Glossaries

The Stock item is active.

The Stock item can be used on the patient, billed (sales) and received (purchases).

The Stock item can be adjusted.

Roadmap:

1. M Stock > M1 Stock Setup > SM1 Stock > Category > Correct Item > B Edit > Active.

Adding a new Stock Item enables you to add new inventory items into the system. This is particularly useful for items used in the Practice that are not managed or maintained by IQest or Medprax. 

Please Note: When using IQest or Medprax, you must contact the respective provider to add a new item to their list. IQest or Medprax will then reach out to the supplier to obtain the correct information. Once the item details are acquired, their records will be updated and the updated file with the new item as requested will be sent.

If an item is not included in the Stock file, this item will not be automatically updated. You will be responsible for maintaining and updating the information for that item manually on a regular basis.

Web App:

Adding and Linking New Items is often necessary when items that were not included in the original snapshot are discovered. These may include newly received items, overlooked products, or items not yet recorded in the system. Allowing these items to be added during the Stock Take ensures that all physical inventory is accurately captured without restarting or delaying the process. This saves time, reduces manual effort, and helps prevent errors, which improves the overall accuracy and efficiency of inventory management while ensuring that all changes are communicated and traceable.

A machine-readable code in the form of numbers and a pattern of parallel lines of varying widths, printed on a commodity and used especially for stock control.

The best barcode method to use is to use double sided barcodes to put on the item and can be pulled off and put on the charge sheet in the patient file for billing and scanning purposes. 

Roadmap:

1. M Stock > M1 Stock Setup > SM1 Stock > Categories > Choose the correct item > M1 Print > SM1 Print Barcode.

• A batch is a defined quantity reflecting one homogeneous process including all materials, equipment, and processes used from raw material to packing material. This ensures that products with the same batch number are homogeneous in all aspects.
• A batch code is an identification code assigned to a batch of cosmetics, material or medicine. It may contain information such as manufacturers code, production date, etc. The batch code is usually printed with a laser printer.
• Batch tracking allows a product to be traced, end-to-end, from the manufacturer through a supplier to the practice. The process is used to keep track of which practices received specific batches of product and when they were received.
  
• Serial Number A serial number is a unique identity for a specific item. For example, you can locate a computer using its serial number. The serial number can provide additional information regarding a specific item as its manufacturing date, warranty data, and so on.
• A batch number is an identification number assigned to a particular quantity or batch of material from a single manufacturer. Batch numbers can typically be found on the outside of the packaging.

A Bin is a place where stock items are placed.

You can also call the bin as a basket or shelf.

The item can only be placed in one bin (place).

An example is "Emergency trolley".

Bonus Stock is items you receive extra with your order that you do not have to pay for.

Broken Stock is stock that has fallen or you are unable to use because the item was damaged.

Web App:

The value of the items can be calculated incorrectly when there are data problems on your databases. This will be an ongoing problem when working with minus stock levels. The system does not know which value to use for the stock that goes into a minus stock level, because according to the system the practice does not have any units of the stock item.

If the item price has a high increase or decrease in price the value can also be incorrect. The system calculated the value with the last 5 years transactions, depending on the set-up of the practice. 

In certain cases, the units will be zero but still, have a value that must be corrected with a re-evaluation. This will happen when the item prices have big differences, the weighted average must be corrected. The Force Zero Value if Qty zero function will show all the items that have a value but with no quantities, and will adjust the value when this is posted.

The re-evaluation will be done with a stock adjustment using the Stock Adjustment List function. The function has a build-in re-evaluation with Last Purchase price, Unit price or List Price and at hospitals to NAP price.

When mistakes were made in the system and not rectified with the correct transactions, the stock value will need to be reset. This is not an everyday function that can be used and should only be used at the last resort. GoodX can be contacted to assist in this process. The weighted average will be reset and re-calculated according to the Last purchase price, unit price or list price and at hospitals to NAP price.

Web App:

Desktop App: