Introduction
Welcome to your comprehensive guide on Stock Entry in Empress, a pivotal feature that allows you to effectively document and manage the flow of items between different warehouses. This guide will guide you through the user interface, demonstrating how to view, edit, sort, and track information. Let’s dive in!
Introduction to Stock Entry
Stock Entry is a component of Empress designed to streamline your business operations. It offers a structured method for recording the movement of stock, whether that be an issue, receipt, transfer or manufacture of materials, repacking of original items, or sending items for subcontracting.
Accessing the Stock Entry Feature
To access the Stock Entry feature, follow this path:
Home > Stock > Stock Transactions > Stock Entry
The Many Uses of Stock Entry
Stock Entry can be used in a variety of ways, including:
- Material Issue: If you are issuing materials to someone either within or outside of the company, this function deducts the items from the warehouse set under Source Warehouse.
- Material Receipt: Add items to the warehouse set under Target Warehouse when materials are being received.
- Material Transfer: Move materials from one internal warehouse to another.
- Material Transfer for Manufacturing: Transfer raw materials for manufacturing against a Work Order or a Job Card.
- Material Consumption for Manufacture: Use this for multiple consumption stock entries against a manufacturing Work Order.
- Manufacture: Record receipt of material from a Manufacturing/Production Operation.
- Repack: Repack original items into new items.
- Send to Subcontractor: Issue material for a subcontract activity via a Purchase Order.
The Basics: Creating a Stock Entry
Before creating a Stock Entry, ensure you have already created a Warehouse and an Item in the system.
To create a new Stock Entry:
- Navigate to the Stock Entry list and click on New.
- Choose the appropriate Stock Entry Purpose.
- The system will automatically fill in the Default Source or Target Warehouses if these have been set.
- Depending on the Stock Entry Purpose you’ve chosen, you’ll see Source/Target Warehouses.
- Choose the Items and input the quantity.
- The basic rate will be automatically filled in, and the total amount will be calculated.
- Click Save and Submit.
Remember: both “Source Warehouse” and “Target Warehouse” are typically set for recording a movement.
Additional Options in Stock Entry Creation
- Work Order: For Manufacturing entries, the Work Order will be displayed in this field.
- Edit Posting Date and Time: Change the date and time of the Stock Entry.
- Inspection Required: Check this if a Quality Inspection is needed before submitting the Stock Entry.
- From BOM: For Manufacturing entries, the associated Bill of Materials (BOM) for the manufactured item will be displayed.
Noteworthy Stock Entry Features
- Items Table: Displays details about the item, rate, quantity, etc.
- Scrap and Process Loss: Account for scrap items and process loss during manufacturing.
- Additional Costs: Add related costs like shipping charges, customs duty, operating costs, etc.
- Accounting Dimensions: Tag different transactions based on various dimensions.
- Printing Settings: Customize the print settings of the document according to your needs.
- More Information: Includes additional details about the item, such as remarks or total amount transferred.
Post-Submission of Stock Entry
Once a Stock Entry is submitted, you can access the stock ledger or the accounting ledger from the dashboard.
Transferring Materials with ‘Add to Transit’
The “Add to Transit” option is used when transferring materials from one warehouse to another, creating two separate entries for the transfer.
Conclusion
The Stock Entry feature in Empress significantly enhances your business processes by making the management of warehouse activities simple, efficient, and traceable. For more in-depth information on the Stock Entry process, check out related topics such as Stock Entry Purpose, Stock Reconciliation, Opening Stock Balance Entry For Serialized And Batch Item, Work Order, Production Plan, and Job Card. Happy managing!