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Inventory & Asset Management

The Outbound Logistics module of Aqxolt ERP ensures that all kinds of orders are dispatched accurately to the provided shipping address. The outbound logistics allows items to be placed in the specific packages for shipment. The system allows the user to scan an order reference number for items required for shipment. Stock dispatching is applied mainly to modules like sales orders, purchase returns, work orders, and transfer orders.

  • Navigate to Order Management app > Outbound Logistics tab
  • The List tab shows the logistics orders that are ready to be Picked and Packed.

  • Select the logistic order to complete the stock dispatching process
  • Click the “Pick” button to pick the products from the available stock address.

  • Select the outbound logistic line item and click the “Pick” button at the bottom right-hand corner of the page.
  • If all the Qty of the line items are picked, the screen moves to the Pack page
  • If all Qty is not picked the page remains in the same(Pick) screen until all the Qty is Picked
  • On the Pack tab, select the chosen item and select the package type and enter the deposit tag number to identify the package.

  • Select the quantity to pack, select the shipping type and click the “Save” button. Make sure Picked and Packed Qty are same.
  • The Package will be listed as shown

  • Multiple packages can also be created by selecting only the required line items in the Pack screen.
  • To ship the package, select the checkbox and click the “Ship” button.
  • Depending on the Shipment type selected UPS/FedEx or Internal shipment, the screen navigates to Shipment page.

Receiving Items from a Vendor or receiving stocks from a Transfer Order

  • Navigate to the Order Management app > Inbound Logistics tab.
  • All the Ready to Receive Logistic orders will be listed.

  • Select the Logistic Order to put the received products into the warehouse.
  • A shipment typically arrives with a packing slip; items you receive must be referenced against a logistic order.
  • So, to proceed you must determine the logistic order to which the received items belong and select the checkbox next to it and click the “Receive” button.

  • Screen navigates to the Receive page with Received and Added Qty 0. Receive column defaults the actual ordered Qty which is editable.
  • Once clicked on Save, Received field will be updated and Receive field becomes 0
  • Now Select the logistic line items and click on the Putaway button on top if multiple line items selected.
  • Screen navigates to the Putaway page with Ordered Qty and Received Qty populated
  • Select the checkbox of the line items to Putaway.
  • In the Additional Information section of the Product detail page Serialise and Lot Tracked is specified.
  • Enter the received item quantity. To identify each stock inward item, a batch/lot or Serial code is entered. Users can create multiple stocks inwards for each purchase line item until the requested quantity is fulfilled.
  • Enter the warehouse in which the items are stored. In addition, a user can assign the location and storage bin of the received to ensure a well-organized warehouse.
  • Click “Save” to complete the stock receiving process of the purchase orders.
  • The color of the line items turns green when complete Qty is Added

  • This indicates that the logistic received from the vendor has been successfully added to the inventory.

Stock Takes is the physical verification of the quantities and condition of items held in an inventory or warehouse. This may be done to provide an audit of existing stock. It is also the source of stock discrepancy information.

Steps to create a Stock Take entry

  • Navigate to the Order Management app >Stock Takes Tab.
  • Once in the Stock takes tab switch to 'All' view from Recently viewed, all created stock takes will be listed.

  • Click the “Create Stock Take” button on the right-hand top corner to create a new stock take record.
  • Enter the Site whose Audit of the physical inventory has to be performed.
  • Enter the Start and End dates of the stock counting.
  • Count the physical inventory and enter the Stock in Hand.
  • Click the ‘Save’ button and the system will navigate to the stock take record.
  • To manage the stock adjustments, click the stock take record.
  • Click the “Manage Stock Take” button to create stock adjustment records.

  • Click the stock variance and click the ‘Save’ button to create the stock inward adjustment record.
  • If the variance is in positive number Stock Inward Line Item is created and if the variance is in negative Stock Outward Line Item is created.

  • Click the “Save” button to create the stock adjustment.
  • Navigate to the App Launcher >Stock Transfer Tab.
  • Once in the Stock Transfer section, select the Source Site and the Cart associated to the source site.
  • Click the “New” button item to pick the items and transfer.

  • Select the Location from where the item is picked.
  • Select the Serial No/ Batch Code of the product and the product will appear automatically.

  • Enter the Quantity to be picked.
  • Click the Putaway tab and select the Destination Site.

