Post Raw Materials Stock Adjustment figures, if you use Focus to manage your raw materials purchases and usage

If you use Focus to manage your raw materials purchases and usage, then as part of your year end activities, your may want to account for adjustments in the Raw Materials Stock quantities by entering direct Job Cost transactions as follows.

1. Go to Publishing > Job Costing > Direct Transactions
2. Select a stock code
3. Select a PRINTING cost code e.g. RMPL
4. Edit the Details appropriately e.g. Year End Stock Adjustment YYYY/YY
5. Enter the quantity
6. Enter amount
7. Click the Save button to finish

Import Stock-take figures

To import stock take values from an external comma separated values (csv) file,

1. Prepare COMMA-SEPARATED (CSV) files for Raw Materials and Finished Goods per location, such that column A contains the Stock Code/ISBN and column B contains the stock take quantities, without the column header line.
2. Go to Accounts > Stock Ledger > Stock Take > Electronically
3. Then follow the instructions

Post Stock Valuation to nominal ledger

Depending on the formula you choose to base the Cost of sales, we provide Stock Valuation reports to enable you post the appropriate journals to nominal. In general there are two widely accepted Cost-of-sales formulas

1. Cost of sales = Opening Stock + Purchases – Closing Stock
2. Cost of sales = Unit Cost * Quantity

Note: If Cost of sales is based on the formula: Opening Stock + Purchases – Closing Stock, then

• At the beginning of the year, the balance sheet Stock account is credited while the PL Opening Stock account is debited with the stock valuation
• During the year/period, purchase invoices credit the Creditor control account and debit purchases in ‘cost of sales’ group of accounts
• At year-end/period-end, the Closing Stock account is credited while the Stock account is debited.
• On the Profit and Loss account statement, Focus presents the cost of sales at run time on the basis of the formula: Cost of sales = Opening Stock + Purchases – Closing Stock

Archive Report: Stock, Customer, Rep and Supplier Schedules and the Aged Debtors Analysis

Print the following real-time reports to PDF or hardcopy, then put away for reference.

1. Stock Schedules
2. Customer Schedules
3. Rep Schedules
4. Supplier Schedules
5. Aged Debtors Analysis report