- Ice Ledger

Stock Control

The system provides full stock management and traceability from the point of purchase to warehousing to sales and post sale.

Under normal sales and purchase order (PO) processing, stock levels are incremented automatically when PO are processed and items booked in on Goods Received Notes (GRN), free stock levels adjusted when stock is allocated to Sales Orders (SO) and the levels decremented when allocated stock on sales orders are shipped.

Each lot of items that are purchased are treated as being from a single manufacturer / production batch. For traceability, each purchased batch (of the same item) can be assigned the relevant production batch reference. If the purchased batch contains items from multiple production runs then the purchased quantity can be 'split' in to appropriate smaller batches and each batch assigned their own production batch reference. This means that the items can be traced from the point of purchase, to warehousing for storage, to picking during stock allocation as part of sales order processing and post sales fro any future queries.

Also, the item unit cost prices is assigned to ALL the items in the purchased batch. Subsequent purchases will be assigned their own new purchase price. This means that each item purchased and sold has its own actual (and not an average cost) purchase price. This means that for each sale, a true gross profit can be calculated.

Stock Adjustments

Stock levels may also be adjusted using the following specific options:

Stock In: Stock adjustment in. Any new items that are acquired can be added to the company inventory. For each entry, a new items batch is created with relevant details like cost price and production batch reference. More ...
Stock Out: Items in stock may be booked out from existing stock batches, specifying the sale price. More ...
Increase: Occasionally, when physical stock is checked in the warehouse, the quantity of a particular item in stock may be greater than what is shown on the computer system. In such a situation, the quantity in in stoc of an existing stock batches can be increased to match the real quantity. More ...
Decrease: As in the previous scenario, physical quantity of an item may be less than what is shown on the system. Using this option, stock quantity in existing stock batches can be reduced to correct stock levels due to missing or un-accountable stock. More ...
Transfer: Transfer stock from one stock code to another. In situations where an item may be sold both in multiples and singles, under different stock codes, there may be a time when you have plenty of one but not the other. In which case you can transfer quantities from one stock code to the other. More ...
Move: Move stock between depots; this option is only available if the number of depots option is set to more than one. Stock may be moved between depots. For each stock move, two stock transactions are recorded. One of stock movement out (MO) for the from depot and another for stock movement in (MI) for the destination depot. Although, the overall stock level is not effected, if the quantity in the main warehouse is changed, then this will be reflected in the quantity in stock, shown in the stock record. More ...
Write Off: Any damaged or non saleable items can be scrapped. Specified quantity of stock from existing stock batches are decrements. Because the items are being scrapped, the 'sale' value of this stock is set to zero and can not be changed. More ...

Stock In

Below is a screen shot of the stock in option, followed by a brief explanation for each item. Stock adjustment details are entered in the upper part of the screen whilst a short list of previous stock movement transactions are listed below. These are intended to help you keep track of where you are in case of interruptions. The actual transaction types and the number of transactions that are listed can be set at the top of the screen.

Stock Adjustments

Working from left to right and top to bottom:

Field		Description.
Date		Transaction date that will be recorded - defaults to the current program date.
History		Number of recent stock transactions records to be displayed in the bottom half of the screen.
History Transaction Type		There are 4 options available to display stock transactions: All: Displays the latest selected number of stock transactions (most recent at the top). <Selected Option> - All: Displays the latest stock transactions of the same type as the selected stock option. Selected Item - All: Displays the latest stock transactions for the selected stock item. The list is updated each time a different stock items is selected. Selected Item - <Selected Option>: Displays the stock transactions of the same type as the selected stock option for the currently selected item.
Depot		If the system has been configured for multiple depots, then you can select the depot where the stock is tobe booked in to or is located and is to be adjusted or moved from.
Stk Code		Enter the stock code for the desired item. Non-Stocked items may not be selected. The stock item description, current stock quantity, quantity free (based on remaining quantities of existing batches of stock, as shown in the stock record) and average cost price are displayed below and to the right.
Tag ID		This field is not present in the Stock In option. Once the stock item has been selected, above, this drop down list can be used to select a specific batch of stock. Upon selecting an items batch, item details for the selected batch are dispalyed on the screen, including cost price. The quantity free is updated to reflect the quantity free for the selected batch and not for all batches for the selected stock item. For obvious reasons, you can not reduce the batch stock levels by more than the free quantity.
Tag Numeric ID		This is to the right of the previous Tag ID field. When a batch of a particular item is booked in to stock, it is assigned a unique numeric Tag ID with an optional user definable prefix. If you know the tag reference of stored items batch, you can enter the numeric part of the tag reference in this field to locate the items batch in question without having to first select a stock item. When moving stock between depots, you can also enter a Tag prefix in this field and it will be assigned to the the new storage batch that is created when the selected stock quantity is moved to the destination depot.
Quantity		Quantity by which the stock level is to be adjusted. When reducing stock, quantity must be no greater than the free quantity.
Batch / Loc		When an existing items batch is selected, the production batch reference (casting number) and current storage location are displayed in these 2 fields. In the Stock In option, you can enter the production batch reference and warehouse storage locations in these two respective fields.
Unit Cost		For existing items batch, the unit cost price is displayed and may not be changed. In Goods In option, however, you can enter the unit cost price for the new items.
Depot - To		This drop down list is similar to the Depot field, above and is only applicable to the Move option. Here you select the depot that the selected stock should be moved to.
New Location		This field is to the right of the previous field and is also only applicable to the Stock Move option. Here, you can enter the new storage location, in the new depot.
Sell Price		Applicable to the Stock Out option only and allows you to enter the unit sell price, when booking stock out.
Reference		This is a short reference you may wish to record as part of the stock transaction log. Under Stock In option, this is also recorded against the new items batch that is created.
Details		As reference, above, you can enter additional details to be recorded as part of the stock transaction. This will also be saved as Notes in the storage location for new items batch.
Total		Total cost, sale or value of the selected quantity of stock. If appropriate, profit / loss amounts are displayed to the right of this field together with a percentage within brackets.
Keep Details		If you are making multiple adjustments for the same stock items, then you can check this box to retain information between transactions.
Save & Add		Use this button to save changes for the selected item and to enter further stock adjustments. This button is enabled only when a stock item or batch has been selected and the entered quantity is greater than zero.
Save & Close		Similar to the previous save option with the exception that the screen is closed after saving.
Clear		Clears the data on the screen without saving.
Cancel		Closes the screen without saving.
History		Shows a list of most recent stock transaction, appropriate to the selected option and the history options selected at the top of each screen. The displayed history is updated on saving each new trasaction. In line with other list views, these may be customised.

