InventoryPower 5 - Inventory Software For SME

General

1. Could I use Inventory Power software for my company?
2. Can Inventory Power work in my country market and tax codes?
3. What is the account when I firstly login inventory management system?
4. Does everything have to be manualy put into the program database firstly?
5. What is the minimum requirements for Inventory Power server program and Inventory Power client program?
6. Where can I find a full information about barcode and barcode scanner?
7. What is FIFO, LIFO and WAC for inventory valuation?

Invoice

1. Can I use barcode scanner to create invoice
2. How to remove Header and Footer from my customer invoice print page
3. Why I cannot find image and background color in my customer invoice print page
4. Can I apply a payment AFTER I receive a payment weeks later

Support

1. I have a question for support

Cound I use Inventory Power software for my company
Inventory Power is an inventory management software that designed specially to meet the requirements of small and medium sized enterprises(SME). Inventory Power is suitable inventory management software for most SME style companys, such as computer store, cell-phone store, bookstore, boutique, shoe store, online shopping malls etc. Inventory Power has been tested in most company inventory management system conditions.

Can Inventory Power work in my country market and tax codes
Inventory Power is suitable inventory management software for worldwide country market. You can customize tax codes and value as your country and province demand. Inventory Power supports two tax codes, you can setting up tax codes and value in following window.

What is the account when I firstly login inventory management system
By default, the login name and password are:

Username: admin
Password: password

We recommend that you change the password after login.

Does everything have to be manualy put into the program database firstly
No need. You can create invoice right after program installation. Scan the item's barcode tag, if the item already exists in the stock, the item name, price and quantity will be displayed in the invoice item list. If not, "Update Inventory" window will appear and allow you to add the new item with the name, price, quantity and category to stock.

What is the minimum requirements for Inventory Power server program and Inventory Power client program
Server program: 333 MHz Pentium II, Ram 64 MB memory
Client program: 333 MHz Pentium II, Ram 64 MB memory

Both client program and server program run properly in Win 98, 2000, NT, Me, XP

Where can I find a full information about barcode and barcode scanner
For barcode knowledge and search for a good barcode scanner, you can refer website IDAutomation.com

What is FIFO, LIFO and WAC for inventory valuation?
FIFO(First In First Out) is an asset-management and valuation method in which the assets produced or acquired first are sold, used or disposed of first. FIFO may be used by a individual or a corporation. For taxation purposes, FIFO assumes that the assets that are remaining in inventory are matched to the assets that are most recently purchased or produced. Because of this assumption, there are a number of tax minimization strategies associated with using the FIFO asset-management and valuation method.

LIFO(Last In First Out) is an asset-management and valuation method that assumes that assets produced or acquired last are the ones that are used, sold or disposed of first. LIFO assumes that an entity sells, uses or disposes of its newest inventory first. If an asset is sold for less than it is acquired for, then the difference is considered a capital loss. If an asset is sold for more than it is acquired for, the difference is considered a capital gain. Using the LIFO method to evaluate and manage inventory can be tax advantageous, but it may also increase tax liability.

WAC(Weighted Average Cost) method takes the weighted average cost of all items available for sale during the accounting period and then uses that average cost to determine the value of the cost of goods sold and ending inventory.

For full details, you can refer Inventory Valuation For Investors: FIFO And LIFO from investopedia.com

Can I use barcode scanner to create invoice
Yes, Inventory Power support barcode scanner. You can use barcode scanner to create invoice and update inventory.

How to remove Header and Footer from my customer invoice print page
If you find header and footer in customer invoice print page, you can remove them as follows:

1. open Internet Explorer
2. click "Page Setup" under "File" menu
3. remove "Header" and "Footer" setting string
4. done

Why I cannot find image and background color in my customer invoice print page
If you cannot find image and background color in invoice print page, you should set it up in Internet Explorer options. Do it as follows:

• open Internet Explorer
• click "Internet Options..." under "Tools" menu
• click "Advanced" panel
• select "Print background colors and images" in "Printing" section
• done

Can I apply a payment AFTER I receive a payment weeks later
Yes, Inventory Power support later payment method. You can change the payment status after the invoice has been saved.

I have a question for support
If you have question or advice, feel free to contact us online