Learning objective:

An important part of selling Retail Products in MINDBODY is maintaining accurate inventory. This article illustrates the process for updating your products' Inventory, both for the initial (First Run) as well as ongoing future inventory updates



First run instructions

  1. Select the Reports tab and choose Inventory from the tabs on the left.
  2. Click Inventory on Hand to open the report.
    • Note: You can always use the search bar at the top right to search for Inventory on Hand by name, and if it's a report you use often, then consider making it one of your favorites.
  3. Select the location you'd like to manage the inventory levels for.
    • Note: Selecting All Locations displays all the products from each of your locations but you will not allow you to update the inventory levels. Inventory levels can only be managed by selecting the specific location in the filter list.
  4. Apply any necessary filters. These additional filter checkboxes determine what type of inventory is displayed when you generate this report:
    • Include Unused Products: Make sure this box is checked. If you do not check this box, it will not show products that have not yet been sold. This is an important box to check if you are using the report to log inventory for the first time.
    • Only Show Products Needing Reorder: Checking this filter will only display products that need to be reordered, based on the it's reorder level.
    • Include Discontinued Products: You can see discontinued products' details in this report if you check this box.
    • Include Oversold Products: This filter will display products that have been oversold to clients.
    • Use Paging: If you have a large list of products, it will break the report into different pages.
    • Only Show Products with In Stock or Oversold Products: Check this box to filter out all products with "0" as their inventory count.
  5. Once you've selected all of your filters, click Generate.



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Understanding the results

After the results have generated, you can view your inventory levels. The values at the bottom of the report are calculated as follows:

  • Total Items in Stock: Total of all items you have listed that you have available to sell.
  • Total Asset Value: Your total cost of items multiplied by what you have in stock for each item, then added all up.
  • Total Retail Value: Your Retail price multiplied by what you have in stock for each item, then added all up.

The Update Type dropdown menu will allow you to choose how you'd like to update your inventory, given that you selected a specific location when you generated the report. You have one of two options: Change on Hand or Make (+/-) Adjustments.



Change on Hand

This method of adjustment changes the existing number of the product in stock. For example, if you had originally entered 5 medium T-shirts in your site and realized that you had miscounted and actually had 7 T-shirts, you would be able to correct the inventory level of the product using this method.

If you'd like to use this method, choose a Location in the dropdown menu and make changes to the filters as needed, then:

  1. Select Change on Hand Value in the dropdown located at the bottom right of your filters box.
  2. Click on Generate.
  3. Under the Change on Hand column, type in the correct inventory amount for each item you wish to update.
  4. Click the Update Inventory button at the bottom or top right to save your changes.

Note: If the report is generated under "All Locations," the adjusted inventory will not be updated.


Make (+/-) Adjustments

Allows you to add or remove to the existing on-hand number of the product. For example, if you had 10 Reusable Water bottles in stock and received 20 new reusable water bottles, you would put "20" for in the Make (+/-) Adjustment box and click Update Inventory to save your changes. If an item is unaccounted or broken and you want to account for the loss you would enter a "-1" for the lost product. This will update the on-hand value for the product's inventory level.

If you'd like to make this kind of adjustment, choose a Location in the dropdown menu and make changes to the filters as needed, then:

  1. Select Make (+/-) Adjustment in the dropdown located at the bottom right of your filters box.
  2. Click Generate.
  3. Under the Make (+/-) Adjustment column, type in the correct inventory amount for each item to correct your stock.
  4. Click the Update Inventory button at the bottom or top right to save your changes.

Note: If the report is generated under "All Locations," the adjusted inventory will not be updated.

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Filters and terminology

Within this report's results, you'll see the following filters and terms:

Report filters

Filter name Definition
Location Choose the location for which you'd like to run the report, or select All Locations to view all your inventory.
Supplier You may restrict the report's results to a specific supplier by choosing their name from the dropdown menu, or select All Suppliers.
Revenue Category You can run the report for single, multiple, or all product categories by choosing one or more from the multi-select menu.
Date Click the calendar icon and select a date to run the report to view past inventory for that specific date. Only active inventory will appear for the current date. To show inactive products, place a check mark beside "Include Discontinued Products."
Sort By Choose from the dropdown menu to sort the report's results by Product Name, Product Barcode, Retail Price, or Product Cost.
Only Show Products Needing Reorder Each product can have a reorder value. When the inventory level for this product matches or drops below its reorder level, you can check this filter and the Inventory On Hand report will only show products that need to be reordered, based on the reorder level. You will need to enter a reorder level on the Edit a Product screen, in order for this work correctly.
Include Unused Products If you check this box, it will show products that have never been sold. This is an important box to check if you are using the report to log inventory for the first time.
Include Discontinued Products You can see discontinued products' details in this report if you check this box. Note: Even if this box isn't checked, running this report for past dates will include discontinued products in the results.
Include Oversold Products If unchecked, the negative on-hand numbers are treated as zero for total asset value. Meaning, if you aren't keeping up with inventory, and sold more T-shirts than you originally told the system you had, the inventory goes into the negative taking the asset value with it. The total retail value is calculated with a negative number. "Asset" is the real value that you have for all inventory. We do this so that your retail value would include things that are lost, stolen, defective, etc. We currently use a simple calculation based on units and the current Our Cost and Retail Price values. If the units go negative, then they take the value with them.
Use Paging If you have a large list of products, it will break the report into different pages. So, if you need to print just the page you are on, go ahead and check the box. If you need to the whole report printed, make sure to uncheck it. Note: Disabling the feature will hide the Change on Hand column in your report.
Only Show Products with In Stock or Oversold Products Check this box to filter out all products with "0" as their inventory level. This can help to track items overstocked, on back order, or sold incorrectly.
Only Show Professional Products This will not apply to iLKB.
Update Type This dropdown menu will allow you to choose how you'd like to update your inventory. You have one of two options: Change on Hand or Make (+/-) Adjustments.
Export to Excel This will generate a spreadsheet containing the report's data in Microsoft Excel. To learn more, click here.
Print this report This button opens the print dialogue menu in your browser so you can print a hard copy of the report.



Report terminology

Term Definition
Barcode The barcode assigned to the product.
Product Name The name assigned to the product.
Manufacturer ID The manufacturer number given to the product. You can adjust your Retail Settings on the General Setup & Options screen so that the Manufacturer ID prints on sales receipts.
Supplier Suppliers are the providers of the products you use at your business. To learn more about Suppliers, click here.
Color The color assigned to the product.
Size The size assigned to the product.
Location The location where the stock is housed. If your business has multiple locations and sells the same product at each location you will see multiple entries for each product, one for each location.
In stock The current amount of stock you have logged in your MINDBODY software.
Change On Hand Changing this value will update the inventory level of the product's stock.
Make (+/-) Adjustment Allows you to add or remove to the existing on-hand number of the product.
Our Cost The price you pay for the product.
Retail Price The price you sell the product for.



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