The myStock Inventory Manager application lets you classify your transactions into different types such as purchase, sales, sales returns, transfer-in, etc.
Generally there are 2 Inventory modes, viz. ‘Stock-in’ and ‘Stock-out’. The transaction types must belong to one of these modes. Like Sales will be a transaction of Stock moving out and purchase that of Stock moving in. When the transactions are entered, the closing stock will be recalculated based on the transaction type which internally represents either a stock-in or a stock-out movement.
The average cost is recalculated based on the input cost. So all the Stock-in transactions must provide the actual unit cost for the product involved. Preferably, this should the final landed cost including additional expenses like Freight charges, Custom duty. The stock-out transactions will use the average unit cost and user will not be allowed to change that. In this way the value of stock in hand can be accurately maintained.
Transaction types are global and once created can be accessed for any Inventory Center.
You can create new types or delete one provided no transactions exist for that type.
New Transaction Type
When creating a transaction type, its Inventory mode must be selected. A transaction type is created by clicking the ‘New’ button. This invokes a pop up window to enter transaction type and select the Inventory mode.
Delete a Transaction Type
To delete a transaction type, the user must select a type. This will be highlighted. The user may then click the ‘Delete’ button to delete the transaction type permanently. Before deleting, the application will make sure that there are no transactions done for this transaction type.
Re-confirm the deletion when prompted.