Getting Started with Stock Module

Getting Started with Stock Module
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Welcome to the Stock Module
of WinBooks on Web
The “Stock” module of WinBooks on web could also be called the “Inventory” module. It is only available in
the Enterprise and the subsequent versions.
With the Stock module of WinBooks on web, you can:
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Track the current stock quantity and the stock value after every purchase and sale
Value your stock by FIFO, Average purchase price, or Current purchase price method
Recompute the value of your stock both automatically and manually
Manage your stock in multiple warehouses
Mange your stock by batch and serial numbers
Export Stock reports to PDF, Excel, and HTML format
Note: This document is mainly focused on the Stock module. If you have questions about the Invoicing
module such as how to create items, documents and other journals in the setup of default data, please refer
to Getting Started with Invoicing module - Business Version.pdf
To learn more about other versions of WinBooks on Web and their prices, go to
http://www.winbooks.be/fr/prices
We would love to hear from you! If you have any questions or comments about the Stock module, please
contact your reseller.
Thank you for using WinBooks on Web. We hope you will enjoy invoicing with WinBooks on Web and let us
help you run your business more efficiently.
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Activating Stock module
Click Settings - Control
Panel
Click Folder options
Check Stock and click Save
when finished.
Note that in order for the
Stock module to be
activated, the Invoicing
module must be activated
first.
The application will restart.
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Setting up default data
Open Control Panel again,
click Invoicing - Setup
default data
Check the journals that you
want to create (if they have
not existed already)
Note: you can rename the
journals in your preferences
Click Next when finished
Click Install and Finish for
the setup to take effect
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Stock options
Click Control Panel –
Stock – Stock options
Stock valuation method
3 stock valuation methods:
Average purchase price
& FIFO: Could slow down
processing of application
FIFO: The most common
valuation method
Current purchase price:
The fastest method to
compute stock value
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Default stock management
If you choose in stock,
when you create new
items, they will be put in
stock automatically
Item is put in
stock
automatically
when you create it
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Recompute the stock value
This is how “recompute the stock value” works: When you modify an old transaction such as modifying the
quantities or the unit price in a document of some weeks ago for example, the stock value will be
recomputed for that transaction and subsequent transactions. There are 3 ways to recompute stock value.
Depending on the way you choose to recompute stock value, it will take the application different amount of
time to process.
“Always immediately”: This could take a while if you have a lot of transactions
“Immediately when few transactions are concerned”:
When the number of transactions to recompute is lower than 100, for example, the stock will be
recomputed immediately.
However, if the number is greater than 100, you will have to start the recomputing manually from the
Control Panel (similar to option On demand).
“On demand”: You can manually recompute stock value whenever you like by going to Control Panel –
Stock - RecomputeStock
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Warehouse
Click Control Panel - Stock Warehouse
Click New to create new
warehouse
Note: you need to create at
least 1 warehouse to manage
your stock
Enter information of
warehouse and click Save
when finished
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Price management for items
Prices are required if you want to manage items whether they are put in stock or not.
Click Control Panel –
Invoicing – Invoicing
options
Activate at least Purchase
prices
If you activate Margin %
only, Sale price = Cost price /
(1 – margin %)
Click Save when finished
Note: Please refer to Getting Started with Invoicing _ Enterprise version final version.pdf if you want to know
more about prices management.
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Entering beginning balance for items
Creating supplier “Inventory”
If you already have stock before using WinBooks on web, you will need to input the quantities into the
system. The creation of a fake supplier (Inventory) allows you to easily entering the beginning balance of
stock into WinBooks on web.
Click Files (on Top bar) –
Common - Suppliers
Enter Name and Reference
Click Save when finished
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Entering the beginning balance for items
You could use a specific journal of the type “Purchase delivery” called STOCKIN, for example, to enter the
initial balance for items. This journal can be used for the initial balance or stock adjustment. This can help
you avoid mixing up the stock initial balance with the true purchase deliveries.
Creating journal STOCKIN
Click Control Panel (on Top
bar) – Invoicing - Journals
Click New to create a new
journal
Select the journal type
Purchase delivery
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Enter information for journal
Make sure you check No
booking option (Invoices of
this journal won’t be linked to
Accounting)
Click Add to search the layout
for the journal
The layout Invoice with Right
Title is suggested
Click Select
Click Save when finished
The journal STOCKIN has just
been created
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Enter beginning balance for items
Click New to
create a new
document
Choose journal STOCKIN
Enter date (when you
count your inventory)
Enter Item, Quantity, Unit price
(Purchase price), Warehouse
Choose supplier “INVENTORY” and
enter Reference
Click Save when finished
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View items in stock
Previously you input the beginning balance of item Canon Ixus 17 into the system by creating a document
in the journal Stock In. Let’s look at how it is managed in stock.
In tab Terms, you can see the status Management In stock of item Canon Ixus 17 and its quantities
In tab Stocks, you can see the Quantity stock, FIFO value, and FIFO Unit price of item Canon Ixus 17
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Stock reports
There are 3 reports available in Stock module of WinBooks on web: Inventory, Stock Movement History, and
Gross Profit. These reports provide you quick and summarized information about your stock to help you
make better business decisions.
