STOCK REGISTERS
The register is a book that contains important information. It has a list of dates, events, or any other information. The register is some official list or record of names or items.
Definitions of stock Register
Stock register may be define as live document or file or software record which is used for maintaining company's stock. It is based upon live updated of addition of incoming stock (purchase) and substraction of issuing stock (sale)
Stock Register in Schools
Stock register keeps information of all the movable property of the School.Head of institution should check this register physically at least once in a year.
The Register should contain the following information,
1. Name of the article
2. Quantity of the articles.
3. Date of purchase
4. Name of the firm which supplied the articles.
5. The authority ordering purchase.
6. Signature of the authority.
How to Maintain Stock Register
Maintaining a stock register involves keeping an accurate and up-to-date record of all the goods or products. Here the basic steps to maintain a stock register.
1.Choose a stock register format -Decide on the format to use for stock register. It can be a manual system with a pen and paper or an electronic system with a Pen and Paper or an electronic system using software like Excel or specialised inventory management software
2. Record all incoming stock -whenever new stock arrives, record the date of receipt, the name of the supplier, the quantity of goods received, and any relevant information about the products.
3.Record all outgoing stock- Whenever stock is sold or otherwise leaves the premises, record the date of the transaction, the name of the customer or recipient the quantity of goods. Sold or transferred, and any other relevant information.
4. Update the stock balance- After each transaction, adjust the stock balance to reflect the new level of stock on hand.
5. Perform regular stock takes – Regularly perform stock takes to ensure that the stock register accurately reflects the actual stock levels
6. Analyse stock movements-Use the stock register to analyse stock movements identify trends and patterns, and make informed decisions about purchasing and sales.
7. Ensure accuracy-Ensures that the stock register is accurate and up-to-date at all times. This will help you to avoid stock shortages, overstocking, and other issues that can affect your business operations.
How to maintain stock Register book manually
A manual stock register can be created using a pen and paper, a notebook or a ledger book.
The format of maintaining manual stock register
1. stock item- List all the items or products that you stock in your business. Each item should have a unique code or number assigned to it for easy identification.
2. Opening Stock- Record the quantity of each item you have in stock at the beginning of the day, week or month.
3. Receipts - Record all the goods received in the inward column of the register. Include the date of receipt, the name of the supplier, the invoice number, and the quantity of goods received.
4. Issues-Record all the goods issued to customer or used for production in the outward column of the register. Include the date of issue, the name of the customer, the invoice number, and the quantity of goods issued.
5 Closing Stock -At the end of the day, week, on month, record the quantity of each item that you have in stock. This will be the opening stock for the next period.
6. Remarks- Include any relevant information, such as stock returns, damages and adjustments, in the remarks column.
Importance of stock Register
1 Inventory Management
2. Maintenance of Regular supply
3. Evaluation of total stock in Hand
4. Calculation of ordered quantity, recorded time, minimum and maximum stock availability.
Features/characteristics of stock Register
•Stock Register keep record of movable Property of school.
•Every year numerous items are purchased by the school such as blackboard, computer system, Sports material etc.
•So it is important to keep a record of the same.
•Which can be checked from time to time.
•Such analysis help to check at what place funds are spend by school.
•It is also checked by management and principal form time to time
•It is also called property Register.
•Principal the Custodian of Register- Principal is the head of the institution. So he/she should take the responsibility of Proper maintenance of registers. Teachers can be allocated responsibility to keep a pooper record Principal can check that record at any time.
•Up to date information-The information in register is kept up to date. If item is purchased on 11th January then entry is made in register on 11 January. This helps to keep the record register up to date.
•Helps in analyses of material Bought - The record helps to keep a track on what items purchased by school. what sort of investment is made by school on movable property.
•Separate stock Register-It may be possible. that the school can maintain separate. register for different items, such as Hems bought for principal office, for classes, for administrative office, for labs. All these information is recorded in separate registers so that analysis become easy.
•Record one year Data-Academic year starts in the month of April and ends in march, so a register should have complete record of one year, old registers should be kept safely for future reference.
•Addition to be made with the permission of Principal -If any new item is purchased than with the permission of principal entry is made in it.
•Verification of Records-It becomes the duty of principal to verify the record from time to time. It really help to keep the record up to date.
•Checking is much simplified if room wise inventories are prepared.
•A duplicate of inventories in each room may be displayed in each room and item added as article.
Types of stock Register in schools
A) Stock Registers in Laboratory
The Stock Registers in laboratory include,
1. Permanent stock Register
2. Breakable stock register.
3.Consumable Stock Register.
• Maintenance of a proper record of the apparatus, materials etc. . in the laboratory is one of the important duties of the Science master. For this after receipt of articles they should be thoroughly checked and then they be entered in the stock register. Separate stock register be maintained for Consumable and non-consumable item, Permanent articles, glass articles etc...
a) Permanent stock Register.
It include all articles which are non- breakable or non Consumable. eg: Test tube racks, wooden stands, microscope, Telescope, spectrometers and working and still models. The list Contains, Date of purchases, Number quantity, Name of company etc.
b) Breakable stock register.
It includes the articles of glass wares. like flasks, Test-tube, Beakers, Pipettes, Burettes, funnels.
c) Consumable stock register
It includes, chemicals, Acids, Alcohols, Distilled water, Potassium permanganate etc.
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| Stock register in laboratory |
B) Stock Registers in first aid
Band- aids, elastic wrap bandages, an aluminium finger splint, instant cold Packs, duct tape, hand sanitizer, a thermometer, and hydrogen Peroxide are just a few of the Supplies every first-aid kit in schools should have.
C) Library stock Register.
Library Stock register, library books can enter into this record and can maintain the how many quantity of books available. The librarian /library coordinator has overall responsibility of stock selection and maintenance. The register helps maintain accountability for library materials by keeping a record of who borrowed what items.
D) Stock Register of School equipment or property Register
•It maintain a record of all the furniture and movable equipment in the school. Whenever an equipment or furniture of a more or less durable type (Permanent in nature) is purchased by the school, it must be entered in the property register.
•It should record details such as name of the article/object, date of purchase and receipt/installation, price, quantity and the name of the sanctioning authority. No entry from this register can be removed with out the sanction of the controlling authorities obtained through an appropriate procedure and their signature. Each room should also contain a list of furniture and equipment kept in it and this list could be parted on the doors or walls of the room.
E) Stock Register of the sports materials
Recording the details about each Sports material is Purchased, date of purchase, Quantity of purchase.
F) Stock Register for school Kitchen
This will ensure that the quantity and Price of the goods shipped match those listed on the order form. The manager will able to plan food orders, calculate food Costs and make menu item changes.
G) Stock Register in computer lab
This register includes the price and quantity of the donated and received Computer And also include, deployment of computer in computer lab, library, staffroom.
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