Stock - Managing Stock on Hand

WorkGuru's stock control is the FIFO perpetual method. This means that WorkGuru will track the value of each item in the inventory at the landed cost of the transaction it was brought into stock on hand. Consequently, the cost of goods sold (COGS) when FIFO products are used on projects and production jobs or dispatched on the stock sale are the exact value of the landed cost of the oldest transaction in the products history.

The stock dashboard in WorkGuru lets you review the stock on hand status and history all your products that have been set as FIFO. Open the stock dashboard from the WorkGuru menu: Stock -> Stock. By default, the dashboard will only display Sku's that currently have stock on hand, if you need to see all FIFO products, click Show items with no stock. You can search for sku and product name and refine the results by status using the Active, Inactive and All tabs.  

The dashboard will display the following:

• Sku - FIFO product stock keeping unit/code
• Name - Product name.
• Stock on Hand - Current stock on hand, with counts displayed by warehouse if it is in multiple locations.
• Incoming - Quantity of SKU currently on a draft or open stock purchase order.
• Description - Product description.
• Supplier - Default supplier.
• Default Cost Price - Default supplier unit price (does not include landed costs).
• Default Sell Price - Default sell price.
• Value - Current total stock on hand value of Sku of all warehouses. If you need an average unit cost, you can divide this figure by the total SOH of all warehouses.

If you have multiple warehouses and a product has stock on hand in more than one warehouse, it will display in the Stock on Hand (by Warehouse) column.

To view the full transaction history of a FIFO product, click See Stock Movements. This will display all transactions and the value moved in and out of that SKU in chronological order.   

Functionality available on the stock movement history dashboard:

• Search - Search for the transaction number/sourcemodule.
• SourceModule - Clicking on the transaction in the sourcemodule column will display the transaction details page.
• Product Details - Opens the production details page for review or editing etc
• Recost Stock Usage - Force a recost of all transactions in the movement history with the FIFO values.

The transaction that moved the stock in and out can be opened by clicking on the link in the source module column.

Transactions that move stock in are:

• Stock purchase orders
• Credit notes with stock returns
• Stock adjustments
• Stocktakes

Transactions that move stock out are:

• Projects
• Production jobs
• Stock sales
• Supplier credit notes with stock returns.
• Stock adjustments
• Stocktakes