Click Output (on Top bar) –
Invoicing – Reports
Select Third party (customers),
warehouses, and items
3 available formats for report
Just click on your preferred
format to print out the report
You can view gross profit of
Sales Invoice journal and Sales
Credit Note journal
Select period and date for report
Select order of columns in report
You can choose to sum by document
Click here to select
region and languages
for your report
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Below is a sample of “Gross Profit” report with Date order and sum by document
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Questions and Answers
1. When are stock’s quantities and value affected?
Note: The following example is created assuming you already activate Order Management module. Please
refer to Getting Started with Order module.pdf to learn more about this module.
Sales quotations
On 5/5/2014, a sales quotation for 4 items is created and sent to customer OLI TEAM
Item Canon A410 (beginning balance =40) is one of the items quoted to customer OLI TEAM. In tab Terms
of Item Canon A 410 (beginning balance =40), you can see that the stock quantities of item does not
change
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In tab Stocks of Item Canon A 410 (beginning balance =40), you can see that the stock quantities and FIFO
value of item does not change
Conclusion:
Sales quotations do not affect stock quantities.
Deliveries
On the sales quotation form, click Order
to transform the sales quotation to a delivery
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Select journal Sales Delivery and the delivery date. Click Execute
when finished
Sales delivery 1 has just been created from the transformation of sales quotation 1
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Now let’s see how the sales delivery 1 affects the stock quantities of item Canon A410.
In tab Terms, you can see that stock quantities of item Canon A410 reduces from 40 to 30 items due to the
delivery of 10 items Canon A410 in sales delivery 1
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In tab Stocks, you can see that stock quantities and FIFO value of item Canon A410 also decrease
Conclusion:
Deliveries affect stock quantities.
Sales invoice transformed from a delivery
For this example, we will use the sales delivery 1 above.
On the delivery form, click Invoice
to transform the delivery
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Select journal Sales Invoice, date, fiscal year and period. Click Execute
when finished
Sales invoice 1 is created from the transformation of the sales delivery 1
Because sales invoice 1 was created from the transformation of sales delivery 1, it does not affect the stock
quantities of item Canon A410. Stock quantities of item Canon A410 is only affected by sales delivery 1.
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You can see that there is no warehouse listed in this sales invoice 1
In tab Terms, stock quantities of item Canon A410 is the same (30 items) after the sales invoice 1 is created
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In tab Stocks, stock quantities and FIFO value of item Canon A410 do not change (balance is still =30) after
the creation of sales invoice 1
Conclusion:
Sales invoice created from the transformation of sales delivery does not impact stock
quantities of items.
Sales invoice created by itself
In sales invoice 2, 8 items Canon A410 (balance=30) are invoiced to customer MACARENO
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In tab Terms, stock quantities of item Canon A410 reduces from 30 items to 22 items
In tab Stocks, stock quantities and FIFO value of item Canon A410 also go down
Conclusion:
Sales invoice created by itself impact stock quantities of items.
Please note that in order to transform the documents, you need to activate Order Management module.
Otherwise, you will have to manually create documents affecting the stock (deliveries, invoices or credit
notes).
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2. How to make stock adjustments?
WinBooks on web automatically adjusts your stock quantities after every purchase and sale. However, if the
stock quantities decrease because of fire, theft or breakage, you need to adjust the stock quantities by
creating documents in a specific journal of the type “Sale delivery” called STOCKOUT. Similar to journal
STOCKIN, using journal STOCKOUT can prevent you from mixing up stock adjustment and sales deliveries.
(The steps to create journal STOCKOUT is similar to those for journal STOCKIN on page 11, except that the
journal type for STOCKOUT is Sales Delivery)
Choose journal STOCKOUT
Enter date (when you
count your inventory)
Enter Item, Quantity, Unit price
(Purchase price), Warehouse
Choose customer “INVENTORY”
and enter Reference
Click Save when finished
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Stock quantities and FIFO value of item Camera Bag go down
Note: The above example is for “output correction of stock”. For “input correction of stock”, which rarely
happens, you can adjust your stock quantities in a similar way: choose journal STOCKIN and fill in the
information.
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3. How to manage items by batch and serial numbers?
Winbooks on web makes it easier for you to manage your stock by supporting the function “Manage batch
and serial numbers”. As you know, batch numbers work for stock that is abundant in quantity. Examples of
stock managed by batch numbers are milk, eggs, and so on. Serial number is just a specific case of batch
number where the quantity of stock can only be 0 or 1 for one serial number. For example: cell phones, cars,
cameras and so on.
Check the boxes Manage
batch numbers and Manage
serial numbers to activate
the function.
Click Save when finished
When creating item, under Management, select “In serial number” if you want to manage the item by
serial number
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Under Management, select “In batch number” if you want to manage the item by batch number
Now you will input the beginning balance for items “Canon-G3” and “SCREENCLEANSER” in journal
STOCKIN.
First, enter Item, Quantity, Unit Price, and % (discount %)
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At the Batch/serial nr. and Expiration columns, directly enter this information. Then enter Warehouse.
After finishing entering all the information, click Save
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In tab Stocks of item “Canon-G3”, you can see how the item is managed by serial number.
Similarly, item “SCREENCLEANSER” is managed by batch number.
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If you want to review and edit the information of the batch/serial numbers, open the document in which
you enter the Batch/serial nr. and Expiration and click Modify
Then select a batch/serial number and click the lookup button
to open the Batch/Serial numbers form
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In the batch/serial number form, click Edit
Produced, and Expiration.
After making the changes, click Save
to edit the information. You can change the Number,
to save the changes.
--End of document. Thank you for using WinBooks on Web-33