Stock Item Maintenance
This screen is used to create and maintain details about a stock item.
Active
If this toggle switch is shown as inactive the stock item will be considered inactive and it will not appear in stock item drop-down lists.
Stock Item Code
Enter a code for the stock item.
It is recommended that some thought is given to the structure of stock item nomenclature to provide a logic for your enterprise.
Stock Item
Enter a unique name for the stock item.
It is recommended that some thought is given to the structure of stock item nomenclature to provide a logic for your enterprise.
Notes
Free format notes can be entered is helpful, otherwise leave blank.
Supplier Reference
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.
Stock Type
Select an appropriate stock type.
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.
- Finished Goods Bought-In (FGB)
- Goods purchased for resale.
- Finished Goods Manufactured (FGM)
- Manufactured Goods for sale
- Raw Materials (RMT)
- Raw materials before processing
- Work in Progress (WIP)
- Sub-components
- Non Stocked (NST)
- Items not stocked but valued into a BOM
- Labour (LAB)
- Labour costs valued into a BOM
If you are not sure which type to use then you should consult your advisor.
Opening Balance At
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.
Stock Location
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.
Stock UoM
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.
In Stock
Enter the physical opening quantity of units of stock for this Stock Item. Ensure the quantity is consistent with the selected Units of Stock.
Reserved
Enter any quantity already Reserved by a sales order against the In Stock quantity.
Available
Quantity available as free stock. Calculated as the difference between the In Stock quantity less any Reserved.
Reorder Level
A user definable reorder level for stock quantity. This is used to highlight and report low levels of available stock.
Stock Account
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.
For an account simply start typing an account name or, if activated, ledger codeledger code
and the system will provide
a list of potential selections; choose the required account by clicking on it.
Alternatively click the 
icon to display a list and click on the account required.
Note to change to other account-type options click the small down arrow at the base of the screen.
For a new stock account select Create Account at the top of the list. Note 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.
Unit Cost
Enter an appropriate Unit Cost consistent with the stock valuation method selected in Business Profile.
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.
Prior Unit Cost
Displays the unit cost prior to the revaluation to the current cost.
Stock Value
Displays the stock value, the quantity in stock multiplied by the current cost.
Unit Cost Materials
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.
Unit Cost Labour
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.
Unit Cost Other NS (Non Stocked)
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.
Sales Item
The Sales Item is used to select and as the text for a sales invoice line item.
From the drop-down either select an existing sales item or create a new Sales Item (Create Sales Item).
Sales Item Product Code
The Product Code will appear on invoices if the invoice style "Goods Invoice".
Income Account
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.
Net Unit Price
Enter a net unit sales price for the sales item.
VAT Code
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.
Stock Adjustment Quantity
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.
Date
Enter the date of the stock adjustment. This date will be used in the recording of the adjustment.