Stock Out

Stock Adjustments

As the screen for Stock Out is the same as that for Stock In, only the fields that are perninent are mentioned below:

Field		Description.
Quantity		Quantity to be booked out.
Unit Cost		Unit cost to be attributed to the stock being booked out.
Sell Price		If the stock is being sold then enter the unit sale price.

Stock Increase

Stock Adjustments

This option allows quantity of current / previously stocked items to be increased. For example, when missing stock has been located and needs to be put back into the system. As the screen for Stock Increase is the same as that for Stock In, only the fields that are perninent are mentioned below:

Field		Description.
Tag ID		Once the appropriate stock code has been selected, above, this drop down list can be used to select a specific batch of stock that has been purchased previously. Upon selecting an items batch, item details for the selected batch are dispalyed on the screen, including cost price. The quantity free is updated to reflect the quantity free for the selected batch and NOT for all batches of selected stock item.
Quantity		Enter quantity that the selected stock needs to be increased by.
Unit Cost		Previous unit cost of the item for the selected batch will be displayed and may be amended. Entering a cost price for the new (found) stock allows accurate stock valuation.

Stock Decrease

Stock Adjustments

This option allows quantity of currently stocked items to be decreased. For example, when you cannot locate stock in a large warehouse or stock has to be removed for any reason. As the screen for Stock Increase is the same as that for Stock In, only the fields that are perninent are mentioned below:

Field		Description.
Stk Code		Enter the stock code for the desired item. Only thos items for which the system shows free stock may be selected; Non-Stocked items may not be selected.
Tag ID		Once the stock item has been selected, above, this drop down list can be used to select a specific batch of stock. Upon selecting an items batch, item details for the selected batch are dispalyed on the screen, including cost price. The quantity free is updated to reflect the quantity free for the selected batch and NOT for all batches of the selected stock item.
Quantity		Quantity by which the stock level is to be reduced. Quantity to be decreased cannot be greater than the free quantity for the selected batch. If you need reduce the stock even further, then you must select other batches of the same stock and decrease their quantity appropriately.
Unit Cost		Enter the unit cost price for the stock being removed to maintain accurate stock valuation.

Stock Transfer

Stock Adjustments

In multi depot setup, this option allows stocked items to be transferred between depots. As the screen for Stock Increase is the same as that for Stock In, only the fields that are perninent are mentioned below:

Depot		This will be set to the main company depot.
Depot - To		Select the depot that the stock is to be moved to.

Stock Move

Stock Adjustments

In multi depot setup, this option allows stocked items to be transferred between depots.

As the screen for Stock Increase is the same as that for Stock In, only the fields that are perninent are mentioned below:

Depot		This will be set to the depot that the selected batch of stock is currently located in.
Depot - To		Select the depot that the stock is to be moved to.
Alternatively		You can use the option within the stock record to move selected stock.

Stock Write Off (Scrap)

Stock Adjustments

Damaged or spoilt stock may be written off / scrapped using this option. You cannot write off more than the available free stock of the item for the selected batch. If you need to write-off greater quantity, then select the appropriate additional batched and reduce as per requirement.

As the screen for Stock Increase is the same as that for Stock In, only the fields that are perninent are mentioned below:

Quantity		Enter the quantity to be written off.
Unit Cost		Enter the unit cost price for the stock in question to maintain accurate stock valuation.

There are a number of points to note when using these options:

To adjust stock levels of any existing batches of stock, you must first select the appropriate batch.
Before any details can be saved, you must select the appropriate stock item or batch and enter the quantity.
You can not reduce any stock quantity greater than the current free quantity (quantity in stock minus any quantity that has been allocated in sales orders).
All changes entered in these options create a full stock transaction log.