Sage and stock control

I'm looking for some advice please.

I will say at the outset that my knowledge of how Sage processes stock is minimal.

I have a client who used Sage 50 Professional 2011.

They keep stock records (have aproximately 1000 stock codes), and the software is set so that it allows stock to go negative.

The basics of the business is that a sales order will be processed, and the stock will go negative. A purchase order will be raised to order the stock. The stock will come in and the purchase order processed to become positive. The stock will go out and the sales invoice raised, so the stock level goes back to zero.

On some items there is actual physical stock held, on others the items are 'special order' so no stock held.

The problem is that the client says that when they do a stocktake the physical stock rarely agrees with the Sage stock figure, so they have no confidence in the Sage figure.

Any ideas why?

My initial thoughts are that they are probably checking physical stock against the wrong stock report or something. Sage will presumably have a number of different stock reports available, but I imagine most of them won't get loaded with the software by default - am I correct thinking this? If so can anyone advise how to access the correct reports?

NEXT QUESTION:

Am I right in thinking that integration of the stock figure with the Nominal Ledger is by journal, and that the stock module is in effect stand alone from the Nominal and other accounts module, and integrated by journal only?

If this is correct, is the 'good practice' suggested procedure set out somewhere please?

Thanks for any advice. 

 

Comments

Stock Control

johndon68 | | Permalink

"My initial thoughts are that they are probably checking physical stock against the wrong stock report or something. Sage will presumably have a number of different stock reports available, but I imagine most of them won't get loaded with the software by default - am I correct thinking this? If so can anyone advise how to access the correct reports?"

Sage installs all of it's reports by default so there is nothing extra to install.  Difficult to say why they are getting differences without knowing that they are comparing the real figures to in Sage...

 

"Am I right in thinking that integration of the stock figure with the Nominal Ledger is by journal, and that the stock module is in effect stand alone from the Nominal and other accounts module, and integrated by journal only?"

You are correct, there is no integration between stock control and the nominal ledger so you need, generally on a monthly basis, to post opening and closing stock journals.  There is a wizard in the software (Modules -> Wizards -> Open Closing Stock) to help with this and the process is fully documented in the Help File.

John

Check the individual stock movements

David Carter | | Permalink

Where a stocktake figure disagrees with the physical stocktake, they should list the "Activity" for that item on Sage (i.e. the indivdual Goods In and Goods out transactions).

This movement history should help them work out where sage is going wrong (if it is.)

 

 

Hi 

sarah douglas | | Permalink

Hi 

This can be caused by clearing down  the stock audit trail which a lot of people do at the same time as year end.

This has been know to throw out the stock reports.  

You can override the figure in the stock and enter the correct figure .  If the issue continues then I suggest it is the way it is set up.

You should have the system set up that it can not do an order or update it if there is no stock available , but the reports tell you so many stock items are needed. 

 

Kind regards. Sarah Douglas Douglas Accountancy and Bookkeeping Services, Glasgow

 

 

 

Sage 50 - Correcting Product Stock Record Balances

Alison2105 | | Permalink

Hi

I really need help correcting product stock record balances in Sage 50. I have spent hours in practice mode trying to correct one record with no luck. I need it to total £1k but Sage seems to be using different cost prices each time to the one stated in the record so I can never correct it exactly. I'm sure this is to do with LIFO but do not know how to resolve this. The Accountant uses a different version of Sage and completed last years accounts which were in a mess. I've since taken on this years accounts, which are also in a mess, and have posted opening balances. Stock in the NL is therefore correct, however I would like the product stock records to be correct and reflect actual stock.

If you or anyone knows how to do this it would be very much appreciated. 

Kind regards

Alison

 

 

Stock open and closing balance and Vat

Roydd | | Permalink

Hi

I notice in the Sage Stock opening closing wizard that the tax code which I can't seem to alter is T1.ie VAT at 20%  is added to the stock value on transfer.   I thought stock should be Ex-vat?

Any thoughts on this.anyone.

I'm thinking  I'm going to have to do my own journal and ignore the wizard otherwise I will have extra items on my vat return that I will then have to correct manually

Roy    

opening closing stock wizard sage

Roydd | | Permalink

First look: Sage 50 Accounts 2014 ‘VAT edition’

Sorry, to answer my own question, have now come across that above and can see that the Sage wizard now shows the opening/closing stock as T9 - ie non-vat item.  Pity it's not like that inn my version! Professional 2011!

Roy

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