Basic Accounting for Credit and Savings Schemes (Oxfam, 1996, 96 p.)
 Chapter 9: Stock
 (introduction...) Security Record keeping Stock cards Stock received Stock issued Items issued on credit Checking the stock The value of the stock

### Stock issued

Whenever items are issued from the store the storekeeper should record the details in the stock issue book:

Stock issue book

 Date Stock Issued Reference(1) Cost of Sales Received issued to stock sold value by

NOTE:
1 Cross-reference to cash book receipts or loan register (for items issued on credit).

Figure 52: Layout of a stock issue book

The stock issue book should record:

· the date the goods were issued from the store;
· the name of the person or group receiving the goods;
· the quantity issued;
· the cost of the stock issued;
· the signature of the person receiving the goods.

 Cost of = Average unit cost X Quantity issued stock issued (from stock card) Selling price = Price per unit X Quantity issued of stock issued (as set by project managers)

The storekeeper should also update the stock cards for stock issued.

She or he should enter the following details on the appropriate stock card:

· the date the goods were issued from the store;
· the name of the person or group receiving the goods;
· the cost of the stock issued (in the 'cost movement' column);
· the quantity issued (in the 'quantity movement' column);

The storekeeper should update the 'balance' columns by:

· deducting the cost of the stock issued from the amount in the 'cost balance' column;
· deducting the number of units from the 'quantity balance'.

For example, in figure 53, the cost of the two ploughs issued to Village

X on 28 November is (10,215 . 100) x 2 = 204 (rounded to nearest unit).

Therefore, the new 'cost balance' is 10,215 - 204 = 10,011. The new

'quantity balance' is 100 - 2 = 98.

Stock Card: ploughs

 Date Details Issued to/ received from Cost Movement Balance Quantity Movement Balance 2.11 Purchase 8,000 8,000 80 80 3.11 Transport 80 8,080 - 80 4.11 Return 2 ploughs (200) 7,880 (2) 78 25.11 Purchase 2,310 10,190 22 100 26.11 Transport 25 10,215 - 100 28.11 To Village X (204) 10,011 (2) 98

Figure 53: Stock card. showing Issue of stock