This screen is displayed by clicking Stock in the EasyBooks sidebar. The screen lists each stock item you offer, the current value of the stock, and the sales and purchases you have made.
From this screen, you can enter stock sales and purchases, and any payments you have made or received. When you enter a sale or purchase, you can choose an existing customer or supplier if the amount owed is to be paid at a later date (usually on submission of an invoice). Alternatively, you can choose a bank, credit card or other account for cases where the amount is paid immediately at the time of the transaction.
The screen lists all your stock items, grouped by the asset account that they are are linked to.
You can click All Stock Transactions to list all transactions, or a specific stock item to list only those transactions that are applicable to the stock item.
Before using this screen, make sure that you have at least one stock item defined.
A stock item is a product you sell on a per-unit basis that has an associated direct cost and asset value.
In addition to the above, you can:
When you purchase stock items, EasyBooks:
Increases the amount in the asset account by the value of the purchase.
Leaves the income and expense accounts unchanged.
When you sell stock items, EasyBooks:
Increases the income account by the sale price.
Reduces the amount in the asset account by the average purchase cost of the remaining items, and transfers the same amount to the expense account. EasyBooks automatically creates an additional transaction to transfer the amount from the asset account to the expense account.
For example, if you purchase 20 items for £1.00 each, the asset account increases by £20.00. If you sell 2 items for £6.00, the income account increases by £6.00, the asset account reduces by £2.00, and the expense account increases by £2.00. For the sale, you will see two transactions - one to add the sale to your income account, and one to transfer £2.00 from the asset to expense account.
Customers screen (sales that relate to a specific customer).
Sales screen (all sales).
Services screen (all sales that relate to services).
Stock screen (all sales that relate to stock items).
Accounts screen (all accounts).
Payments (from customers): In the context of customers, a payment is an amount of money received from a customer. When you enter a payment, you specify the account (normally a bank account) in which you will receive the income. This allows you to check the payments against, for example, the statements your bank sends you (a feature of double-entry bookkeeping).
A payment reduces the amount the customer owes and increases the balance of the account in which it is received, which in turn affect items such as the Balance Sheet, Trial Balance, Customer Aged Debt and any adjustments for the cash-based VAT scheme. A payment does not further affect your sales income and therefore other related items such as the Profit and Loss report.
Credits (to customers): A credit decreases the amount a customer owes and your income. It has the reverse effect to a sale.
For details of how to carry out tasks in the Stock screen, please refer to: