If you are trading in stock items, you need to create each of your stock item master files in the Edit - Stock Items menu option. These Stock Items are kept in the Stock Ledger and contains specific information for each of your Stock items.

The Stock Items are selected on the Stock Item search facility when you create and edit documents for your debtors (customers) or creditors (suppliers) or when you select the stock items to be included in reports (stock reports, sales analysis and purchase analysis reports). If you process point-of-sale invoices, you may also use the POS Lookup screen to search for Stock Items which you need to add or edit on a POS Invoice.
If you have created a Set of Books, you first need to setup or check the following basic parameters and accounts, before you may continue to create your Stock Items:

1. Edit - Accounts - General Ledger - To create a Cost of Sales Account, a Stock Control account if it does not exist in the template or Set of Books you have selected when creating your Set of Books. If you create Sub-accounts for your Sales Account, you also need to create matching Sub-accounts for the Cost of Sales Account, Stock Control Account.
   
   
2. Edit - Accounts - Tax Accounts - To create any required Tax codes (Input and Output Tax codes) for the Stock Items which you will be trading in.
   
   
3. Edit - Accounts - Debtor - To create a cash customer account or cash sales account if you are going to sell stock items for cash.
   
   
4. Edit - Accounts - Creditor - To create a cash supplier or cash purchases account if you are going to purchase some stock items and pay cash for it.
   
   
5. Setup - System Parameters - Batch Type - To create a Cost of Sales Batch or Journal which will be used to record and post the cost of the sales (average or latest cost depending on your selection on the Setup - System Parameters - Stock Information menu option).
   
   
6. Setup - System Parameters - Documents - Check that the document numbers and the batch types or journals are correct. You may wish to change your document numbers.
   
   
7. Setup - System Parameters - Stock Information - To set the Stock Information and Cost of Sales batch or journal and account and define or rename the descriptions for up to 3 selling prices.
   
   
8. Setup - System Parameters - Salespersons - To add your Salespersons, if you wish to keep track of the persons, who are selling your stock items or point-of-sales cashiers.
   
   
9. Setup - System Parameters - Groups - To create any Stock Groups according to which you may group your stock items.

Once the settings are correct, you may proceed to create your Stock Items master files on the Edit - Stock Items menu option. It is very important that the information you enter or select when you create or edit stock items are absolutely correct since this information and settings will have a definite effect on the accounts and figures when you process documents in the Input - Documents menu option. This information and settings will determine the gross profit and subsequently the net profit when you process documents.

Once your stock items master files are created and correct, you may start to process documents. Before you may start to process Invoices, you need to:-

1. Take-on the opening quantities and cost prices for the Stock Items on the Input - Adjust Stock (Take-on tab) menu option, if you have accounting records from your previous accounting system and / or
   
   
2. Purchase Documents needs to be posted or updated to the Ledger in the Input - Update Ledger menu option.

This will ensure that the Stock Item master files are updated with the correct values (quantities and cost prices) and that when Invoices are processed, the correct cost prices (average or latest cost) will be used for the Cost of Sales Journal.

To check the details of your stock items, you need to generate stock reports in the Reports - Stock menu option.

If you are processing documents, the documents will update the Stock Item master files as follows:

1. Purchases - Increase the quantities at hand, the total cost, cost price (average or latest cost - depending on your settings and selection on the Setup System Parameters - Stock Information menu option). When you post or update the purchase document to the ledger, it will automatically write up the Purchase Journal.
   
   
2. Stock or Goods Returned documents -The Stock Information will be updated exactly the opposite than the Purchase Documents. When you post or update the Stock or Goods Returned document to the ledger, it will automatically write up the Purchase Journal or any other Purchase Returns or Creditor Allowances Journal.
   
   
3. Invoices - If you select a stock item, you need to enter the quantities and select the selling prices (selling price 1/2/3) will be used. TurboCASH will automatically calculate the invoice total (selling price multiplied by the quantities). It will decrease the quantities at hand, use the cost of sales (average or latest cost depending on your settings and selection on the Setup - System Parameters - Stock Information menu option).
   
   If you have specified to Apply Invoice Discount on the Stock Item master file and have entered a percentage on the Edit - Accounts - Debtor (Accounting Information tab) menu option, the percentage discount will be displayed and automatically be deducted from the selected selling price.
   
   When you post or update the Invoice document to the ledger, it will automatically write up the Sales Journal for the selling prices. It will also use the cost prices and write up the Cost of Sales Journal for the cost prices (average or latest cost) you have selected when you have set the Cost of Sales parameters in the Setup - System Parameters - Stock Information menu option.
   
   
4. Credit Notes - The Stock Information will be updated exactly the opposite than the Invoice. When you post or update the Credit Note to the ledger, it will automatically write up the sales journal and the cost of sales journal with transactions to reverse those created by the invoice.
   
   The details of the selected stock items will be used to calculate the selling price, cost prices on documents according to the quantities specified and will be displayed be displayed on documents and in reports.
   
   In addition to the Stock Take-on, TurboCASH also allows you to do the following adjustments for stock items on the Input - Adjust Stock menu option:
   1. Average and Latest Cost
      
      
   2. Quantities and Average Cost
      
      
   3. Quantities and Latest Cost
      
      
   4. Selling Prices

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If you have converted a Set of Books from a previous version of TurboCASH or Pastel version 5.2, your Stock Item master files will be automatically converted.

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Before you may start to process Point-of-Sale Invoices, you also need to create and edit the Stock Item master files. You need to enter barcodes on your stock item master files if you are going to use barcode scanners.