A stock ledger is a set of records with regards to the stock or inventory of the business. Most businesses have stock which they buy and sell at a profit.
These stocks need to be accounted for to ensure that the company is making profit in order to stay in business. Pilferage and damage must be reduced to as low a level as possible. Hence, the stock ledger is a simple but important recording document.
It is to record the type of stock the business acquires and tracks its flow. The selling and purchase prices of every stock are recorded to compute the profit or loss. The quantity of stock is also recorded to ensure that the company will not lose business due to unavailable stock. This column of information prompts the company to reorder its required stock.
The expiry date of a stock is also registered to ensure that the stock is not sold beyond its expiry date. This information will allow the company to move out stocks nearing their expiry dates quickly while ordering new stock.
A stock ledger helps to identify popular or fast moving stocks and slow moving stocks. This will help the company increase its profits with more fast moving stock.
The stock ledger template may contain:
* Company Name
* Received date / Issue date
* Quantity Order
* Quantity Received
* Quantity Issued
* Batch number
Consider the attached sample template for your convenience.