PPT on Store Purchase & Control

Slides:

Advertisements

Similar presentations

Aims e-Business Applications An Overview of Aims Inventory and Procurement Management Design By: Shaikh Abdul Aziz.

Advertisements

Product Receiving, Storing, and Issuing

Inventory – The Kingpin Chapter 5. Inventory – The concept Inventory includes ‘tangible property’ held for sale in the normal course of business (merchandising)

Hotel Management System SARA Infotech (P) Ltd. Bombay, India.

Stock Recording and Control

Materials. Introduction Inventory in a company includes stock of raw materials, work-in-progress, finished & semi-finished products, spare components.

DOM 511 Inventory Control 2.

 Inventory includes: -stock of raw materials -stock of work in progress -stock of finished goods -stock of spares.

INVENTORY MANAGEMENT CHAPTER 29. LEARNING OBJECTIVES  Highlight the need for and nature of inventory  Explain the techniques of inventory management.

1 Audit Program of Stores & Scrap. 2 Index S. No.ContentsPage No. 1. Objective Receipt & Quality Checks Issues Physical.

Receiving, Storing, and Issuing

Kumar " ". User Login Form Kumar " " Main Form with menu File / Production Planning / Marketing / Service / Invoice / Report.

SAP R/3 Materials Management Module

Inventory and Purchase Orders. 2 Objectives 1. Activate the Inventory function 2. Set up Inventory Items in the Item list 3. Use QuickBooks to calculate.

Procurement to Invoice Jim Boyer Sr. Consultant

SALES ORDER MANAGEMENT SYSTEM. According to the current global status, companies can't waste time sourcing suppliers or waiting for information on the.

© 2003 McGraw-Hill Australia Pty Ltd, PPTs t/a Accounting Information & Reporting Systems by A. Aseervatham and D. Anandarajah. Slides prepared by Kaye.

Management and Cost Accounting, 6 th edition, ISBN © 2004 Colin Drury MANAGEMENT AND COST ACCOUNTING SIXTH EDITION COLIN DRURY.

Receiving: The Process l Inspect delivery and check against P.O. »blind receiving »invoice receiving »electronic receiving l Check against the invoice.

1 Slides used in class may be different from slides in student pack Chapter 17 Inventory Control  Inventory System Defined  Inventory Costs  Independent.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 19-1 Determining the Quantity of Merchandise Inventory.

1 Asset Valuation Inventories (HKSSAP 22) Valuation of Stock.

 SAP AG 2003 Goods Receipts and Goods Issues Stock Transfers Physical Inventory Warehouse Reporting Contents: Inventory Transactions.

3.1 FUNCTIONS OF PURCHASING DEPARTMENT 1. Reduce the investment in stock to the lowest level consistent with operating requirements. The department determines.

Perpetual Inventory System By Denis Perpetual Inventory System Involves keeping current and continuous records of all inventory transactions.

Material Control COST & MANAGEMENT ACCOUNTING. Meaning & Importance Raw Materials, Chemicals, Components, loose tools, implements, maintenance items etc.

Basic Costing Homework Recap. Basic Costing Chapter 4 Inventory Classification & Valuation.

2012.  Activate the Inventory function  Set up Inventory Items in the Item list  Use QuickBooks to calculate the average cost of inventory  Record.

© Costing and Control of Materials.

MATERIAL RESOURCE PLANNING

Inventory Management. Nature of Inventory Stocks of manufactured products and the material that make up the product. Components: –raw materials –work-in-process.

© The McGraw-Hill Companies, Inc., Inventory Control.

Chapter  2003 McGraw-Hill Australia Pty Ltd, PPTs t/a Applications for Financial Accounting by David Willis, slides prepared by Kaye Watson 1 ACCOUNTING.

 Inventory Management module is sub divided into different modules as under ◦ Inventory Requisition ◦ Inventory Order Assessment ◦ Inventory Placing.

 CMS, an integrated easy-to-use software solution, caters the information needs of stone crushing companies. It has two integrated commonly used modules.

CHAPTER 19 ACCOUNTING FOR INVENTORY DETERMINING MERCHANDISE INVENTORY The largest asset of a merchandising business is Merchandise Inventory.

PPTs to accompany Accounting and Bookkeeping Principles and Practice by AAT & David Willis  2011 McGraw-Hill Australia Pty Ltd CHAPTER 12 Maintain inventory.

