Stock

Overview

The stock module is an optional module, designed to track stock transactions and costs, rather than handling operational tasks. Stock items are linked to specific Locations, with each transaction tied to a corresponding Location. Items can be organised and managed using groups, subgroups, categories, and subcategories.

User document: Stock

Module setup is required before use.
Approval is not required for stock movements.
A stock item cannot be deleted, but can be set as inactive.
Once a stock item is entered, the system will automatically update its quantity and its average cost based on its transactions.
The negative quantity can be enabled in the control parameter.

Actions

The table below lists stock functions:

Function name	Description

Function name	Description
Stock list	Display a list of stock items
Stock transactions	Display all stock transactions, including the name, location, job, period, time, rate, cost, type, quantity, and batch number. This is an auto-generated list and cannot be modified.
Stock issues	Record the stock release and the cost for jobs. Work as a batch.
Stock Transfer	Record stock movement or relocation from one location to another. Work as a batch.
Stock Return	Record the stock return to a stock location. Work as a batch.
Stock Adjustments	Manually update the quantity of stock items when there is a discrepancy between the calculated stock and actual on-hand stock. Work as a batch.
Stock Requisitions	Selected stock requests from the Procurement list for job and generate the relevant Stock pick.
Stock pick	Record the actual quantity of stock issued to a job for the corresponding Stock Requisition, along with the picking history.
Stocktake	Generate a snapshot of the stock. This becomes the basis for comparison to actual stock counted and generates the adjustment when needed.
Stock Costing	Use for stock valuation. It comes with the ability to choose from 3 different costing methods.

Common cases and scenarios:

Tasks	Actions / feature	Person

Tasks	Actions / feature	Person
List stock items Displaying current stock items, including their details and statuses.	The Stock list screen displays all stock items, including their cost, rate, and quantities across all available locations.	Stock Aministrator or authorised person.
Add new stock item Adding new items to the inventory system with relevant details like description, category, location, etc.	New stock items can be added to the system through the Stock List screen or by importing Guide. Note that the quantity of a stock item cannot be entered directly. To update the quantity, you must do so via Stock Adjustment. Guide
Edit stock item details Updating stock item details.	Stock item details can be modified via its details screen. Guide.
Stock Quantity Update Modify the quantity of stock items as needed for corrections, audits, or adjustments.	The stock level is automatically calculated and updated by the system. To change the quantity of a stock item, the authorised person needs to use Stock Adjustment. Guide
Stock adjustment Adjusting inventory levels manually for reasons such as damages, losses, returns, or inaccuracies identified during audits.	Manually update the quantity of stock items.
Remove stock item from the system Deleting or writing off stock items that are obsolete, expired, or damaged beyond use.	In Workbench, a stock item cannot be deleted. It can be set as inactive instead.
Release stock from warehouse Removing stock from inventory, whether for usage, transfer, or delivery to another location or job site	Stock issues are used to record the release of stock for a job, while Stock Transfer and Stock Return are used for relocating or returning stock.
Stock write-off Writing off stock that is no longer usable due to damage, expiration, or obsolescence.	These stock items can be marked as inactive.
Inventory count Verifying and adjusting stock levels by counting the actual inventory on hand.	Workbench does not cover the inventory operations tasks but the Stocktake can be used to make a snapshot which can be used for comparing it to the inventory counted and adjusting discrepancies.

Tasks	Actions	Person

Tasks	Actions	Person
Transfer stock to another location/warehouse Moving stock between different warehouse locations for logistical or operational purposes.	Stock Transfers are performed when you need to move stock from one Stock Location to another. This is achieved by creating a batch in the desired period, and then adding transfer lines to that batch. Guide	Stock Aministrator or authorised person.
Transfer stock to job sites Record stock moving from to job.	Stock issue is used for stock movement for jobs. It works as a batch where you can list many items movement inside as lines. Guide
Goods receiving Recording the arrival of ordered goods into the warehouse.	Inward Goods function can be used to record the delivery goods against previously created Purchase Orders. This does not involve the cost of items, simply the quantities ordered and delivered.
Return stock to inventory Returning unused or rejected stock items back into the warehouse for re-allocation or resale.	Stock Return Batch is the tool to reverse or return Stock back to a Stock Location. It will create a negative entry against the selected Job(s). Guide
View list of transactions Display all stock transactions for management	The Stock Transactions.

