Stock & Inventory
Warehouses and bins, items and reorder levels, weighted average cost, serial numbers, batches and expiry, transfers, stock takes and landed costs.
The Stock module keeps track of what you hold, where you hold it and what it cost. You work with warehouses and bin locations, serial numbers, batches with expiry dates, transfers and stock takes. Stock is valued at weighted average cost. This guide shows each step and says plainly which actions post to the general ledger and which only update stock quantities.
Set Up Warehouses and Bins
Go to Operations → Stock and open the Warehouses section. Add each store, depot or site with a code, name, city and province. Mark one warehouse as the default. Invoices that do not name a warehouse take stock from the default warehouse.
Open a warehouse and use the Bins tab to add bin codes with a short description. Bins can be switched off when they are no longer used.
Create Stock Items
On Operations → Stock, add a new item with its SKU, name, category, unit of measure, cost price and selling price. You can also import items from an Excel file.
Enter a minimum level, a reorder point and a maximum level. Items below their reorder point show on the low stock list, and Purchasing uses these levels for its reorder recommendations.
Each item has an Overview (stock on hand by warehouse), a Journals tab (every stock movement with its reference), a Serials tab and an Edit tab.
Stock is valued at weighted average cost. Receipts and landed costs update the item's cost price, and that cost is used for cost of sales when an invoice is issued. Leave the costing method on weighted average.
Track Serial Numbers and Batches
Record serial numbers against an item. Each serial number must be unique. Its status shows whether the unit is in stock, sold or returned. View them on the item's Serials tab.
Go to ERP → Stock Batches to record a batch number, item, warehouse, quantity, cost, manufacture date, expiry date and the supplier's batch reference. Batches close to expiry are flagged, and you can mark a batch as expired.
Batch stock can be allocated earliest-expiry-first (FEFO). A batch can be placed in quarantine so it is not allocated, and a batch number can be traced to see where it was used.
Move and Count Stock
On the item page, use Adjust to add or remove a quantity with a reason. An adjustment can never take stock below zero. Every adjustment is written to the stock journal.
Use the Transfers section on the Stock screen to move stock from one warehouse to another.
In the Stock Takes section, start a count for one warehouse. Generate the count lines, enter the counted quantities and review the variance report. When you complete the stock take, on-hand quantities are updated and the differences go to the stock journal.
Stock takes, adjustments, transfers and stock issued to job cards change quantities only. They do not post to the general ledger. If a count changes the value of your stock, ask your accountant to post a journal under Accounting → Journal Entries.
What Posts to the Ledger
| Event | Stock quantity | General ledger |
|---|---|---|
| Goods received (GRN) on a purchase order | Increases | DR 1500 Inventory / CR 2150 Goods received not invoiced |
| Landed cost voucher posted | No change (cost price rises) | DR 1500 Inventory / CR 2100 Accounts payable |
| Customer invoice issued with stock lines | Decreases | DR 5000 Cost of sales / CR 1500 Inventory at item cost |
| Adjustment, transfer, stock take, job card issue | Changes | None (stock journal only) |
Stock Reports
From the Stock screen, open Stock Reports for stock on hand, warehouse inventory, valuation by category, low stock alerts, zero stock items and the price list report.
Related Modules
Procurement & Supply Chain
Purchase orders, goods received notes, landed costs and reorder recommendations that bring stock in.
Production & Manufacturing
Bills of materials and work orders for the items you make.
CRM & Sales
Sales orders reserve stock; issued invoices reduce it and post cost of sales.
Accounting Rules
The exact journals behind receipts, invoices and cost of sales.