Receivables Management and Factoring. Nature of Credit Policy Investment in receivable –volume of credit sales –collection period Credit policy –credit.

Chapter 17 Inventory Control

Inventory What is inventory, how is it classified, valued and shown in the manufacturing accounts.

Chapter 22 Accounting for Inventory. Determining the Quantity of Merchandise Inventory Two methods used to determine the quantity of each item of merchandise.

4.5.d STOCK VALUATION (HL) Why value stock? When final accounts are produced, a firm must calculate the value of the stocks it is holding. The value of.

Cost & Revenues - Assessment Criteria

Financial Accounting II Lecture 11. Inventories First in First Out (FIFO) Last in First Out (LIFO) Specific identification of cost Weighted Average Methods.

Financial Accounting 1 Lecture – 16 Recap Stock accounts Purchases account Stock in trade Other manufacturing costs Cost of goods sold Recording of stock.

Cost & Management Accounting Material Costing Lecture-8 Mian Ahmad Farhan (ACA)

HFT 2401 Chapter 10 - Inventory. Inventory  Goods that a firm holds for resale to its guests  As a percentage of total assets, it should be low for.

Lectur-10 Main Ahmad Farhan (ACA)

Inventory Chapter 3. PAGE REF #CHAPTER 3: Inventory SLIDE # 2 2 Objectives Activate the Inventory function Set up Inventory Items in the Item list Set.

 TATA CONSULTANCY SERVICES MM - INVOICE VERIFICATION.

Overview of the Procurement Cycle 4.6fi_22.1 Procurement is a component of the Materials Management module that supports the purchase of materials and.

 TATA CONSULTANCY SERVICES MM - Inventory management.

© 2014 Cengage Learning. All Rights Reserved.

Controlling and Costing Materials

Inventories and the Cost of Goods Sold

Chapter 2: Product Costing – Materials and Labour

PROCEDURE FOR PURCHASING DRUGS

HFT 2401 Chapter 10 Inventory.

ACC 405 –Inventory Management Stock Recording and Control

Financial Accounting II Lecture 12

Inventory Web Innovations 2017.

MATERIALS MEANING OF MATERIAL CONTROL STEPS IN MATERIAL CONTROL

Operation Management

Operation Management

F2 Management Accounting

© 2009 Cengage Learning. All rights reserved.

Accounting for Inventory

Determining the Quantity of Merchandise Inventory

Operations Management

Accounting for Inventory

Presentation transcript:

PPT on Store Purchase & Control

Part of Store :

Store and Purchase Store Control Material Control

Store and Purchase process : Store is holding material for daily and further use Purchase maintain the stock level and fill the daily and further requirement Store and Purchase process :

Comparative Working & Vendor Finalizing Purchase Indent Call of Tender Comparative Working & Vendor Finalizing

Purchase Order and Term Finalization Good Receipt Good Inspection and Quality Control

Deviation Working Order VS Supply Vendor Payment Goods Movement

Purchase Requisition or Indent Description of Articles ABC COM LTD. ….. Delhi. 110001 Location : Purchase Requisition or Indent No. ….. Regular Y/N Date…. Special Date by which materials are required. …. Sr No. Description of Articles Store Code No. QTY Req Remarks Gross Requested By …… Department …… Quotations invited on ….. Vendor Name Other Detail 1 2 3 Other action….. Sing.1 Sing.2

Description of Articles Terms of Delivery and Quality ABC COM LTD. ….. Delhi. 110001 Location : Tender Form Indent No. ….. Tender No …. Dated …. Date …. Sr No. Description of Articles QTY Price Total Terms of Delivery and Quality Terms Gross Sing.1 Sing.2

Comparative Statement of Quotations Indent No. ….. Tender No …. ABC COM LTD. ….. Delhi. 110001 Location : Comparative Statement of Quotations Indent No. ….. Tender No …. Tender Open Dated …. Date… Sr No. Description of Articles QTY Estimated Cost Vendor Cost % on Est Cost Lower Terms of Delivery and Quality Terms Remarks Gross Sing.1 Sing.2

Description of Articles Terms of Delivery and Quality ABC COM LTD. ….. Delhi. 110001 Location : Purchase/Work Order To.. Vendor Name Indent No. ….. Tender No …. Order No …. Dated …. Date …. Sr No. Description of Articles QTY Price Total Terms of Delivery and Quality Remarks Gross Sing.1 Sing.2 Vendor

