set up a separate Inventory account for each branch or location where you need separate inventory accounting. It adds the inventory value to your balance sheet, and adjusts inventory quantities at that location when you make purchases and sales, or use items in projects.

Cost Items and Assemblies

Enter a Cost Item record for each item that you buy or sell. If you keep an item in inventory, turn on the Inventory check box, and the Goldenseal software will automatically track its quantity when you buy and sell that item.

You can also create Assemblies which combine several items into a larger unit that you can sell or use in projects. An assembly can include any number of labor and material components. It computes a total price from the price of the components, and also reduces inventory quantities of the components when it is sold or used in a project. You can also use assemblies when you manufacture an item.

Inventory Purchases

The Goldenseal inventory tracking software automatically increases inventory quantities as part of your normal purchasing process. To make a purchase of items that you'll keep in inventory, follow these steps:

  1. Choose Material Purchases from the Costs menu.
  2. Click the New button to enter a new purchase.
  3. Choose Items in the breakdown popup at the left. You'll see a breakdown table where you can enter the items you are purchasing.
  4. Enter the items you've purchased into the breakdown table.
  5. Enter Inventory into the Job Class field, and enter an Inventory account into the Job field
  6. Hit the Enter key. Goldenseal automatically enters a purchase into your Accounts Payable, and adds the items to inventory.

Inventory Used

The Goldenseal inventory management software makes it easy to use inventory items in a project. It adjusts inventory counts, and also includes the item in time and materials billing and job costs for the project.

When you use inventory items in a project, follow these steps:

  1. Choose Inventory Used from the Costs menu.
  2. Click the New button.
  3. Choose Items in the breakdown popup at the left. You'll see a breakdown table where you can enter the items you are using.
  4. Enter the items you've used into the breakdown table.
  5. Enter the inventory account that supplied the materials, and the project where it was used.
  6. Goldenseal automatically removes the items from inventory. It also adds their cost to job costs and time and materials billing for this project.

Inventory Sales

Goldenseal inventory tracking software automatically reduces inventory counts when you sell an item, or provide a service that includes material components. It also calculates the retail price of each item, based on your markup and the style of "retail rounding" that you use.

When you sell items to a customer, follow these steps.

  1. Choose Sales from the Income menu.
  2. Click the New button.
  3. Choose Items in the breakdown popup at the left. You'll see a breakdown table where you can enter the items you are selling.
  4. Enter the items you are selling.
  5. Enter the customer name, and other details for the sale.
  6. Goldenseal will automatically reduce the inventory. It also adds the item to your Accounts Receivable (or Undeposited Funds, if it's a cash sale).

Inventory Transfers

The Goldenseal inventory control software makes it easy to add starting inventory, adjust inventory counts for "shrinkage" or waste, and change inventory counts when you manufacture an item from components.

To adjust inventory, choose Special Transfers from the Bank menu, and choose Inventory Transfers from the submenu.

You can add starting inventory, adjust inventory counts, and make any other type of adjustment.

Sales & Inventory Links

For more about inventory in the Getting Started manual, click here.
For more about inventory in the Reference manual, click here.
For sales and inventory Special Topics, click here.
For Goldenseal inventory tracking software Tech Answers, click here.