This screen is used to create and maintain details about a stock item.
For more information on the working with the stock module see 'Menu->Help->User Guides->Stock'.

If this checkbox is unchecked a stock item will be considered inactive. Deactivate a stock item if you do not want it to appear in stock item drop-down lists.

Enter a unique name for the stock item. This is mandatory.

It is recommended that some thought is given to the structure of stock item nomenclature to provide a logic for your enterprise.

Enter the Supplier reference, catalogue or part number for the predominant Supplier of the Stock Item.

The Supplier Reference will then be automatically populated in the relevant field when a purchase order is raised for the stock item. It can be overwritten at that time if necessary.

You can leave this field blank and enter the Supplier reference at the time the purchase order is created.

Select an appropriate stock type. This is manadatory.

The types of stock offered in the drop down list are associated with availability for Bills of Material and rules for stock consumption. Note that Labour and Non Stocked types are not physical stocks but are available for Bills of Material costing. Accurate selection will enhance the accuracy of stock management and valuation.

If you are not sure which type to use then you should consult your advisor.

Select either to create a new stock account (Create Account) for the stock item or choose an existing stock account to post transactions associated with this stock item. This is manadatory.

If a new account is being created then the Stock Type selected will determine the parent account.

If you are not sure about which stock account is appropriate then you should consult your advisor.

Enter an appropriate Unit Cost consistent with the stock valuation method selected in Business Profile. This is manadatory .

Note that if the stock type is a Finished Goods Manufactured or a Work in Progress then a unit cost cannot be entered.
It will be calculated when the BOM is entered.

If you are not sure about which stock valuation method is appropriate then you should consult your advisor.

Displays the unit cost prior to the revaluation to the current cost.

When a BOM has been costed, this field displays the unit material cost.

The figure is computed as a rolled figure to include any material content from sub-components for which there are BOM's.

When a BOM has been costed, this field displays the unit labour cost.

The figure is computed as a rolled figure to include any labour content from sub-components for which there are BOM's.

When a BOM has been costed, this field displays the unit other non stocked cost.

The figure is computed as a rolled figure to include any other non stocked content from sub-components for which there are BOM's.

The stock item creation will be given this date and any stock movements (opening balances) from this screen will have this date as the transaction date

If required enter details of a location point the stock is held in.

This is for memo purposes only and is not a required field.

Select the unit of measure to be used by this stock item as the stock keeping unit.
Units of Measure need to have been previously defined via the Define Stock UoM screen.

Enter the physical opening quantity of units of stock for this Stock Item. Ensure the quantity is consistent with the selected Units of Stock

Enter any quantity already Reserved by a sales order against the In Stock quantity.

Quantity available as free stock. Calculated as the difference between the In Stock quantity less any Reserved.

A user definable reorder level for stock quantity. This is used to highlight and report low levels of available stock.

The Sales Item is used to select and as the text for a sales invoice line item.

From the dropdown either select an existing sales item or create a new Sales Item (Create Sales Item).

Enter a description of the Sales Item. You may copy the Stock Item description if desired.

If the Description is changed, the Sales Item name will be amended to show the same text, and will appear on sales invoices.

Enter a net unit sales price for the sales item.

Select an account to which sales income for this sales item should be posted. If you are not sure which account to use you should consult your advisor.

Select a default VAT rate for sales of the item. If you are not sure which rate to set for an item you should consult your advisor.

Enter the date of the stock adjustment. This date will be used in the recording of the adjustment.

Enter the quantity of the stock adjustment, an increase as a positive and a decrease as a negative (- sign in front) quantity)

The physical stock is amended by the adjustment quantity. The stock value is also changed by an amount equivalent to multiplying the quantity by the unit cost.
Postings are made to the appropriate Stock Account and the Stock Value Adjustment Account in profit and loss.