Features of Serial Number Tracking Functionality

• Unique Serial Number Assignment: Allows users to assign a unique serial number to each individual item during the purchase or production process.
• Purchase Tracking: Tracks the movement of items from procurement to the point of sale, ensuring that each serial number is associated with the corresponding purchase transaction.
• Inventory Management: Maintains a comprehensive database of inventory items, including their respective serial numbers, quantities, and other relevant details.
• Sales Tracking: Records the serial numbers of items sold, providing a detailed record of their movement out of the inventory.
• Returns Handling: Facilitates the management of serial numbers in cases of purchase returns or sales returns, allowing for the identification and reconciliation of returned items with inventory records.
• Traceability: Enables businesses to trace the history of individual items by their serial numbers, providing insight into their procurement, sales, and returns activities.
• Compliance: Helps businesses comply with regulatory requirements by maintaining accurate records of item movements and serial number associations.
• Reporting and Analytics: Provides reports and analytics related to serial number tracking, allowing businesses to analyze sales trends, inventory turnover, and identify discrepancies or issues with serial numbers.

Let's explore the serial number tracking process within Accoxi's workflow

• Enabling Serial Number Tracking:

Step 1: Navigate to the Inventory module, and select the option ‘Items’.

Step 2: Click on +New within the Items search window, then opt for the Product menu to access the product creation screen.

Step 3: Enter the product details such as product name, code, unit, tax, attributes etc..

Step 4: Select the check box of ‘Enable Serial Number Tracking’.

Step 5: After entering all details, click on save button to create an item with the feature of serial number tracking.

• Assigning Serial Number in Purchase Transaction:

Step 1: Begin by accessing the Purchase Module and selecting the Purchase Invoice option, which will lead you to the purchase invoice search page.

Step 2: Click on the +New Purchase Invoice button to initiate the creation process, opening the creation page.

Step 3: Enter the supplier details and invoice number in the header section.

Step 4: In the product grid, select the item with serial number tracking enabled, and input the quantity, purchase rate, and applicable discounts.

Step 5: To allocate serial numbers to the item, click on the ‘Allocate Serial Number icon’ located within the item row, which will prompt the Allocate Serial Number popup screen to appear.

Step 6: Enter the relevant serial number for the item into the designated field.

Step 7: Save the serial number entry by clicking on the save button.

Step 8: Once all entries in the purchase transaction are verified, click on the Save button to finalize and create the purchase transaction.

Details in Allocate Serial Number popup screen

The serial number for each item is assigned within this screen. The window dynamically adjusts the number of rows based on the quantity of the item entered in the purchase creation screen. For example, if the purchased quantity for the item is 3, the serial number allocation screen will display 3 rows, allowing the user to enter the serial number for each quantity. This ensures that the quantity of the product matches the number of rows in the serial number popup screen, facilitating accurate serial number allocation for each quantity purchased.

• Serial Number on Purchase Return:

Step 1: Navigate to the Purchase module and opt for Debit Note option and click on +New Debit Note from the debit note search screen to open the creation form.

Step 2: Select supplier name, invoice number, reason and load all invoice items into the product grid.

Step 3: Enter the qty of the item to be returned.

Step 4: Click on Allocate Serial Number icon, opens the popup window of serial number.

Step 5: Remove any serial number rows that are not being returned by using the delete icon. Retain only the serial number for the item that are being returned.

(To restore deleted serial number rows, click on 'Load All Serial No'.)

Step 6: After confirming the serial numbers to be returned, click on the save button in the serial number popup screen.

Step 7: After verification, click on save button to initiate the purchase return process.

Note: - Once a purchase return is completed, the selected serial numbers in the return process will be removed from the system's serial number log. Consequently, these serial numbers will no longer be available for making any adjustments. However, if the debit note is cancelled, the removed serial numbers will be restored to the serial number log, providing the option to make adjustments as needed.

• Tracking Serial Number in Sales Process:

Step 1: Navigating to the Sales module and select sales invoice option.

Step 2: Select +New Sales Invoice, which opens the creation screen.

Step 3: Select the customer details in the header section and select the item to be sold.

Step 4: For items with serial number tracking enabled, a dropdown field will appear for selecting the serial number. Select the serial number to be sold from the available dropdown.  

• It is mandatory to select a serial number for such items.
• Editing the quantity for items with serial number tracking enabled is not permitted.
• If more than 1 quantity is required to be sold, each quantity needs to be entered as a separate row.

Step 5: After entering all the details such as serial number, sales rate, applicable discounts etc.., click on save button to proceed with the sales transaction.

Note: -  Upon saving the sales process, the status for the sold serial number is updated to "Sold".

• Serial Number and Sales Return:

Step 1: Begin by accessing the sales module and selecting the Credit Note option, which will open the credit note search screen.

Step 2:  Click on +New Credit Note to create a new credit note. This action will open the creation form where you can input customer details, invoice number, and reason for return and can load all invoice items into the item grid.

Step 3: Choose the serial number of the item being returned by the customer.

Step 4: After verifying the details, click on save button to save the credit note transaction.

Note: - When making a sales return, the status of the serial number changes from "sold" to "unsold." This means that the serial number will become available for further adjustments, such as purchase returns, or it can be sold again.

                In summary, the serial number tracking feature in Accoxi offers the functionality to monitor individual items from purchase to sale, including purchase returns and sales returns. Accoxi's Product Serial Number report consolidates essential details such as purchase reference number, purchase date, sales invoice number, sales date, and the status of each serial number generated during the purchase of a product. This streamlined workflow ensures efficient tracking of serial numbers for each quantity of items, enhancing inventory management and facilitating smooth operations.

Importance of Serial Number Tracking

Serial number tracking holds significant importance for businesses across various industries for several reasons:

1. Product Authenticity: It ensures the authenticity of products by providing a unique identifier for each item, helping to distinguish genuine items from counterfeit ones.

2. Inventory Management: Serial number tracking allows for accurate inventory management by providing visibility into the movement of individual items. This helps businesses maintain optimal stock levels, reduce excess inventory, and avoid stockouts.

3. Product Traceability: It enables businesses to trace the entire lifecycle of a product, from manufacturing to sale and beyond. This traceability is crucial for quality control, warranty management, and regulatory compliance.

4. Customer Service: Serial number tracking facilitates better customer service by allowing businesses to quickly identify and address issues related to specific products. It enables efficient handling of product recalls, warranty claims, and repairs.

5. Fraud Prevention: By tracking serial numbers, businesses can detect and prevent fraud, such as theft, unauthorized resale, or warranty fraud.

6. Compliance: In regulated industries, serial number tracking helps businesses comply with legal requirements, such as product labelling, safety standards, and record-keeping obligations.

7. Supply Chain Visibility: It provides visibility into the supply chain by tracking the movement of products from suppliers to customers. This helps businesses optimize their supply chain processes and identify areas for improvement.

Overall, serial number tracking is a valuable tool that enables businesses to improve operational efficiency, enhance customer satisfaction, and ensure product quality and integrity throughout the supply chain.