Sales Stock Control

In any business, managing stock levels efficiently is crucial for smooth operations and accurate financial reporting. HirePOS offers robust features for stock control and inventory management to help businesses keep track of their stock levels effectively. This guide will walk you through the process of managing stock, calculating stock on hand, conducting stocktakes, generating reports, and optimizing inventory control in HirePOS.

To determine the Stock On Hand (Current In Stock) of Sales items in HirePOS, the system considers various factors such as Last Stocktake Quantity, Quantity Sold, Quantity Used on Maintenance Records, Quantity Purchased, Quantity Adjusted, and Branch Transfers. These calculations provide you with an accurate representation of the current stock levels.

Entering the Last Stocktake Date and Quantity for Sales items is essential for accurate stock management. You can input this information either item by item or in bulk via the Sales Stocktake feature in HirePOS.

HirePOS offers comprehensive Stock Control reports for both Hire and Sales stock. These reports can be accessed through the Reports section, providing valuable insights into inventory levels and cost of goods sold.

Calculating the Cost of Sales involves adding beginning inventory to purchases made during a period and subtracting that from the ending inventory. HirePOS utilizes methods like Weighted Average or Market Value for cost calculations, allowing businesses to track inventory costs accurately.

HirePOS allows for customizing report templates to suit specific business requirements. If you have unique formulas for calculating average inventory costs, the system can be tailored to generate reports that align with your needs.

The Stock Movements feature in HirePOS displays the history of sales stock movements since the last stocktake. This tool is invaluable for identifying data entry issues and tracking stock movements for individual items across branches.

By leveraging the stock control and inventory management capabilities of HirePOS, businesses can streamline their operations, maintain accurate stock levels, and make informed decisions based on real-time data.

For more detailed instructions and guidance on managing stock in HirePOS, refer to the official documentation or contact our support team for assistance.