Peasy Glossary
Definitions for inventory, purchasing, production, sales, and business terms used in Peasy. Each term explains what it means and how it works in the platform.
A
ACH— ACH (Automated Clearing House) is an electronic bank-to-bank payment method. In Peasy, ACH is the primary method for both receiving customer payments and sending vendor payments through the built-in payment system.Alert— An alert (called a "flag" in the Peasy UI) is a notification that something needs your attention. In Peasy, flags appear in the Flags panel in the sidebar and cover reorder alerts, template gap warnings, and other actionable items.Available Quantity— Available quantity is the amount of an item that is free to sell or use, calculated as on-hand quantity minus any stock already committed to open sales orders. In Peasy, this number helps you avoid overselling.
B
Batch— A batch is a single production run of a recipe that produces a defined quantity of finished goods. In Peasy, batches are tracked through work orders and can be assigned lot numbers for traceability.Bill— A bill is a record of money you owe to a vendor for goods received. In Peasy, bills are created automatically when you receive a purchase order and track what you need to pay.Bill Pay— Bill pay is Peasy's feature for sending payments to vendors directly from the platform. Instead of switching to your bank to pay bills, you can pay vendors within Peasy and keep your payment records in one place.BOM (Bill of Materials)— A BOM (bill of materials) is a structured list of all the raw materials, components, and sub-assemblies needed to make a finished product. In Peasy, the BOM is defined within a production template and drives ingredient calculations for work orders.Bundle— A bundle is a sell item that is made up of multiple other items sold together as a single unit. In Peasy, bundles let you create combo packs, gift sets, or variety boxes without manufacturing a new product.Buy Cart— The buy cart is a staging area where you collect items you need to order before converting them into purchase orders. In Peasy, the buy cart streamlines the process of building POs by letting you add items from multiple places and then batch them by vendor.Buy Item— A buy item is a child item that represents a specific way you purchase a product from a vendor. In Peasy, buy items define the vendor, unit, cost, and pack size for purchasing.
C
Catalog— A catalog is a curated list of sell items that you share with customers. In Peasy, catalogs can be published to your storefront or shared directly, letting customers browse and place orders.Category— A category is a label used to group and organize items. In Peasy, categories help you filter, search, and report on items by product type, department, or any grouping that makes sense for your business.Child Item— A child item is a buy item or sell item that belongs to a parent item. In Peasy, child items define the specific units and contexts in which you purchase or sell a product, while the parent item tracks overall inventory.COGS (Cost of Goods Sold)— COGS (cost of goods sold) is the total cost of the inventory you've sold during a period. In Peasy, that cost comes from the purchase, lot, and production data already captured in the app.CSV Import— CSV import is the process of uploading a CSV (comma-separated values) file to bring data into Peasy. Peasy can also read spreadsheet files such as Excel files in some import flows.Custom Field— A custom field is a user-defined data field that you add to items, customers, sales orders, categories, or receiving records. In Peasy, custom fields let you track information that isn't covered by the standard built-in fields.Customer— A customer is a person or business that buys goods from you. In Peasy, customer records store contact information, pricing, and order history, and are linked to every sales order and invoice.
D
Dashboard— The dashboard is Peasy's home page that shows an overview of what needs your attention. In Peasy, the dashboard displays your onboarding progress, replenishment status, flags, tasks, and inbox items.Discount— A discount is a reduction in price applied to a sales order or individual line items. In Peasy, discounts can be applied as a percentage or fixed amount during order creation.
E
Entity— An entity is a business or organization in Peasy. In Peasy, each entity has its own items, vendors, customers, locations, orders, and settings — it's the top-level container for all your business data.ETA— ETA (estimated time of arrival) is the expected delivery date for a purchase order. In Peasy, the ETA helps you plan receiving schedules and communicate delivery expectations to your team.
F
FIFO— FIFO (first in, first out) is an inventory costing method where the oldest stock is assumed to be sold or used first. In Peasy, FIFO is the oldest-cost-first model used for lot-aware costing and inventory valuation.Fulfillment— Fulfillment is the process of picking, packing, and shipping goods to complete a sales order. In Peasy, fulfilling a sales order deducts inventory and optionally generates an invoice.
