Stock Management (Desktop App)

The original transaction will take place on the Debtors when an Invoice is done with stock line items on. This we call the Detail Ledgers. The transactions will be posted through the Debtors invoice to the correct ledger accounts on the Income statement and Balance sheet.

The Ledger accounts that are applicable when doing a sale (Debtors invoice):

• The debtor's control account (CAS1)
  
• The VAT control account (CLI2)
  
• The income account (INC2 and INC3)
  
• The cost of sale account (EXP1)
  
• The stock control account (CAS2)

The transaction takes place on the detailed ledger but then adds up to the main ledgers mentioned above.

Example of a stock sale

Transactions details

6. Normal Sales without a Markup, The patient received a Syringe 3ML and Voltaren 25MG 20 tablets. The items are sold according to the NAP (Net acquisition price).

7. Sales with a 30% markup, The patient received Panado 500MG 20 Tablets and 20 Voltaren 25MG tablets. The amount the stock is sold for is the last purchase price plus 30% markup and VAT.

The Practice is registered for VAT, all the sale transactions will have VAT applicable.

Calculation of the Sales Price on Panado 500MG Tablets:

The detail ledgers involved in the sale of the stock

The detail level adds up to the main ledger accounts