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Getting started in Stock Control

Before beginning to work in Stock Control you must:

• Update foreign currencies and exchange rates, if required.
• Specify your default nominal accounts in the Nominal Ledger.
• Set up customer details in the Sales Ledger.
• Set up your supplier details in the Purchase Ledger.
• Set up stock control module.
• Set up your stock items.
• Set up pricing and discounts in the Price Book.

You may also want to:

• Consider whether you might want to issue sales orders for stock with confirmed or unconfirmed value.
• Understand the difference between confirmed and unconfirmed value

  Confirmed stock items are where the cost of an item is already known and recorded. This occurs when:

  • Stock items have been bought and the supplier's invoice recorded in Sage 200.
  • Stock items have been returned to a supplier and the credit note processed in Sage 200.
  • Stock items have been added in Sage 200 at a specified cost.
  • Bill of Materials items have been built and added to stock.
  • A works order has been entered (using Sage 200 Manufacturing) and the manufacturing cost is known as all the stock issued to the works order was confirmed.

  Unconfirmed stock items are where goods have been received, but the actual cost is not known. This occurs when:

  • Stock items from purchase orders have been entered as received, but the supplier's invoice has not been processed in Sage 200.
  • Stock items from purchase returns have been entered as despatched, but the credit note has not been processed in Sage 200.
  • Where the manufacturing process is finished (using Sage 200 Manufacturing) but not all the costs are known, as some unconfirmed stock has been issued to the works order.

  If you do not want to have unconfirmed stock you must select Allow prices to be updated when goods are received in POP Settings | Order Processing. Then ensure that the Update prices when goods are received setting is selected on all purchase order lines. This will update the stock system when the goods are received with the price from the purchase order and the stock will be confirmed immediately. When the purchase invoice is recorded, if the price is different to the order price, the difference is posted to the Nominal Ledger account specified in the POP Settings. The value of the stock is not changed.

• If you have selected Generate cost of sales postings for SOP in Stock Control Settings | Options, specify when and how you want to update the stock module for goods that are despatched through SOP orders.

This depends on how you want to control the postings to the nominal for the Cost of Sales and is controlled through your selection of Update stock quantities when in SOP Settings | Order Processing. You can either update the stock module as soon as despatch is confirmed in SOP or only when the SOP invoice is posted to the Sales Ledger.

You are now ready to begin day-to-day processing in the Stock Control module.

You must have the correct access rights to use the Stock Control ledger. If you cannot access any of the Stock Control options, contact your company's system administrator.