  • Select the Location of the site to putaway the items.
  • Select the items in the action section and click the “Putaway” button to complete the stock transfer process.

Stock Run Rate gives the overview of the inventory, it shows how much stock you have at any given time. The stock run rate tracks the finished goods as well as the raw materials. It tracks stocks at all levels of the production process, from net inventory before supply/produce, to supply/ produce and projected inventory to demand forecast/ actual demand. The complete insight of stock run rate is generated with the help of master production schedule created for every finished and the raw material product. The MPS essentially provides the planning function, extracting actual supply and demand data, and forecasts to deliver timely and accurate production plans. The forecast gives manufacturers the ability to anticipate product demand. The MPS also includes quantities or lot size of the items to be produced, production duration and quantities available to promise. You can create the master production schedule by following the steps below.

  • On the Product record, navigate to the related list and find Master Production Schedule.
  • Once in the Master Production Schedule related list, you can track the master production schedules already filled in.
  • To create a new Master Production Schedule, click the “New” button. You will be presented with a screen below.
  • Enter the name of the Master Production Schedule and select the Product for which the MPS is created.
  • Select the Version of the product and select the schedule period whether the production is scheduled weekly, monthly and yearly.
  • Enter the Start and End dates of the master production schedule.
  • Enter the Starting and Minimum Inventory Levels.
  • Select the Distribution Channel and enter the Lot Size of the production and enter the Default Demand Forecast.
  • Save the record to create a Master Production Schedule for a product.
  • Once the Master Production Schedule is created, you need to create an MPS line item. Based on the start and end dates of the master production schedule MPS line items are created.
  • Navigate to the related list of the master production schedule and find MPS Line Items.
  • Click the “Generate MPS” button located on the top right corner of the master production schedule record.
  • This creates the MPS Line Item records based on the start and end dates in the master production schedule.
  • To view the stock run rate report, navigate to the App menu > Stock Run Rate
  • The From Date and To Date defaults to the current years start date and current year’s end date.
  • The listed products can also be filtered based on the Distribution Channel.

  • Upon clicking Individual product, the system brings its MPS (Master Production Schedule) and ATP (Available to Promise) in a Monthly view.

  • The demand forecast describes the historical data or the user-specified default demand forecast data in the MPS.
  • The stock run rate report shows the Actual Demand and Net inventory calculated before the production of an item. The Net Inventory is evaluated every time the demand forecast is changed. The forecasting is based on the inventory levels specified on the MPS record.
  • You can also create purchase orders and manufacturing orders by clicking the Create Purchase Orders and Create Manufacturing Orders hover buttons available at the To supply/ Produce information.
  • You can view the Projected Inventory and Available to Promise quantities for each item. The calculations are time-based usually evaluated based on the scheduled period.

Transfer Order

The transfer order contains all the information required to execute the physical transfer of materials into the warehouse and out of the warehouse.

The ERP Mark 7 application enables users to create transfer orders for moving assets, inventory and employees between company stockrooms/sites, warehouses, and departments, respectively.

Transfer Order line items allow for the transfer of multiple Items on one transfer order. Transfer orders can be created for:

Inventory Stocks

Steps to create a Transfer Order for Stocks -

Create transfer orders through a Transfer Order Tab

  • Create a transfer order by navigating to the Order Management app > Transfer Orders tab> New.
  • Once on the Transfer Orders section, you can track the transfer orders already created and create new ones. The Transfer Order should be created in Requested Status.

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  • To create a new transfer order, click on the “New” button and choose the transfer order record type
    • Inventory
  • Enter the From Channel, Site, Distribution Channel and Address. "From" fields are considered from where the Inventory is requested.
  • Enter the To Channel, Site, Distribution Channel and Address.

"To" fields are considered to where the Inventory is sent.

  • Select the Active checkbox to make the record active.
  • Enter the Requested and Expected Date.
  • Save the record.

