Setting Up New Retail Products to Track in Inventory

Set Up a New Retail Product and Track Inventory in Prospyr

Adding new products to your retail catalog and tracking inventory in Prospyr helps you stay organized, invoice accurately, and ensure you always have what your customers need in stock. Here’s how to set up a new retail product and manage its inventory from start to finish.

Step 1: Go to Settings.

Step 2: Select Catalog.

Step 3: Click the Products tab.

Step 4: Click Create to add a new product.

Step 5: Enter the product’s name, how it will appear and be charged during transactions, and set the proper tax rate.

Step 6: Choose where you’ll sell the product—all locations or only specific ones.

Step 7: Assign the product to a category, like "skincare," for better reporting.

Step 8: Set the price charged to customers.

Step 9: Enter the applicable tax rate.

Step 10: Go to the Inventory section to configure inventory tracking.

Step 11: If you haven’t set up inventory tracking for this item, click Create New Consumable.

Step 12: Name how this item should appear in inventory and select the unit you’re selling.

Step 13: Select your vendor.

Step 14: Set your cost per unit—what you pay for the item.

Step 15: (Optional) Enable tracking by lot number if needed.

Step 16: Set up low-stock alerts to get notified when you need to reorder.

Step 17: (Optional) Enable expiration date tracking if your product is perishable.

Step 18: Click Create and Continue.

Step 19: Enter how much stock you currently have for this product.

Step 20: Confirm the standard cost amount from your first order, then click Next.

Step 21: Assign the new stock quantity to the correct location.

Step 22: Hit Save and Finish.

Step 23: Click Done to complete your inventory addition.

Step 24: Finish by clicking Create Product.

Your new retail product is now ready in Prospyr, fully set up for easy selling and tracking. If you want to check or update your stock, simply click on Inventory for an overview of quantities, and make adjustments through a quick count if needed.

Stay on top of your stock levels and reporting—Prospyr’s product and inventory setup ensures you’re always ready to invoice and serve your customers.