What is stock card? Stock card is a paper or card or book which use to record all the ‘IN’ and ‘OUT’ from a warehouse, it will show the clear record of the stock in warehouse at anytime.
The stock card been use normally by small company, small and medium factory.
‘IN’ is for all the incoming of items either from suppliers, from production for excess materials, balance in production , from QA, and from any department who bring the items to warehouse.
‘OUT’ is for the out from warehouse which included return to suppliers, issue to production, issue to any department, excess request by production, scrap due to damage or management instruction.
Basically, IN is for all IN warehouse for that item, and OUT is for any quantity which OUT from warehouse.
Simple format of the Stock Card as Below:
Date Document No Open IN OUT Bal Remarks
Open means the stock balance before any quantity IN or OUT from warehouse.
Balance means the balance stock after the IN or OUT
Balance = Open + IN ( if Open 10 and receive 10), then the balance is
- + 10 = 20
The balance will then transfer to become the Open of next line
In order to ensure the accuracy of stock card ( means the stock balance same as actual balance):
- All IN documents must be recorded
- All OUT documents must be recorded
- All IN and OUT must have documents and must be proper control and filed.
The same concept been used for big company and factory , the different is they use computerize system such as MRP( Materials Resources Planning) and ERP( Enterprise Resources Planning). The basic calculation for the ‘OPEN’ , “IN”, ‘OUT” and “BAL” is the same as manual, the different is each data will be input in the system/ computer by each individual, and the system will make the calculation to show the balance.
This is a very important documents for warehosue staff to update, the staff who incharge to undate the documents must be very responsible and always check and confirm all the ‘IN” and ‘OUT” entry is correct and no mistake happen. this checking is very important as any simple mistake will make the whole record error and not tally.