Cover Image
close this bookBasic Accounting for Credit and Savings Schemes (Oxfam, 1996, 96 p.)
close this folderChapter 9: Stock
View the document(introduction...)
View the documentSecurity
View the documentRecord keeping
View the documentStock cards
View the documentStock received
View the documentStock issued
View the documentItems issued on credit
View the documentChecking the stock
View the documentThe 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