STOCK CONTROL

The Stock control is in two parts:
1) Adding, Editing and Deleting Categories of your Stock
Before you can add your Stock, you specify a category this stock item belongs to. You must have this, even if you only have one Category item. You have to do that for each tax year, and Categories are shared by all users for the given year. So if you had two businesses for a given tax year, say a car repair place and a fruit and vegetable store, and you had a Category named Tropical Fruits as a Category, this would also show up with you car business. But you don't need to use it. This software provides two default Categories and these are GENERAL CATEGORIES (TAXABLE) , and GENERAL CATEGORIES (TAXFREE). You don't have to use them, if you don't like, and you can edit or delete them as well if you like and create your own. Every time you change your tax year, you need to add you own Category items. Note that later updates of this software will provide an auto transfer from one tax year to the next.

You must specify if the stocked item contains a Goods and Services Tax (or equivalent such as VAT). If you have set your program for a Country other than Australia, and you set your application at the intial setup to "No Tax" or 0% tax, then the calculated tax in the reports will always be zero even if you set the TAXABLE column to true. This TAXABLE column is very important as it will calculate the reports according to this setting. In case you have a Category item that are the same, but one is TAXABLE and the other is not TAXABLE, they you will need to create two records, one that is TAXABLE and one that is NOT TAXABLE, and it is recommended to make it appearent when you chose the name of the Category.

In Australia for example, at the date when this help file was created, educational material, education, medicines, fresh fruits and uncooked food item are tax free. So you would make sure that the TAXED column would be un-checked.

 

2) Adding, Editing and Deleting your Stock