Clinicminds includes a feature that allows clinics to register the purchase price of products and treatments. This addition is designed to enhance inventory management by enabling more accurate calculations of stock value.
How to Use This Feature
Entering Purchase Prices
Navigate to treatments setup under record settings
Or navigate to the products setup page
Input Purchase Price: Enter the purchase price as part of the system's details for each product or treatment.
Utilizing Purchase Price Data
Stock Value Calculation: The system uses the registered purchase prices to calculate the total stock value. This information is crucial for financial reporting and inventory management.
Benefits
Improved Inventory Management: Accurate stock value calculation helps in maintaining optimal inventory levels and financial planning.
Enhanced Financial Oversight: Knowing the actual cost of stocked items allows for better budgeting and expense tracking.
Conclusion
By enabling the registration of purchase prices, Clinicminds helps clinics maintain precise control over their inventory finances, thereby supporting more effective business operations. This feature is straightforward but adds significant value to the administrative capabilities of Clinicminds.
Reports
To analyze the real value of your inventory, go to 'Reports' and navigate to the 'Administration' section. Here, you will find various stock reports that display the purchase price accordingly.