I
Import— An import is the process of bringing data into Peasy from an external source — typically a CSV file, spreadsheet, or connected platform like Shopify. In Peasy, imports use a staging-and-review flow to ensure data quality before it enters your system.Ingredient— An ingredient is a raw material or component item that is consumed during production to make a finished product. In Peasy, ingredients are listed in production templates and their inventory is deducted when work orders are completed.Inventory Adjustment— An inventory adjustment is a manual change to an item's on-hand quantity that isn't tied to a purchase order, sales order, or production. In Peasy, adjustments handle corrections like shrinkage, spoilage, damage, or data entry fixes.Inventory Count— An inventory count is the process of physically counting your stock and reconciling it with what Peasy shows. In Peasy, inventory counts let you verify on-hand quantities and create adjustments for any discrepancies.Inventory History— Inventory history is the complete log of every quantity change for an item. In Peasy, inventory history shows every receive, fulfillment, adjustment, transfer, and production event with timestamps and details.Inventory Unit— An inventory unit is the base unit of measure used to track an item's stock levels. In Peasy, every parent item has exactly one inventory unit that serves as the common denominator for all buying, selling, and production activities.Invoice— An invoice is a document requesting payment from a customer for goods sold. In Peasy, invoices are standalone entities that track what customers owe you.Invoice Payment— An invoice payment is money received from a customer against an outstanding invoice. In Peasy, invoice payments can be collected online through a magic link or recorded manually when paid outside the platform.
K
L
Lead Time— Lead time is the number of days between placing a purchase order and receiving the goods. In Peasy, lead time helps you plan when to reorder so items arrive before you run out.Location— A location is a physical place where you store inventory. In Peasy, locations are the foundation of multi-site inventory tracking — every stock quantity, lot, and movement is tied to a specific location.Lot— A lot is a specific batch of an item identified by a lot number. In Peasy, lots let you trace a batch from receiving or production through to the sale or work order it went into.Lot Tracking— Lot tracking in Peasy is how you capture batch-level traceability for the items you receive and produce. There's no setting to turn on — every time you receive a purchase order or complete a work order, Peasy creates a lot record for that batch.
M
O
P
Packing Slip— A packing slip is a document included with a shipment that lists the items and quantities being sent. In Peasy, packing slips are generated from sales orders and help your warehouse team pick and pack correctly.Parent Item— A parent item is the top-level record for a product in Peasy. It holds the item's name, category, and inventory unit, and acts as the container for one or more child items (buy items and sell items).Partial Receive— A partial receive occurs when you receive only some of the items on a purchase order. In Peasy, partial receives let you record what actually arrived while keeping the PO open for the remaining items.Payment— A payment is a transfer of money between you and a customer or vendor. In Peasy, payments are tracked for both sides — money received from customers (against invoices) and money sent to vendors (against bills).Payment Status— Payment status indicates where a payment is in its lifecycle. In Peasy, payment statuses help you track whether money has actually moved or if action is needed.Price List— A price list is a set of custom prices for sell items that can be assigned to specific customers. In Peasy, price lists let you offer different pricing tiers — such as wholesale vs. retail — without changing your default prices.Production Run— A production run is the execution of a work order — the actual process of manufacturing a product from its ingredients. In Peasy, a production run starts when a work order moves to "In Progress" and ends when it's completed.Production Template— A production template is a reusable blueprint for manufacturing a product. In Peasy, templates store the recipe (BOM), yield, and instructions that are used every time you create a work order for that product.Purchase Order— A purchase order (PO) is a formal document you send to a vendor to request goods. In Peasy, POs track what you've ordered, from whom, at what price, and whether it's been received.
Q
R
Receiving— Receiving is the process of recording that ordered goods have arrived at your location. In Peasy, receiving updates inventory quantities, establishes item costs, and creates bills for the vendor.Recipe— A recipe (also called a bill of materials or BOM) is the list of ingredients and their quantities needed to produce one batch of a finished product. In Peasy, recipes are stored as production templates and used to generate work orders.Reorder Alert— A reorder alert is a notification that an item's stock has dropped to or below its restock point and needs to be reordered. In Peasy, reorder alerts appear in the Flags panel and can be sent directly to the buy cart.
S
Sales Order— A sales order (SO) is a document that records a customer's request to purchase goods from you. In Peasy, sales orders track what was ordered, the price, and whether it's been fulfilled and invoiced.Sell Item— A sell item is a child item that represents a specific way you sell a product to customers. In Peasy, sell items define the selling unit, price, and how that unit converts back to inventory.Shopify Sync— Shopify sync is Peasy's integration that imports products and orders from your Shopify store. It connects your e-commerce catalog to the same system where you manage inventory, purchasing, and production.Staging— Staging is the review step between importing raw data and creating records in Peasy. In Peasy, all imports — whether from CSV, Shopify, or other sources — pass through staging so you can review, correct, and approve data before it enters your system.Status— A status indicates where a record is in its lifecycle. In Peasy, statuses are used across purchase orders, sales orders, work orders, bills, invoices, and other records to track progress from creation to completion.Storefront— The storefront is Peasy's built-in online ordering portal where your customers can browse catalogs and place orders. It provides a self-service B2B ordering experience without needing a separate e-commerce platform.