Fields to note:

Field Description
Transfer Order Name Describes the name of the transfer order.
From Channel The Channel from where the assets/stocks will be shipped.
From Distribution Channel The Distribution Channel from where the assets/stocks will be shipped.
From Site The site from where the assets/stocks will be shipped.
From Address Location from where the assets/stock will be shipped.
To Channel The Channel to where the assets/stocks will be shipped.
To Distribution Channel The Distribution Channel to where the assets/stocks will be shipped.
To Site The site to where the assets/stocks will be shipped.
To Address Address to where the assets/stock will be shipped.
Requested date Describes the date on which the transfer order was requested.
Status Current status of the transfer order, such as Draft or Requested.
Delivery by date It gives the Date by which the shipment will be delivered to To Site.
Ship Date It gives the Date of Order shipped from the From site.
Expected Date Describes the date by which the items are expected to be received.
Ready To Pick Pack Make this checkbox true when Outbound Logistic is to be created.
Ready To Receive Make this checkbox true when Inbound Logistic is to be created.

Creating Transfer Orders Line Items

Transfer order line items specify the exact Items included in a transfer order. A transfer order may contain more than one transfer order line item. Every line item contains an Asset/Product to transfer and the quantity to transfer.

The steps below explain how to create transfer order line items.

  • After creating a transfer order, click on the related tab and find the transfer order line items section. Click the “New” button to create a new transfer order line item.
  • Every transfer order line item is identified by its name; enter the name of the transfer order line item.
  • Enter an Item to transfer.
  • Enter the quantity requested.
  • Click the “Save” button to create a transfer order line item.
Field Description
TO Line Item Name Name used to identify the transfer order line item.
Transfer Order Read-only field that describes the transfer order to which the transfer order line item belongs.
Quantity requested Number of products requested by the transfer order line to be moved. For example, 12 chairs are requested to be transferred.
Product The Product of Interest to be Transfered.

Transfer Orders Through an Outbound Logistics Tab

This scenario describes the Pick Pack Ship process by which transfer orders can be managed. The transfer order Items can be shipped/dispatched using the Pick Pack Ship process.

To make Transfer Order logistics available in Outbound Logistics tab the Transfer Order should be marked as Ready To Pick Pack.

  • Click on the Outbound Logistics tab and find the Logistic Orders that are ready to be Picked, Packed and Shipped as shown below.

  • From the list of available logistic orders, select the transfer order of interest. Click on “Pick” at the top of the page or below the Action button.
  • Select the logistic line items and click the “Pick” button.

  • Click the “Pack” tab and enter the package details, select the package list items and click the “Save” button.

  • Follow the Pick Pack and Ship process to transfer the stocks from one site to another.

Transfer Orders Through an Inbound Logistics Tab

This scenario describes the putaway process by which transfer orders can be managed. The transfer order logistics can be assigned to particular sites using the putaway option.

Transfer Orders logistics are available in Inbound Logistics when the Transfer Order is marked as Ready To Receive.

  • Click on the Inbound Logistics tab and find the Logistic Orders that are ready to be received as shown below.

  • From the list of available transfer orders, select the transfer orders of interest and click on “Receive” at the top of the page or the button that is next to the logistic order. Click the “Save” button to complete the receiving process.

  • Select the received transfer order line items and click the “Putaway” button, enter the location and storage bin to be assigned to the inventory product and click the “Save” button.

  • Following the putaway process, creating stock inward line items and filling in the other details, such as name, quantity and warehouse, as well as saving the record, will transfer the stocks to the assigned warehouse.

The purchase order is an electronic document that is sent by the customer to the seller to request for supply of certain goods and services. It is the first official communication from the buyer, containing the details of the specific items required, their quantity and the prices agreed upon along with other details that may be required for the goods and services.
The purchase line orders contain the details of each of the items types ordered as well as the quantity of each item. Each type of commodity has a unique sales line number. Numerous purchase line orders can be contained in a single purchase order.

The purchase orders are used by the seller to prepare the items for shipment. The purchase orders are also important in providing the seller with information about the buyer to track sales records, authorise shipments and plan properly the shipment methods in line with the customer’s needs. This helps a business to grow and reach more customers by simplifying how you make sales. It makes it easier to make purchase orders and also improves the efficiency of the seller’s ability to account for stock and manage sales.

Creating a Purchase Order

In the purchase orders, one is able to view and edit the existing purchase orders, create new ones and also import a new document from the existing documentation. When creating a new purchase order, the following steps are followed:

A Purchase Order can be created in following methods:

• From Purchase Order Tab (Record level)
• From the Sales Order Tab (Converting sales order into purchase order)

Create Purchase orders from a Purchase Order Tab

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Once you click the purchase orders tab, there are a variety of activities and information that you can access. On the page, you have the access to all purchase orders raised. The purchase order details can be viewed and edited accordingly.

