Accounting & inventory help
Inventory and production
How stock is kept, moved and valued; products and their units, groups, opening stock and tools; warehouses and negative stock; transfers and adjustments; the stock reports; and production from bill of material to finished goods.
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Stock basics
- How stock works Stock is kept as a record of goods coming in and going out of each warehouse. Nobody types a balance: the balance is what the entries add up to. Documents write the…
- Which documents move stock, and how A list of every document that changes stock: whether goods come in or go out, from which warehouse, at what value, and when (on save, or only when approved).
- How stock is valued and what a sale costs Penahak values stock first in, first out (FIFO): the oldest goods are assumed to be sold first. The cost of a sale and the value of what is left are worked out from the…
- Closing stock in the profit and loss, the balance sheet and the year end Stock documents do not post to the ledgers. The value of your stock reaches the profit and loss and the balance sheet when you tick Include closing stock, and the year…
Products
- Products: what the stock side needs from a product The product is the item you stock, buy and sell. This article covers the fields that change stock, value and postings, the five fields that lock once a product has been…
- Stocked items, services and fixed assets A product is a stocked item, a service or a fixed asset. Only stocked items have stock. A service has no stock in any report, and a fixed asset is kept in its own…
- Product categories and sub categories A product category groups products for reports, for default profit and for default stock levels. A category can sit under a parent category, and the stock reports can…
- Units and alternative units Stock is counted in the product's unit. A product can also have a second unit, such as boxes next to pieces, with a fixed conversion between the two. Both quantities are…
- Sales and purchase ledgers on a product A product can carry its own sales, purchase and return ledgers, so each kind of goods is booked on its own account. A product without them uses the company's ledgers…
- Buy rate, sales rate and stock rate Three different rates appear on documents. The buy rate and sales rate are prices you set on the product. The stock rate is the cost of what is in the warehouse now…
- Batch, expiry date and serial number tracking A product can be tracked by batch (a lot received together, with its own dates) or by serial number (one number for every unit). Every document that moves such a product…
- Minimum, maximum and reorder levels Each product can have a minimum, a maximum and a reorder level. The Stock status report shows them next to the quantity. Penahak can also send a nightly alert for…
Product tools
- Bundling and unbundling products Bundling turns several products into one composite product (a gift box, a kit). Unbundling breaks a product or a composite back into parts. Each is a stock adjustment…
- Lock a product Locking a product keeps it off sales and purchase documents without deleting it or its stock history. A locked product also disappears from the Stock status report, but…
- Product mapping and warehouse mapping Two tools map products in bulk. Product mapping puts many products into a category, sub category or secondary group at once. Warehouse mapping says which products belong…
- Opening stock Opening stock records what you already hold on the day you start. Enter each product's quantity, rate and warehouse once, dated the opening entry date. It starts the…
- Why a product is not offered on a document When a product will not show on a sales or purchase line, one of six things is usually the cause: it is locked, it is marked for the other side, the warehouse has a…
Warehouses
- Set up stock: a checklist What to set up before the first stock document, in order: branches and warehouses, numbering series, the Inventory settings, units and categories, products, and opening…
- Warehouses (godowns) A warehouse is a place where stock is kept: a shop floor, a store room, a vehicle. Each one belongs to a branch. Every stock entry names a warehouse, so the balance is…
- Which warehouse a document line uses Every stock line on a sales or purchase document has its own warehouse. The list is the warehouses of your branch, narrowed to yours when your user is mapped. The line…
- Negative stock: where Penahak checks it Negative stock means a warehouse shows less than zero because more went out than came in. Only sales documents follow the company's Negative stock setting. Transfers…
- Reading stock by warehouse Four places show stock by warehouse: the Warehouse page for one warehouse, the Stock summary grouped by warehouse for all, the balance on a document line, and the Stock…
Stock movements
- Move stock between warehouses with a stock transfer A stock transfer takes goods out of one warehouse and brings them into another on the same day. It changes where the goods are, not what you own: no ledger entry is…
- Send stock to another branch Moving stock to another branch takes two documents: Branch Stock Out at the sending branch, and later Branch Stock IN at the receiving branch. Between the two the goods…
- Adjust stock: counts, damage, expiry and write-offs A stock adjustment corrects the quantity of a product in a warehouse and says why: a count difference, damage, expiry, theft, a donation, or goods used up. It changes…
- Count the stock and correct the differences Penahak has no separate count screen. A count is done on paper from the Stock summary, and each difference is entered as a Stock adjustment dated the day of the count…
- Edit, delete and approve a transfer or an adjustment A transfer or an adjustment can be edited or deleted until it is approved (where approval is on), its year is locked, or, for a branch transfer, it has been received…
Stock reports
- Stock summary Stock summary shows each product's opening, in, out and balance quantity for a period, and optionally the value. It is the report to count against and the report the…
- Stock ledger details Stock ledger details lists every stock movement of a product, one line for each document, with the quantity in or out, the value and a running balance. Use it to find…
- Stock status Stock status shows the quantity of each product in each warehouse on a date, next to the product's minimum and maximum stock. Use it to see what is low or over-stocked…
- Stock Analysis Report Stock Analysis Report breaks each product's movement into purchases, goods received, returns, sales, deliveries, production, adjustments and the closing stock, in…
- Stock valuation: what your stock is worth To see what your stock is worth on a date, open Stock summary with the report type Stock valuation (summary). The total of its Balance value is your closing stock, and…
- Stock adjustment, stock transfer and expiry/breakage summaries Three summaries list the stock documents of a period: Stock adjustment summary (with the reason), Stock transfer summary (from and to warehouse) and Stock expiry…
- Serial no Item Details Serial no Item Details lists every serial number with the document it came in on, the document it left on, the party and, for vehicles, the chassis, engine and plate…
- Landed cost details Landed cost details shows what each purchased line really cost per unit: the price, the product's own adjustments and the bill's adjustments such as freight and duty…
- Product aging report The Product aging report shows how long the stock you hold has been in the warehouse, in ageing columns such as 0-30 days, 31-60 days and more. Use it to find…
- Profitability Report: sales against cost The Profitability Report shows, for each product, what you sold, what the goods cost and the profit, as a percentage of cost and of sales. It is where the cost of goods…
Production
- Production: from the bill of material to finished goods Production turns raw materials into finished goods in three documents: a Bill of Material (the recipe), a Production Order (the plan) and a Production Journal (what was…
- Bill of material A bill of material is the recipe of a product: what one run makes, which raw materials it uses, the fixed costs and the by-products. It must be approved, and not locked…
- Production order A production order plans a run: which approved bill of material, how many units, in which warehouse, by whom. It moves no stock. A production journal can only be made…
- Production journal: record production and approve it A production journal records what was made from an approved production order. Saving it moves no stock. Stock moves when you approve it at the quality check: the raw…
- What production changes in stock and in the books A production journal's approval takes raw materials out at their average cost, brings the approved finished goods in at the total cost shared over the quantity produced…
- Set up production Before the first production you need approval switched on for the bill of material and the production order, numbering series for the three documents, a cost centre…
- Production reports Five reports cover production: Bill of material details, Production details, Produced goods costing details, Production approved and rejected products details and Raw…
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