1. U NDERSTANDING S TOCK Course 201607

2. Products Physical items Used internally, or sold Services Items not physically counted Phone, electricity, computer support, classes Fixed Assets Physical items Items used internally, that are not consumables

4. Internally used stock Is this item going to be used up? or Is it a Fixed Asset?

5. Depreciable? No – Expense it Yes – put it to the fixed assets clearing account, and create it as an asset in the FA module

6. True cost of stock Staff time and phone callsAgent feesInsuranceFreightDutyItem price paid to supplier

7. Get this wrong and you will not know what is making you a profit or a loss

8. WHY ISN’T THIS CALCULATED IN ATTACHE? Variables in adding to cost of a product Insurance on value Items varying widely in value, cannot allocate easily Dangerous or perishable goods may have a different rate Method of transport affects freight costs By plane, weight is a consideration By ship, space taken is a consideration Dangerous or perishable goods may have a different rate

9. If you do service jobs, you should use Cost Centres COMPARATIVE TOTAL IS IN GBP ON COSTS IS IN KINA

10. These are the total of all extra costs involved with this product ZOOM IN TO ADD THE ON COSTS

11. If you do service jobs If you rent properties If you do warranty work Use Cost Centres, and put stock usage, staff time, and outside services against the cost centre to see what real profits or losses you are making

12. This is the purchasing system for stock Requisitions Goods Received Supplier Invoice Goods Returned Supplier Credit Note Purchase Order If any of these steps are kept manual, all staff do not have full information If you have field manual POs, enter them in here to have full information Each document feeds into the next. Information is entered only once

13. If you sell physical products or services, get a Web Shop If you do not, you can be sure that your competitors will These will feed straight into your Attaché as orders or invoices (your choice)

14. OVERVIEW Stock usage – when it is an asset, when it is not. Flow of the purchasing system, and how Fixed Assets is involved.

15. W ATCH HOW A FIXED ASSETS IS TREATED

16. Create the invoice using a sundry line

17. Here are the resulting postings to the GL

18. Create the asset in Fixed Assets

19. Process this asset in Fixed Assets, and then post to the GL

20. Understanding the Suppliers Module

21. Local Suppliers They are in your country You trade regularly with them Foreign Suppliers They are not in your country Usually you trade in a different currency Once only Suppliers You do not expect to have more than one transaction with them

25. CONTROL YOUR STOCK AND YOU CONTROL YOUR COMPANY

26. C ONTROL YOUR STOCK AND YOU CAN CONTROL YOUR COMPANY