  • Click on the “New” button located on the top right corner of the purchase orders page.
  • Once you click the button, you are required to choose the type of record that you want to fill, between the purchase order and the return to vendor document.
  • When creating a new order, you should choose the standard purchase order.

The standard purchase order requires:

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  • The details of the requesting organisation, including the employee placing the order and the approver.
  • The details of the items ordered, including the quantity, barcode numbers, the purchase order lines of each item and description of the order.
  • The form also includes a section for cost details, including the shipment costs and tax payable.
  • The order also requires the project the items are used in, the date for order approval and the contract with the vendor.
  • There are also details that cover the delivery information. This includes the address, expected delivery dates and invoice address.

The return to vendor option allows you, to fill in information about the items being returned and the reasons for the return.
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  • The address information of the vendor and the buying organisation.
  • The master purchase order from which the Return to Vendor document is filled.
  • The quantity of the items being returned and the credit information.
  • It also covers the budget accounts related to the items.
  • The cost details of the RTV, including the tax details.
  • The contract information, project and revision number of the document.
  • The details of the expected delivery date, the invoice address as well as the date for cancellation.

Purchase Line Orders

The purchase order lines are located next to the purchase details of an existing purchase order. The purchase line orders are filled in the related tab next to the details of the purchase orders.

PO2

New purchase line items documentation can be filled by clicking the “new” tab on the right end of the page. Additionally, the existing purchase order line items can be easily edited, to account for the right quantity and details of the items to have.

In the same related section, there are links to fill other documents related to the purchase order, including the work orders, invoices and the contract, stock inward and outward line items, supplier payments among other details.

Fields to note:

Information Section
Field Description
PO Name It describes the name of the purchase order
Employee Requester It defines the employee name who requests the work order
Final Approver It describes the name of the employee who approves the Purchase order
Sales Order It is the sales order related to the purchase order
Budget Account It describes the name of the budget account
Master Purchase Order It describes a purchase order which associates other purchase orders with it
Total Credit Total credit of the PO
Count PO Line Items Number of PO line items in the purchase order
Total Quantity Total quantity of the products in the purchase order
Reconciled Quantity Reconciled quantity with the products received in the inventory
Barcode It describes the barcode specific to the work order
Vendor It describes the name of the supplier
Status It defines the purchase order status - Booked, Reconciled, Approved Etc.
Payment Terms Payment of Supplier Invoices to be made after receipt of invoice.
Order Date It specifies the order date of the purchase order
Order Amount It gives the total amount of the purchase order without tax
Vendor Contact Contact Name of the Vendor/supplier
Tax Amount The Tax amount for the PO
Shipping Amount Shipping amount for the PO
Total Amount Total amount of the purchase order with tax amount
Organisation It defines the name of the organisation/Account
Organisation Business Unit It defines the Business Unit name of the Account/Organisation
Purchase Order Details Section
Cost Center  Account to which the purchase order is assigned
Approved Date It describes the approved date of the work order
Programme Programme the purchase order belongs to if any
Revision Date If there is any revised date for the purchase order
Project It describes the name of the project for which the work order is created
Vendor Contract Vendor contract
Revision Number  If the purchase order is revised a Revision number is generated
Publication Date It describes the date of the purchase order published
Cancel Date Cancellation date of the PO if any
Delivery Details
Delivery Address Delivery address for the purchase order goods
Vendor Address Vendor/supplier address of the purchase order
Invoice Address It describes the address to which the purchase order is invoiced
Actual Delivery Date It gives the actual date when the purchase order goods were delivered
Expected Delivery Date It tells the expected delivery date of the purchase order products
Price List It describes the price of the products in the price book entry

Convert a sales order into a purchase order

The purchase orders are used by the seller to prepare the items for shipment. The purchase orders are also important in providing the seller with information about the buyer to track sales records, authorise shipments and plan properly the shipment methods in line with the customer’s needs. This helps a business to grow and reach more customers by simplifying how you make sales. It makes it easier to make purchase orders and also improves the efficiency of the seller’s ability to account for stock and manage sales.

