u nderstanding s tock courses 2011015 and 2011016
Post on 02-Jan-2016
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UNDERSTANDING STOCK
Courses 2011015 and 2011016
Products• Physical items• Used internally, or sold
Services• Items not physically counted• Phone, electricity, computer support,
classes
Fixed Assets• Physical items• Items used internally, that are not
consumables
Products and services are treated differently
Internally used stock
Is this item going to be used up?orIs it a Fixed Asset?
Depreciable?
No – Expense itYes – put it to the fixed assets clearing account, and create it as an asset in the FA module
True cost of stock
Staff time and phone calls
Agent fees
Insurance
Freight
Duty
Item price paid to supplier
Get this wrong and you will not know what is making you a profit or a loss
If you do service jobs, you should use Job Costing
COMPARATIVE TOTAL IS IN GBP
ON COSTS IS IN KINA
These are the total of all extra costs involved with this product
ZOOM IN TO ADD THE ON COSTS
• If you do service jobs
• If you rent properties
• If you do warranty work
• Get Job Costing, and put stock usage, staff time, and outside services against the job to see what real profits or losses you are making
This is the purchasing system for stock
Requisitions
Goods Received
Supplier Invoice
Goods Returned
Supplier Credit Note
Purchase Order
• If any of these steps are kept manual, all staff do not have full information
• If you have field manual POs, enter them in here to have full information
• Delete out old documents, so that all staff have full information
• Each document feeds into the next. Information is entered only once
• If you sell physical products or services, get a Web Shop
• If you do not, you can be sure that your competitors will
• These will feed straight into your Attaché as orders or invoices (your choice)
CONTROL YOUR STOCK AND YOU CAN CONTROL YOUR
COMPANY
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