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Home>Manage Inventory with Square for Retail

Square for Retail: Inventory Plus

The Square for Retail POS system includes robust inventory management tools – create purchase orders and manage your stock, straight from your online Square Dashboard.

If you’re new to Square for Retail, take a look at our comprehensive Getting Started Guide. The guide includes helpful tips for merchants who are new to the Square Point of Sale for Retail (but have experience using the Square Point of Sale app), as well as easy-to-follow onboarding steps for anyone brand new to Square.

Note: Advanced inventory management is not available with Square for Retail on Mobile at this time. You can still, however, receive stock in-app.

Inventory at a Glance

When you log in to the Items tab on your online Square Dashboard, you’ll see the list of your inventory items. If you have multiple locations, the stock levels for each item variation will reflect the total amount of items across all locations.

Note: Before you begin managing your inventory, review creating items, managing modifiers, and importing your item library.

Actions You Can Take From Here:

  • Click on any inventory item to see its variants, unit type, unit costs, SKUs, price and current stock level.

  • Click Actions > Transfer Inventory to move items individually or in bulk between locations.

  • Navigate around your inventory management tools: click Inventory Management to view your vendors, create purchase orders or view your stock action history.

  • Manage Modifiers, Categories, Discounts, Taxes, Gift Cards and Dining Options as well as Comp and Void Settings.

Get Started Tracking Your Inventory

To track inventory for a new item or existing item:

  1. Navigate to the Items tab of your online Square Dashboard.

  2. Click the name of the item to track > under Price and Inventory, click Stock.

  3. On the variation details page, each location will appear below. Toggle on each applicable location by enabling Tracking.

  4. Select the stock action, and enter the Current Stock amount.

  5. Enable Alerts and set a Low Stock Alert > Save.

Note: If you use decimal quantities, you can only set stock alert levels to whole amounts.

To update inventory levels for an existing item:

  1. Log in to the Inventory tab of your online Square Dashboard.

  2. Search for the item > click the variant to adjust.

  3. From the variation details page, update your stock by clicking Stock Action.

  4. Enable Alerts and set a Low Stock Alert > Done.

Note: Stock Received, Inventory Recount and Return will add to the adjusted stock amount – Damage, Theft and Loss will remove stock.

To adjust stock levels from the Retail app:

  1. Enter the item name in the search bar.

  2. When the item appears in the drop-down, tap More Info.

  3. Locate the In Store section > tap Adjust Stock.

  4. Enter the new stock number, select a reason and tap Save.

Retail App

Note: There is a 25,000 item limit.

Inventory Counting

With Square for Retail Plus, you can easily perform cycle counts from your iPad or iPhone manually or using a compatible barcode scanner or the built-in camera on your iPhone or iPad.

Manual

  1. From the navigation bar in your Square for Retail app, tap Inventory. Note: If you’re using Square for Retail on an iPhone, tap the list icon to access Inventory, then tap Stock Overview.

  2. Tap Adjust Stock > Count.

  3. Tap the search bar at the top of the screen, and select the appropriate variation > tap Add to List.

  4. Tap the item variation to input a quantity using the number pad > tap Done.

  5. Repeat this process across all applicable variations.

  6. Tap Continue > Confirm.

Scanner

  1. From the navigation bar in your Square for Retail app, tap Inventory. Note: If you’re using Square for Retail on an iPhone, tap the list icon to access Inventory, then tap Stock Overview.

  2. Tap Adjust Stock > Count.

  3. Using a compatible barcode scanner or the built-in camera on your iPad or iPhone, scan the item. Continue to scan, or tap the screen while the built-in camera is open, to increase the quantity by one each time.

  4. Repeat this process across all applicable variations.

  5. Tap Continue > Confirm.

You can save or cancel an inventory count at any time by tapping the X icon next to Stock count in the corner of your screen. You’ll see a pop-up that says Save Progress and can either save and close or close without saving. Note: Progress will only save on the device used to count inventory, meaning you can’t access a saved count from another device, even if it’s logged in to the same Square account.

Transfer Stock Between Locations

If you need to transfer stock from one location to another, you can transfer individual items or move your inventory in bulk – quickly and easily.

To get started:

  1. Navigate to the Items tab of your online Square Dashboard.

  2. Click Actions > Transfer Stock. From here you can begin your stock transfer.

  3. Select both the source and destination locations.

  4. Choose the items to transfer and enter the transfer quantity. Take note of the current source location stock levels to ensure you have enough stock to support the transfer.

  5. Click Complete Transfer.

Stock transfer with Retail

Once you complete the transfer, you can view the order information at any time – including location details, product name, date and time – all from your History log. Each transfer is assigned a unique transfer number to help identify past transfers.

To filter your history to only view item transfers, click All Adjustment Types > deselect all filters except Transferred.

Learn more about reporting with Square for Retail.

Advanced Inventory Reporting

With Square for Retail, you have access to three new, powerful reports: Cost of Goods Sold, Projected Profit and Inventory by Category. Log in to your online Square Dashboard and navigate to Inventory and select the report you wish to view to get started.

Cost of Goods Sold

The Cost of Goods Sold report helps you keep an eye on your profit margin by keeping your topline metrics – cost of goods, total revenue, profit and profit margin – front and centre. Drill down deeper into your reporting by setting your desired filters and clicking Export to download a CSV.

The COGS column will account for additional costs associated with an order. For example, when you receive a purchase order, you can choose to include delivery and handling by selecting Add Optional Fee. Including additional costs when receiving an order will increase visibility into your profit margin.

Note: The Cost of Goods Sold report is calculated based on FIFO (first in, first out) sales of items received with an assigned cost. As a reminder, if you have questions about using Square for Retail reporting for tax or accounting purposes, please get in touch with a tax professional.

Vendor sales

The Vendor Sales report allows you to view which items are sold in a given time frame, sorted by vendor. By selecting a date range and filtering by vendor, you will have an accurate look at how each of your vendors are performing, as well as additional insights for each item sold.

With easy-to-view graphs included in the Vendor Sales report, surveying your top vendors by net sales and units sold will be a breeze – meaning more time back for you to focus on other aspects of your business.

To get started:

  1. Navigate to Reports > Inventory Reports > Vendor Sales in your online Square Dashboard.

  2. Use the date selector in the top-left corner to choose the date range you’d like to view, or enter custom dates.

  3. If you have more than one location, select which ones you’d like to see.

Projected Profit

The Projected Profit report shows you the potential profit of your business inventory. Slice your data to see the performance of an item, view each location’s profit potential and see how each inventory category is contributing to the strength of your business. The Projected Profit report is only updated once per day, and will not reflect changes in real time.

Inventory by Category

The Inventory by Category report compares the data from the previous two reports to show the cumulative value of your inventory by category – it includes your total inventory value, potential profit and profit margin by item category.

Note on variably priced items: Variably priced items are included in your Inventory by Category and Projected Profit reports, but we do not provide projected margin since these reports reflect potential future sales. Once you sell a variably priced item at a fixed cost, the COGS report will reflect your profit margin.

History

When you manually adjust your stock, accept a purchase order, or make a sale, your History log will reflect each adjustment. Your History log is intended to give you a detailed account of your current inventory levels by listing out each stock adjustment.

Note: If your COGS, Projected Profit or Inventory by Category report seem low, take a look at your History log. You may have received stock or made an adjustment without an associated unit cost. You can update your unit cost for a historical adjustment from your History log to get back on track.

Read more about Square for Retail advanced reporting.