  • Click on the Sales Order tab in the tab menu
  • Select the sales order that you would like to convert into a purchase order and click on the down arrow in the top right-hand corner of the page and select ‘Create Purchase Orders’ as shown below.                                                       po_ht5
  • Fill in the purchase order detail section and the purchase order line items section, new purchase order line items can also be added along with the existing line items using ‘Add ’ button.

  • Click on ‘Save’ button which creates a new purchase order with a unique purchase order number.

Create a Warehouse Site

  • Navigate to the Order Management app > Sites tab.
  • Once in the Sites section, you can track the warehouse sites already filled in and create a new warehouse.

  • Click the “New” button to create a new warehouse.
  • Enter the name of the warehouse and select the Active checkbox to activate it.
  • Enter the Barcode of the warehouse and select the Primary Contact associated with the warehouse.
  • Select the type of warehouse, whether a site is of the type Warehouse, Plant or any other type.
  • Enter the organisation and business unit of the site and click the “Save” button to create the warehouse site record.

Location

  • Navigate to the tab related to the Warehouse site record. Find the list related to Locations.
  • Once in the Locations section, you can track the locations already filled in and create a new Location record.

  • Click the “New” button to create a Location record
  • Enter the Location Name and select the type of location, whether it is a Floor, Bin, Shelf or Cardboard.
  • Enter the Floor Number, Shelf Number, Aisle Number, Bay Number or Space Number.
  • Enter the Bin capacity, organisation and business unit details. Also, select whether the location holds scrap.
  • Select the Active checkbox and click the “Save” button to create the location record.

Storage Containers

  • Navigate to the tab related to the Warehouse site record. Find the list related to Storage Containers.
  • Once in the Storage Containers section, you can track the storage containers already filled in and create a new Storage Container record.
  • Click the “New” button to create a Storage Container record.
  • Enter the Storage Container Name and the Barcode of the container.
  • Select the Type of container, whether it is a Bin, Bottle, Bucket or Pallet. Enter the description of the container type in the Description field.
  • Select the status of the container and select the Active checkbox,
  • Click the “Save” button to create a Storage Container record.

 

The concept of KIT is extensively used in manufacturing industries. The concept of BOM and KIT fall under different processes. KIT is a concept involving the sales process whereas BOM falls under the inventory process. KIT is an assembly of many finished items grouped together to be sold; its pricing is calculated for each finished item. KIT itself cannot be considered one stock; each finished item is stocked separately.

For example, Universal Furnitures manufactures various types of furniture. When the company sells its furniture, it sells a dining table, chairs and cushions as a KIT. Thus, the finished items are sold as a group rather than individually

Create Bill of Material (Components) Kits:

  • Navigate to the Products tab.
  • When creating a new product, make sure the "Is Kit" checkbox in the product record is checked.

BOM

  • Once in the Products tab, you can view the Products information already filled in and create a new Product record.
  • On the related tab, scroll through the related list and find Bill of Materials (Component).BOM4
  • Click the “New” button to add a new BOM.
  • From the Select Record Type pop-up, select Kit BOM and click the “Next” button.
  • Fill in the details, such as the Bill of Material Name, Type, Component Type and BOM Notes.
  • BOM (Product) auto populates.
  • Select the BOM (Component) and the Quantity required.
  • Check the “Active” checkbox and click on the “Save” button to create the BOM kit record.

Adding Product BOM Versions:

  • In the Related list tab of the Product, navigate to the BOM Version.
  • Click the "New" button. Choose the "Manufacturing" record type and Next.

  • Fill in the Version Code, Start Date and To Date.
  • The product is auto-filled. Fill in other details, such as Category, Process and Quantity.
  • The Type should be Assembly and the Status should be Certified.
  • Select the Active checkbox and Save.

Shipping a Kit 

When a Sales Order is created with a Kit as a product and when the sales order is ready for shipment, the sales order will be available for stock dispatching.

  • Click on the “Stock Dispatching” tab and select the sales order that has a Kit as a Product.
  • Click Pick to see all the available sales order line items.
  • Select the sales order line item having the Kit as a product and click the Explode checkbox on top of the page. The Explode checkbox will split the Kit components into individual line items and the required BOM (Components) will be reduced from the inventory.
  • Click on the “Pack to pack” button, the Kit with all the components attached to it and click the “Save” button to create the package.
  • Follow the shipment process to ship the Kit (BOM) to its specified shipping address.

