How to Set Up Your Products on Ficos

Understanding Product Setup: A Simple Guide for Store Owners #

 
Hey there, shopkeeper! Setting up products in your store is one of the most important steps for keeping things organized and running smoothly. Don’t worry if you’re new to this—this guide will walk you through every step, from adding product details to organizing them into categories. By the end, you’ll have a tidy and efficient inventory system that makes managing your shop a breeze. Let’s get started!

Why Is Product Setup Important? #

Think of product setup as the backbone of your store’s inventory. It helps you:

• Stay Organized: A well-organized inventory makes it easy to find products and track stock levels.
• Serve Customers Better: Clear product names and prices help your staff find what they need faster.
• Manage Sales and Stock: Accurate product details ensure smooth sales tracking and inventory updates.

Getting your products set up properly saves you time, reduces mistakes, and sets your shop up for success.

Step 1: Access Inventory for Product Setup #

To start adding products to your store, follow these simple steps:

1. Go to the Inventory Section:
   • From your dashboard or home screen, scroll to the Business Manager section.
   • Select Inventory to open the screen where you can manage your products.
2. Start Adding Products:
   • Tap the plus icon (+) in the top-right corner. This will take you to the product setup screen.
   • Before starting, make sure you’ve already created product categories. Categories group similar items together, like “Clothing” or “Electronics,” to keep your inventory organized.

Step 2: Fill Out Product Details #

When adding a product, you’ll need to provide some basic information. Here’s what each field means and why it’s important:

1. Product Code:
   • This is a unique number or barcode that identifies the product. You can enter it manually or scan the barcode using the scan icon.
   • Why it matters: Having a product code makes it easier to track and find items in your inventory.
2. Product Name:
   • Enter a clear and descriptive name for the product. For example, if you’re selling a blue T-shirt, name it something like “T-Shirt – Blue, Large.”
   • Why it matters: Descriptive names help you and your customers easily identify the product.
3. Cost Price:
   • This is the price you paid to buy the product from your supplier.
   • Why it matters: Knowing the cost price helps you set a selling price that ensures profit.
4. Selling Price:
   • This is the price at which you’ll sell the product to your customers.
   • Why it matters: Setting the right selling price ensures your shop remains competitive and profitable.
5. Product Category:
   • Select the category that the product belongs to. For example, a smartphone might belong to the “Electronics” category.
   • Why it matters: Categories keep your inventory organized and make it easier for customers to browse products.
6. Tax Settings:
   • If the product is tax-free (e.g., exempt from VAT), mark it as tax-exclusive. Otherwise, enter the tax percentage applied to the product.
   • Why it matters: Correct tax settings ensure you comply with local tax laws and prevent billing errors.

Step 3: Choose the Stock Type #

When setting up a product, you need to decide how it will be managed in your inventory. This involves selecting the appropriate stock type:

• Variable Stock: Choose this option for physical products that have a countable quantity and require stock tracking. For example:
  • Examples: T-shirts, mobile phones, or canned goods.
  • You’ll need to specify an initial stock quantity during setup, and the system will automatically adjust the stock level as sales occur.

  Why it matters: Variable Stock is ideal for products that you need to track to avoid running out or overstocking, ensuring accurate inventory records.

• Fixed Stock: Select this option for items or services that don’t require stock level adjustments. Fixed Stock is commonly used for:
  • Services: Painting, lawn mowing, or live gigs—these are non-physical offerings that don’t have a tangible inventory count.
  • Meals: Made-to-order food items or other consumables prepared on demand.
  • Custom Orders: Products created specifically for a customer, such as personalized crafts or bespoke furniture.

  Why it matters: Fixed Stock is ideal for items that are not quantity-based or where tracking inventory isn’t relevant. This keeps your system efficient without cluttering it with unnecessary stock adjustments.

Why Choosing the Right Stock Type Is Important: Selecting the correct stock type ensures that your inventory is accurately represented and prevents errors in tracking. For instance, misclassifying a service as Variable Stock can lead to confusion, while incorrectly categorizing physical products as Fixed Stock might result in stock-outs or over-purchasing.

Step 4: Set a Low Stock Warning #

Enter a low stock threshold during setup. This is the point where the system will alert you that stock levels are running low. For example, you can set the warning at 10 units to ensure you reorder before running out.

Why it matters: Low stock alerts help you maintain good stock levels and avoid disappointing customers.

Step 5: Define Shelf Location #

Specify where the product is stored in your shop, like “Shelf A3” or “Bin 5.” This is especially useful for finding items quickly when restocking or fulfilling orders.

Why it matters: Knowing exactly where a product is stored saves time and keeps your shop organized.

Step 6: Finalize and Save #

Once all the details are entered:

1. Save the Product:
   • Tap Save Product to add the product to your inventory.
   • You’ll see the product listed in your inventory screen, ready to be sold.
2. Add More Products:
   • To add more items, repeat the process for each product.

Tips for a Smooth Product Setup #

Here are some tips to make your product setup even easier:

• Double-check details: Make sure prices, stock levels, and tax settings are accurate to avoid errors later.
• Use clear names: Descriptive product names help you and your customers find items faster.
• Update regularly: Keep your inventory up to date by adding new products and removing outdated ones.

Conclusion #

Setting up your products might seem like a small task, but it’s the foundation of a well-managed shop. By following these steps, you’ll create an organized inventory that makes managing your store easier and ensures your customers have a great experience. If you need any help, the Ficos support team is just a message away. Happy selling!

What our clients say #

I have managed to track my expenses better and been able to budget and plan better

Nayebare Jenuario #

★★★★★

Business has never been managed better on an app than with Ficos! No hardware costs, no implementation costs, the LOWEST cost of ownership and business intelligence at your finger tips! Thx Ficos team

Fort High #

★★★★★

Excellent app Very useful for business

Christian TABARO #

★★★★★