ABC COM LTD. ….. Delhi. 110001 Location : Good Received Note. Vendor Name Order No …. GRN No. ….. Dated …. Date …. Sr No. Stock Code Description QTY Price Total Remarks Gross Sing.1 Sing.2 Vendor

Good Inspection Report ABC COM LTD. ….. Delhi. 110001 Location : Good Inspection Report Vendor Name Order No …. GRN No. ….. Ins. Report No. .. Dated …. Date. .. Sr No. Stock Code Description Received QTY Accepted QTY Rejected QTY Rejection Reasons Gross Sing.1 Sing.2 Vendor

ABC COM LTD. ….. Delhi. 110001 Location : Deviation Report Vendor Name Order No …. Deviation Report No. … Dated …. Date. … Sr No. Stock Code Description Order QTY Rate Order Amt Received QTY Received Qty Amt Deviation Deviation Reasons Gross Sing.1 Sing.2 Vendor

Store Control mean insure the following point : Store record and accounting Timely purchase Maintain standard level Reorder and Day order Reduce the high investment in stock with smooth business stock Maintain the Bin and Bin Card

Maximum Stock Level Store Control Minimum Stock Level Average Stock Level Order Level Order Day Re-Order Level

Stock Chart

ABC COM LTD. ….. Delhi. 110001 Location : Bin Card Bin Card No…. Bin No….. Bin Item Code… Max Level… Bin Item Name… Min Level… Bin Item AC No…. Order Level… Date Receipt Issue Balance Remarks GRN NO QTY Checking

ABC COM LTD. ….. Delhi. 110001 Location : Store Accounts Bin Card No…. Bin No….. Bin Item Code… Max Level… Bin Item Name… Min Level… Bin Item AC No…. Order Level… Date Receipt Issue Balance Remarks GRN NO QTY Rate Amt

Material control the following activates : Receipt the material Issue the material Purchase return & sales return Inter office issue and receipt Stock verification Stock valuation

Production Unit Production Production Unit Finished Good Material Control Material Receipt Material Issue Balance Material Purchase Sales Reprocess Receipt Sale return Purchase Return Scrap Stock Valuation Stock Verification Inter Office Issue Production Unit Production Inter Office Receipt Production Unit Finished Good Profit & LOSS

Materials/Store Requisition Description of Articles ABC COM LTD. ….. Delhi. 110001 Location : Materials/Store Requisition Department… ….. Req. No Job No Date …. ID NO….. Name….. Sr No. Code No Description of Articles Req QTY Issue QTY Bin Card AC No Remarks Gross Sing.1 Sing.2 Receiver

Purchase Rejection Note Description of Articles ABC COM LTD. ….. Delhi. 110001 Location : Purchase Rejection Note Vendor No. Name ….. Purchase Rej No… GR NO … Date …. Sr No. Code No Description of Articles Rej Qty Rate Amt Remarks Gross Sing.1 Sing.2 Vendor

Description of Articles ABC COM LTD. ….. Delhi. 110001 Location : Sale Rejection Note Cust Name Code ….. Sale Rej No… Bill No… Date …. Date…. Sr No. Code No Description of Articles Rej Qty Rate Amt Remarks Gross Sing.1 Sing.2 Cust

Stock Transfer Note Receipt Description of Articles ABC COM LTD. ….. Delhi. 110001 Location : Stock Transfer Note Receipt Tarf From Dep Br… ….. Trf Note No. Tarf Req No… Date …. Date…. Sr No. Code No Description of Articles QTY Rate Amt Remarks Gross Sing.1 Sing.2

Stock Transfer Note Issue Description of Articles ABC COM LTD. ….. Delhi. 110001 Location : Stock Transfer Note Issue Tarf To Dep Br… ….. Trf Note No. Tarf Req No… Date …. Date…. Sr No. Code No Description of Articles QTY Rate Amt Remarks Gross Sing.1 Sing.2

Method of Material issue and valuation FIFO LIFO Base Price Average Cost Current Standard Price

Parveen Kumar Sharma parveengarh@rediffmail.com 9818580648 Thank You Parveen Kumar Sharma parveengarh@rediffmail.com 9818580648