SQL Accounting Guide: Stock Module

In the fast-paced realm of contemporary business, effective financial management and meticulous control of inventory are essential for sustained success. To navigate these intricacies, businesses turn to robust software solutions seamlessly integrated into their daily operations. This article delves into the nuances of employing SQL Accounting software—a potent tool that not only streamlines financial processes but also provides extensive modules for detailed stock management.

From the initial stages of maintaining stock items to the intricate procedures of stock receiving, issuing, transferring, and adjusting, SQL Accounting offers a sophisticated yet user-friendly platform. This article aims to guide businesses through the step-by-step processes within the SQL Accounting system, shedding light on the path to precise and efficient inventory control.

stock module in sql

Maintain Stock Group

Creating and maintaining a Stock Group in an SQL-based accounting system involves defining the default account postings for a specific group of items. Below is a step-by-step guide on how to achieve this:

maintain stock group

  1. Access the Stock Group Maintenance Interface

Navigate to the Stock Group Maintenance section in your SQL accounting system. This is typically found within the settings or configuration menu.

  1. Enter Group Code and Description
  • Group Code: Enter a unique code that identifies the stock group. This code should be concise and descriptive. Provide a clear and meaningful description of the stock group. This helps users understand the purpose or category of items included in this group.
  1. Configure GL Account Codes

For each of the following default account types, select the appropriate GL Account code:

  • Default Sales Account

Select the GL Account code that represents the default Sales Account for the specific group of items. This account is credited when the user issues an invoice or debit note.

  • Default Cash Sales Account

Choose the GL Account code for the default Cash Sales Account related to the stock group. This account is credited when the user issues a cash sales transaction.

  • Default Sales Return Account

Specify the GL Account code for the default Sales Return Account. This account is debited when the user issues a credit note for returned items.

  • Default Purchase Account

Select the GL Account code for the default Purchase Account associated with the stock group. This account is debited when the user enters a purchase invoice or supplier debit note.

  • Default Cash Purchase Account

Choose the GL Account code for the default Cash Purchase Account. This account is debited when the user enters a cash purchase transaction.

  • Default Purchase Return Account

Specify the GL Account code for the default Purchase Return Account. This account is credited when the user enters a purchase return transaction.

Maintain Stock Item

The “Maintain Stock Item” feature within the SQL accounting system is a comprehensive tool designed to facilitate the management of individual items within your inventory.

maintain stock item

  1. Item Code and Description

Begin by assigning a unique Item Code to each item, followed by a descriptive and meaningful item description. This initial step lays the foundation for clear identification within your inventory system.

  1. Item Group and Details

Categorise each item by selecting the appropriate Item Group, providing a systematic way to organise and group similar items together. Populate essential fields such as Reference Cost to enhance the information associated with the item.

  1. Multiple Unit of Measure (UOM)

For items sold or bought in different sizes or units, this step allows you to specify the details for each Unit of Measure (UOM). Whether it’s Carton or Box, accurately defining multiple UOMs ensures flexibility in transactions.

  1. Tax Type

Select the applicable Tax Type for each item, especially crucial for accurate taxation, particularly when utilising the GST Module. This step ensures compliance with tax regulations and precise financial reporting.

  1. Secondary UOM

If an item requires a Secondary Unit of Measure, input the relevant details in this step. This feature is valuable when the primary UOM may not be the most convenient unit for all operations.

  1. Stock Control Option

Determine whether the item requires stock control. If the item is non-controllable (e.g., a service charge), untick the Stock Control option. This step is pivotal for managing items that don’t impact physical inventory.

  1. Active Status

Choose the Active option for items currently in use. Conversely, untick the Active option for items that are no longer active or available. This ensures an accurate representation of the inventory’s real-time status.

Stock Received

The “Stock Received” functionality in the SQL accounting system is a crucial process for accurately reflecting the influx of new inventory.

stock received

  1. Description Entry

Initiate the stock receiving process by entering a detailed description. This description serves as a reference on the Stock Card, providing insight into the nature or source of the received stock.

