PLUTUSTechnologies

Inventory

Stock that reconciles to the ledger.

Purchase orders to stocktakes, with lots and expiry, reorder suggestions and every warehouse in one place. Stock is valued at weighted-average cost and checked against the general ledger.

How stock moves

Every document posts its journal.

Each receipt, issue, transfer and adjustment writes a stock movement and posts to the general ledger, so the stock report and the balance sheet tell the same story.

  1. Purchase orderPrice, discount and tax per line. Submitted, approved and issued to the vendor, or closed short when the balance will not arrive.Posts:Nothing yet: an order is a commitment, not a transaction
  2. Goods receiptReceived against an issued order and prefilled with what is outstanding. Rejected quantities need a reason; lots and expiry dates are recorded.Posts:Stock into inventory, accrued to goods received not invoiced
  3. Vendor billLinked to the unbilled receipt it invoices, then approved.Posts:Clears the accrual and posts any price difference
  4. Stock issueRequested by stores or by a department manager for their department, approved, then posted.Posts:Out of inventory, to the category's expense account
  5. Stock transferDispatched into transit and received line by line at the other warehouse. A shortfall needs a reason.Posts:Through stock in transit; shortfalls are written off
  6. Adjustment and stocktakeCounted against a snapshot. Write-offs, and gains above the limit you set, go for approval before they post.Posts:Gains and losses, once approved
Ledger check · Sample dataReconciled
  • Stock value
    Inventory valuation report₦18,742,500
    Inventory account (GL)₦18,742,500
    Difference₦0
  • Unbilled receipts
    Goods receipts not yet billed₦2,310,000
    Goods received not invoiced (GL)₦2,310,000
    Difference₦0

Stock is valued at weighted-average cost: one average per item across all warehouses.

  • Items with unit conversions
  • Warehouses and stock on hand
  • Lot and expiry tracking
  • Stock movement ledger
  • Reorder suggestions
  • Count and variance sheets
  • Valuation report with GL check
  • Expiring stock report
  • CSV and PDF exports
  • Approval workflows
  • Department stock requests
  • Accounting lock date