Products and Fixed Assets can be serialized and Inventory can be stored for different products with different serial numbers.

Assigning Serial numbers to a product involves the following setup:

  • On the product detail page, make sure the product is active, status is released and serialize checkbox is checked.
  • In the Related section, go to Serial Number > Create New.
  • Add Name, Serial Number and Product.
  • Add Availability date and make sure available checkbox is checked.
  • Create Inventory Stocks and Stock Inward Line Item for the Product.
  • In the stock Inward line Item, choose the Serial Number we created.

Products can be manufactured in a lot, having a particular lot number to the set of production. To make a product available in a lot, we have to make the product Lot Tracked.

  • Check Lot track checkbox on the product detail page.
  • Create a Material Batches/ Lots record in the related list of the product.
  • Click on Create “New.”
  • Add Batch Number, Date of Manufacture and Availability Date.
  • Make sure it is active and the product is selected.

Assets are also known as fixed or capital assets and typically refer to an organisation’s valuable resources and equipment. These items have long-term business use and enable their owner to produce goods or perform services. Assets are tracked as unique items that are not consumed in production.Fixed Asset1

Because the word “asset” has a different meaning in the world of finance and accounting, the phrase “asset tracking” is used to indicate the monitoring of physical asset movement and condition, not the change in the monetary value of an intangible financial asset.

Fixed Asset3

 

Systematically tracking assets is necessary across every industry to maintain accurate accounting records as well as real-time visibility of operations. For tracking purposes, each asset is tagged with a unique barcode identifier (e.g., make, model, serial number, etc.) and associated with a custodian or location.

 

Stock-to-Asset is a unique functionality developed to help companies or teams that must fuse inventory management and asset management efforts. The feature reduces management overhead related to accounting for each process separately and delivers a simplified, operationally efficient tracking solution.Inventory-versus-Asset

Combined Inventory and Fixed Asset Control

Depending on your business process, you may need to track certain items or products as both stock inventory and assets. For example, your products are assembled or received and then stored in your warehouse inventory. Those products will be issued to a customer and installed at the customer’s location, with a foreseeable useful life of over a year. Therefore, inventory levels must be adjusted and the product reclassified as a deployed asset that requires tracking and management.

Stock to Fixed Asset Benefits

This transaction or conversion allows you to search for a serialised inventory item issued to a customer or location and assign it an asset number and model number. The quantity and associated cost are automatically adjusted in the inventory database, and you can begin tracking pertinent asset attributes such as maintenance, warranty and location.

You can easily build assemblies or finished goods from a detailed Bill of Materials. The manufacturing module allows you to specify the raw materials or components needed to manufacture each finished good.inventory assembly1

With operations that involve inventory for work-in-process and manufacturing, this functionality enables you to boost end-to-end traceability, productivity and control. In addition, you can access your product assembly inventory in Aqxolt ERP anytime, anywhere, so your team can better coordinate production machine usage and labour.

Manufacturing Benefits:

  •   Streamline manufacturing process using barcodes
  •   Increases flexibility for multiple product variations
  •   Improves inventory control during manufacturing/process cycle
  •   Saves time and increases manufacturing productivity

Increase Manufacturing Productivity

Create predictability, better coordinate manufacturing machine usage and labour, and track raw materials and components needed to manufacture each specific product accordingly.

Easily Assemble Your Inventory

The Inventory Assembly feature allows you to efficiently track product manufacturing and associated stock quantities and costs.

Print Barcodes page allows to Generate Barcodes for different objects with different Barcode Type and Page Size and Print them.

Products, Fixed Assets, Sites, Accounts, and Contacts can have Barcodes and the system is capable of reading barcodes through a barcode scanner.

  • Navigate to App Menu > Print Barcodes
  • The object defaults to Product and all the available products are listed below with their Barcodes.
  • Select the object you want to generate barcodes.
  • Select the “Barcode Field and Label.”
  • Additional fields can be added to print by moving fields from all fields column to selected fields column.
  • Page size and Barcode Type can be managed.
  • The frame can be added to the Print page by turning on the Frame.
  • After making the required settings, select the Items you want to take, print barcodes and click “Preview PDF button.”