  1. Item Code and Details

Select the relevant Item Code for the received stock and proceed to enter essential information such as additional descriptions and quantities. This step ensures a comprehensive record of the specifics associated with each received item.

Optional Module – Multi Location (Warehouse) Module

  1. Location Selection

If utilising the Multi-Location (Warehouse) Module, specify the location where the received item is to be stored. This feature allows for meticulous tracking of inventory across different warehouse locations.

Optional Module – Project Module

  1. Project Selection

If leveraging the Project Module, choose the associated project for the received item. This step aids in attributing stock to specific projects, offering enhanced project-based inventory management.

Stock Issue

The “Stock Issue” functionality in the SQL accounting system is a critical process for accurately reflecting the depletion of inventory. 

stock issue

  1. Description Entry

Initiate the stock issuing process by entering a detailed description. This description will be displayed on the Stock Card, providing clarity on the purpose or destination of the issued stock.

  1. Item Code and Details

Select the relevant Item Code for the stock being issued and proceed to enter essential information such as additional descriptions and quantities. This step ensures a comprehensive record of the specifics associated with each issued item.

Stock Transfer

The “Stock Transfer” functionality in the SQL accounting system, especially when utilising the Multi-Location (Warehouse) Module, facilitates the seamless movement of inventory between different locations. 

stock transfer

  1. Item Code and Details
  • Begin by selecting the relevant Item Code for the items you intend to transfer.
  • Enter essential details such as a description of the transfer, quantity (Qty), and unit cost (U/Cost). These details provide a comprehensive record of the stock being transferred.

Optional Module – Multi Location (Warehouse) Module:

  1. From and To Location Selection
  • If the Multi-Location (Warehouse) Module is active, choose the From Location – the location from which the items are being transferred.
  • Select the To Location – the destination location where the items should be moved to. This feature allows for precise tracking of inventory across different warehouse locations.

Stock Adjustment

The “Stock Adjustment” function in the SQL accounting system is a crucial tool for maintaining accurate inventory levels by allowing manual corrections. 

stock adjustment

  1. Description Entry

Begin by entering a detailed description that will be displayed on the Stock Card. This description should provide clarity on the reason for the stock adjustment.

  1. Item Code and Details
  • Select the relevant Item Code for the item that requires adjustment.
  • Enter essential details such as a description of the adjustment, quantity (Qty), and unit cost (U/Cost). This information helps in creating a comprehensive record of the stock adjustment.

Example:

  • If you currently hold 10 units of Baking Flour, but the system erroneously shows 0 units, enter 10 under Qty. The system will add 10 units to correct the discrepancy.
  • If you currently hold 10 units of Baking Flour, but the system inaccurately shows 20 units, enter -10 under Qty. The system will deduct 10 units to rectify the discrepancy.

Conclusion

In managing the intricate facets of accounting and inventory control, the implementation of a robust and reliable system is paramount. The SQL Accounting software stands out as a comprehensive solution, offering a seamless and organised approach to stock management. From maintaining individual stock items to recording stock movements through stock received, issued, transfers, and adjustments, the SQL Accounting system provides the tools needed for accurate and efficient inventory control.

The step-by-step guides outlined in this article demonstrate the user-friendly nature of the SQL Accounting software, making it accessible to both novice and experienced users. The optional modules, such as Multi-Location (Warehouse) and Project Modules, add a layer of flexibility, catering to diverse business needs.

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Take your business accounting and inventory management to the next level with A-Plus, the trusted provider of SQL Accounting software. Experience the efficiency, accuracy, and flexibility that A-Plus brings to your operations. Visit our website or contact us today to learn more about how A-Plus can empower your business with cutting-edge SQL Accounting solutions. Invest in A-Plus for a seamless and optimised approach to managing your finances and inventory.