TurboCASH Accounting Software TurboCASH United Kingdom
Select your Country
OPEN SOURCE ACCOUNTING SOFTWARE
HomeFeatures & ScreenshotsShop onlineCompareFAQForumRegisterContact
Community
Free Downloads
Shop
Other Titles

Using TurboCASH

 







STOCK ITEMS
CREATE OR EDIT SERVICE STOCK ITEMS
  
In order to create an invoice or other documents, a valid Stock Items must exist in the Stock Item master record file. If you want to invoice both Stock Items and Services on the same Invoice, you need to create a Service Stock Item ("Dummy Stock Item").

Should your business not trade in physical Stock Items, but only sell services, you also need to create a Service Stock Item.

The process is basically the same as for creating a physical Stock Item in TurboCASH. The main difference between a physical Stock Item and a Service Item is, the following:
  • Quantities on hand - The physical Stock Items have quantities (stock on hand), since you cannot sell these Stock Items, if you do not have Physical quantities at hand. Service Items do not have quantities at hand.

     

  • Cost Prices and Cost of Sales - The physical Stock Items are purchased at a certain price, which is the Cost Price. When you sell these physical Stock Items, the Stock is reduced and the Cost of Sales is charged with the Cost Price of the Stock Item. This is not applicable to Service Items.
To Create a Service Stock Code:
Click on the Input - Adjust Stock menu option or press the and and keys on your keyboard. The Stock Item (Standard tab) screen and the Stock Item search facility screen will be displayed. Press the key on your keyboard to exit the Stock Item search facility screen.

Title bar - double-click to display the screen in full size or to return to the normal size. Close button - click to close or exit this screen. Select to create, edit or delete a Stock Item. If selected, you may edit the data in the columns for each Stock Items. Select to adjust stock items on one of the standard adjustment options. Select to search for an available Stock Item. Click OK to save your changes and to process this screen. Click to close or exit this screen. Enter a Stock Code for a new Stock Item or select a valid Stock Item Code. Enter or edit a Descriptions for a selected Stock Item. The Average Cost will be updated, once documents have been processed. Select a Stock Group from the list if you have set Stock Reporting Groups. Enter or edit barcodes for a selected Stock Item, if you use barcodes. Select a unit from the list. The Quantity on Hand will be updated, once documents have been processed. Select a Stock Group from the list if you have set Stock Reporting Groups. Select to apply discount on Invoices. Select the Sales Account. Select the Cost of Sales Account. This can only be selected, if the Use Cost of Sales is selected in the Setup Stock Information menu. Select the Stock Control Account. Select the Input - (Purchases) Tax Code for this Stock Item, if you are registered for VAT. Select the Output - (Sales) Tax Code for this Stock Item, if you are registered for VAT. Enter or edit the minimum level for the Stock Item, when you should consider to re-order. The Total Cost will be updated, once documents have been processed. It is the Cost Price multiplied by the Quantity on hand. The Latest Cost will be updated, once documents have been processed. Enter up to 3 selling prices exclusive of VAT for your Customers or Debtors. Select to create a new Stock Item. Click to delete a selected Stock Item. The last invoice number will be displayed if any invoices for the Stock Item was generated. Enter up to 3 selling prices inclusive of VAT for your Customers or Debtors. Click to change the Stock Item code. Minimise button - click to minimise this screen. Click to restore this screen to its original size.
Enter and select the following:

Option Description
Stock Code 0.. or enter any code for your service stock item. It is important for you to plan the Stock Item codes, as to optimise this facility in TurboCASH.
Bar Code Leave blank.
Description Leave blank - if you are going to use this stock code for many descriptions.

If you have more than one service item, you may enter descriptions for each of these service items, e.g. labour, consulting fees, etc.
Apply Invoice Discount You may select this field to allow any discounts at the percentage Customer Discount as specified on the Edit - Accounts - Debtors (Accounting Information tab) for the selected debtor accounts. If this field is blank, no discounts will automatically be calculated for this stock item.
Stock Group 1 / Group 2 Select any available stock group if you have created stock groups in the Setup - System Parameters - Groups (Stock tab).
Unit size Leave blank or select any unit e.g. hours, etc., which you wish to be displayed on your Invoices.
Latest Cost Leave blank. This field should always be blank. If an amount is entered, a cost of sales amount will be calculated and a transaction would be generated.
Input Tax Input VAT (if you are registered for VAT)
Output Tax Output VAT (If you are registered for VAT)
Re-order Level Leave blank
Selling Price: 1/2/3 Leave blank, if your fees will differ. If you have a fixed fee (e.g. per hour), enter your hourly rate.
Sales Account Select the Sales Account
Cost of Sales Select the Cost of Sales Account (only if you are also using physical Stock Items and the Use Cost of Sales field has been activated on the Setup - System Parameters - Stock Information menu option).
Stock Control Select the Stock Control Account

Click on the button to save your changes. You may press the key on your keyboard to close or exit the Stock Item search facility. If you wish to create another item, enter the code or press the key on your keyboard to close or exit the Stock Item screen.

It is very important that the cost price is left blank. This is because when you create an invoice using this stock item, TurboCASH will automatically update your debtor, sales, output VAT, cost of sales and stock accounts. As this is not a physical stock item, you do not want the cost of sales and stock accounts to be updated with a value.