In order to properly receive items into Bypass inventory there will need to a supplier to get the inventory from.
To create a supplier navigate to Configuration > Inventory Configuration > Suppliers.
Here you can edit existing supplier, create new one, and import suppliers. On the right side you will see the New Supplier window. Fill out the information in the orange box shown above to create a supplier.
Be sure to include a Name for your supplier as this is how it will appear in the Purchasing and Receiving section and any other information you think is necessary. Once finished click the Create Supplier button at the bottom.
You can also import suppliers. Click the Import Suppliers button to begin.
On the import screen you will have an option to download a template that you can fill out with your suppliers information.
That template looks like this.
Fill out the Name, Address, and so on for all fields shown above. Once finished save the file and name it something you can find later.
Once you have you spreadsheet filled out you can click the Choose File button and open it.
After you find the file click the Import button and all suppliers will be listed in the suppliers section.