You get an ‘Out of Stock’ warning message when the stock on hand of a product is lower than the quantity you try to sell.

You can transfer and track the stock of each store with the Multiple Locations plug-in for MoneyWorks accounting software…

Software: MoneyWorks #accounting software What is a product? In MoneyWorks, a product is an item which you buy from the seller and resell it to your customer. If you stock it, it will be treated as an asset and the stock value will be calculated automatically. Assume a stationery shop purchase 100 unit of Pen […]

Software: MoneyWorks accounting software Stock profile: When record a purchase invoice with the stock item A1001, the Stock On Hand account is debited and the Accounts Payable account is being credited. The Cost of goods sold account will not be updated until item A1001 has sold. That is, when you create a Sales Invoice for the […]

Software: QuickBooks accounting software QuickBooks Desktop software is using the average costing method for stock. How it works? Assuming you have 10 units of item A at $10 each. Then, you purchased 10 more units of item A at $8 each. Now, the cost per unit is at $9. 10 units at $10 = $100 […]

Software: MoneyWorks accounting software Assuming you run a hardware shop selling screw, bolt and nut. As a retailer, you will usually buy goods in a box or carton form and repack it into a smaller unit such as bag or packet form. How to record this in MoneyWorks? How does the Unit Conversion works in […]