The option allows you to define the units of stock you sell and the selling price descriptions as well as the units in which you sell your service items and to set your Cost of Sales parameters. This information will be required when you create physical stock items.

The Stock Information should be set if you trade in physical stock items and if you wish to sell items on a Point-of-Sale system. If you are a Service industry and wish to invoice services, you need to set up a Service Stock Item. You will be able to generate documents such as invoices, credit notes, quotes, orders, purchases and supplier returns.

If you do not intend to use documents, or stock or a "dummy stock item" if you are not controlling stock, but do not wish to generate documents do not set your stock information up.

To Setup Stock Information:
Click on the Setup - System Parameters - Stock Information menu option or press the and and and keys on your keyboard. The Stock Information screen will be displayed.



If there is any Units of Stock, which you will not be using, select the description and click on the Delete button.

	Units of Stock	Check the units in which your stock items are to be sold. To add any unit descriptions - Type in a description in the Units of Stock field and click on the Add button. To delete any unit descriptions - Select the description in the Units of Stock field and click on the Delete button.
	Selling Prices	TurboCASH allows you to define up to 3 descriptions for your selling prices. You may change the descriptions by typing your own descriptions in these fields.

Select the Create Cost of Sales field in the Use Cost of Sales section of the Stock Information screen if you wish to report on the gross profit for your stock items. If you select this field, the Cost of Sales area of the Stock Information screen will change to enable you to select the Cost of Sales account and to set the parameters for Cost of Sales.


Select the Cost of Sales Account, on the Accounts and the account number will be displayed in the Cost of Sales Account field.
Select to use Average Cost or Latest Cost. The method you choose is very important as it will influence your gross profit and consequently the net profit or loss. The method, you choose are entirely up to you - consult with your accountant as to which method you should use.
Click on the button to save the settings and to exit or close this screen.

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TurboCASH includes the Cost of Sales in most Charts of Accounts (templates). If you do not find the Cost of Sales Account in the Accounts search facility (the list of your General Ledger Accounts), you may have to exit or close this Stock Information screen and first create the Cost of Sales Account on the Edit - Accounts - General Ledger menu option.