Tasks	Actions	Person

Tasks	Actions	Person
Request stocks from inventory Initiating a request for stock items needed for a project or job.	In Workbench, all stock required for a job should be added to the job's Procurement list, where they can be converted into Stock Requisitions along with the Stock pick record. Ensure that the 'Location' column is configured to display on screen.	Stock Aministrator or authorised person.
View list of stock resquitisions	Stock Requisition screen list all approved stock requisition with the pickup details.
Stock pick recording Record the actual release quanity of the stock items for job for Stock Requisitions.	This is used to record the picked quantity and the picking history. Additionally, a Stock Issue can be generated by the picking action, which will appear in the Stock Transactions
Allocated stock for jobs Mark pre-define and on -demand stocks that will be used for job checking the required time and logistic arrangement.	In Workbench, any stocks that needed for a job can be included in its procurement list. .

Tasks	Actions	Person

Tasks	Actions	Person
Stock purchase requesting Generating a request to purchase new stock from suppliers based on demand or replenishment needs.	A Purchase Order can be generated by the Stock Admin when stock needs to be purchased, and this is a separate process from stock management.	Stock Administrator Procurement person.
Stock purchase approval Authorising a purchase request before it is sent to suppliers, ensuring budgetary and operational compliance.	This is followed the Purchase Order process with the corresponding approval setting.	Assgined approvers.
Goods receiving Recording the arrival of ordered goods into the warehouse inventory system.	Inward Goods function can be used to record the delivery goods against previously created Purchase Orders. This does not involve the cost of items, simply the quantities ordered and delivered.	Stock Administrator Authorised person
Goods receiving inspection Inspecting goods upon arrival to check for quality, quantity, and compliance with purchase orders before they are officially accepted.	The status of receiving goods can be put in the Inward goods.	Stock Administrator Authorised person
Record receiving goods into stock Update the receiving goods into the stock list with details	The system will automatically update the received goods into stock database following the records in Inward Goods

A stocktake follows these steps:

Generate a snapshot of the stock location with system-calculated quantities.
Compare it with the actual stock count, conducted separately from the system.
Generate adjustments to update stock quantities for any discrepancies.
Print the desired report when needed.

Refer to the topic https://webwbdoc.atlassian.net/wiki/pages/resumedraft.action?draftId=3270737959&draftShareId=dc5a9460-38b0-4eac-9401-172abd2cf125 for detailed guideline.

Tasks	Actions	Person

Tasks	Actions	Person
Launching a stocktake Generating a stocktake for the current status of stock locations.	Create a new stocktake for desired location. Guide	Stock Administrator.
Stock Count Comparison Compare the stocktake with the actual stock count to identify any discrepancies and make adjustments as needed.	Input the actual count into the corresponding stoketake.
Add stock items into the stocktake snapshot Manuall add new stock items that were not available in the location before to do the stocktake.	Use the Append lines in Stocktake screen
Do the adjustment to fix the stock discrepancies	Use the feature Adjustment in the Stocktake to update the stock quantiy.

Tasks	Actions	Person

Tasks

Actions

Person

Costing method

Select the preferred stock costing method

Refer to the Stock costing page

Stock Aministrator
Audit person with permission.

Stock costing
Assigning or updating the cost of stock items in the system based on various costing methods (Standard, Last cost and Period Average).

Refer to the Stock costing page

Stock costing report
Generating reports to review stock costs, valuation, and pricing trends over a defined period.

Refer to the Stock costing page

Tasks	Actions	Person

Tasks	Actions	Person
Stock list report Generate a Stock list detailed report	A report of Stock items and descriptions with quantity on order and on Hand, and Value On Hand can be generated via the Stock list report in the Stock Report screen.	Stock Aministrator or authorised person.

Relations

Inputs	Outputs	Related

Inputs	Outputs	Related
Stock setup	Report Batches	Control parameters Permission

Questions & Answers

The Stock module is designed to manage the requisition, purchase, tracking, and issuing of stock items across multiple locations for stock-costing purpose.

Yes, inventory control can be applied by location, allowing items to be managed for inventory out of one location but not another.

Stock value is reflected in local currency, but purchasing can be done in foreign currencies. The conversion to local currency is handled within the Purchasing Module.

The available methods for stock costing are Standard, Period Average, and Last Costing.