Track stock (inventory)
Keep count of what you have on hand and what it cost, with bills adding stock and invoices taking it out.
- Track an item
- Opening stock
- Bills add stock
- Sales take it out
Inventory keeps a count of each product you buy and sell, valued at average cost. When you sell, Billbook records the cost of goods sold for you, so your profit is right.
How do I start tracking an item?
- Open the product in SalesProducts & services.
- Tick Track inventory. It's there for things you both buy and sell.
- Choose the Inventory account and Cost of goods sold account, then save.
How do I add the stock I already have?
- Open PurchasesInventory and choose New adjustment.
- Choose Opening stock.
- Enter the quantity and what each one cost you.
- Choose Post adjustment.
After that, approving a bill for the item adds stock, and approving an invoice takes it out.
How do I do a stocktake or write stock off?
Choose New adjustment, then Stocktake to enter what you counted, or Write-off for damaged, lost or used stock. The difference is posted at average cost.
Made a mistake?
Void the adjustment from the Adjustments list. You can't void it once that stock has been sold or used.
Can I keep stock in more than one place?
Yes. Under More for inventory, choose Stock locations and add a warehouse, shop or van. With more than one, use Transfer to move stock between them. Each invoice and bill line can say which location it uses.
Can I build a product from other items?
Yes. Open the product, choose Add components, list what goes into one unit, then build as many as you need.
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