Many
Inventory software with accounting
Stock items with their units and godowns, valued at average cost, moved by your purchases, sales, returns and stock journals — and the closing stock flows into the profit and loss account and the balance sheet by itself.
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Setting up the stock
Switch on Maintain stock items for the company (Features, F11), and more than one godown if you keep stock in more than one place. Then create:
- Units — Nos, Pcs, Kg, Ltr, Mtr and Box are there already; add Bag, Dozen, Set or any other with the number of decimal places it needs.
- Stock groups — optional headings such as Groceries or Spares, so the stock summary is grouped.
- Stock items — name, unit, selling price, GST rate and HSN code, and the opening stock in each godown (quantity and rate, or quantity and value).
How stock moves
| Voucher | Stock | Counted in the average cost |
|---|---|---|
| Purchase (F9) | comes in | yes — at the line's value after discount |
| Sales (F8) | goes out | no |
| Credit note (Ctrl+F8) — a sales return | comes back in | no (quantity only) |
| Debit note (Ctrl+F9) — a purchase return | goes back out | no |
| Stock journal (Alt+F7) | source goes out; destination comes in | what is made, yes; what is only moved between godowns, no |
The stock summary
Stock Summary (S on the main menu) shows every item under its group with the closing quantity, the average rate and the value; Alt+F1 adds the opening, inward and outward quantities for the period. Enter on an item lists every voucher that moved it, with a running quantity. A quantity below nothing — sold more than was bought — shows in red so it can be found and put right.
Average cost
The value of an item on any day is its quantity that day × (cost of the opening stock + cost of everything bought or made up to that day) ÷ (quantity of the opening stock + quantity bought or made). It is the same figure the profit and loss account takes as closing stock, so the books and the stock never disagree.
Can I keep stock in more than one godown or shop?
Yes. Switch on more than one godown under Features, create the godowns, and each invoice line and stock journal line says which godown the goods came from or went to. The Godown Summary shows what is in each.
Which valuation method does it use?
Average cost, worked out over everything from the day the books begin. FIFO, LIFO and standard cost are not offered.
How do I move goods from one godown to another?
A stock journal (Alt+F7): the item and the old godown on the source side, the same item and quantity with the new godown on the destination side.
Can I record goods used in making something?
Yes, with a stock journal: the raw materials on the source side, the finished goods on the destination side with their value. Bills of material are not kept, so each production is typed in.
Can I keep books without stock items?
Yes. Switch Maintain stock items off; the sales and purchases are then invoices of ledgers, and you type the closing stock value each time you count it (under Features).
More tools: Account Book (simpler, in plain words) · Shop Billing Counter · GST Calculator · Salary Slip Maker