Enabling Stock Tracking

Enabling Stock Tracking

Stock tracking in EquiBillBook allows you to monitor inventory levels, track stock movements, and maintain accurate inventory records. This guide will help you enable and configure stock tracking for your business.

What is Stock Tracking?

Stock tracking enables EquiBillBook to:

• Automatically update inventory levels when items are sold or purchased
• Track stock movements across different locations
• Generate stock reports and alerts
• Maintain accurate inventory valuation
• Prevent overselling by checking stock availability

Enabling Stock Tracking at Organization Level

To enable stock tracking for your organization:

1. Navigate to Settings → Item Settings
2. Look for Stock Tracking or Enable Stock Tracking option
3. Enable the stock tracking feature
4. Configure stock accounting method (FIFO, LIFO, or Average Cost)
5. Save the settings

Enabling Stock Tracking for Individual Items

You can enable or disable stock tracking for specific items:

1. Go to Items module
2. Open the item you want to configure
3. Look for Enable Stock Tracking or Track Stock checkbox
4. Check the box to enable stock tracking for that item
5. For service items or non-inventory items, you may want to disable stock tracking
6. Save the item

Stock Accounting Methods

When enabling stock tracking, you need to select a stock accounting method:

• FIFO (First-In-First-Out): Assumes the oldest stock is sold first. Best for perishable goods or items with expiry dates.
• LIFO (Last-In-First-Out): Assumes the newest stock is sold first. Used in some accounting scenarios.
• Average Cost: Uses the average cost of all stock. Provides a balanced approach for most businesses.

This method determines how stock costs are calculated when items are sold.

Multi-Branch Stock Tracking

If you have multiple branches or locations:

• Stock tracking can be enabled per branch
• Each branch maintains its own stock levels
• Stock transfers between branches are tracked separately
• Reports can show stock by branch or consolidated view

What Happens When Stock Tracking is Enabled?

Once stock tracking is enabled:

• Stock levels are automatically updated when you create sales invoices
• Stock increases when you record purchase bills
• Stock adjustments are tracked and recorded
• Stock transfers between locations are monitored
• Low stock alerts can be configured
• Stock reports become available

Important Considerations

• Service Items: Disable stock tracking for services or non-inventory items
• Opening Stock: You'll need to enter opening stock balances for existing inventory
• Stock Valuation: Ensure accurate cost prices are entered for proper valuation
• Multi-location: Configure stock tracking for each branch/location separately
• Permissions: Ensure users have appropriate permissions to view and manage stock

Disabling Stock Tracking

If you need to disable stock tracking:

• You can disable it at the item level for specific items
• Disabling at organization level affects all items
• Historical stock data is preserved but not updated
• Consider the impact on reporting and inventory management before disabling

Best Practices

• Enable stock tracking before entering opening stock
• Choose the appropriate accounting method based on your business needs
• Regularly review stock levels and reconcile with physical inventory
• Set up low stock alerts to prevent stockouts
• Train your team on stock tracking processes
• Keep accurate records of stock adjustments

Need Help?

If you encounter issues with stock tracking:

• Verify that stock tracking is enabled in Item Settings
• Check individual item settings to ensure stock tracking is enabled
• Verify user permissions for stock-related operations
• Ensure opening stock has been entered correctly
• Contact support if stock levels are not updating correctly

Stock tracking is a fundamental feature for effective inventory management. Once enabled and properly configured, it helps maintain accurate inventory records and supports better business decision-making.