V 03.02.01 Slide 1V 1.0 Slide 1FMP/Sales & Stock
FMP – Sales & Stock
Account Clerk
SchoolPrincipal
1. Set Up2. Maintenance3. Pre-Year End4. Year End5. Enquiry6. Report
FMPCommon
Setup
Budgeting
Bookkeeping
Staff Cost
Capital Asset Register
Sales & StockOther Registers
1. Setup
V 03.02.01 Slide 2V 1.0 Slide 2Setup
Sales & Stock - Setup
• The Sales and Stock setup function provides the following basic functions for preparation of stock management.
- Maintain Category- Maintain Stock Master- Maintain Analysis Code- Maintain Costing Method- Maintain Default Unit
• Once all setup functions have been done, user can proceed to maintain Stock In Details, Stock Out Details and Write-Off for stock items registered in Purchase / Sales vouchers created in Bookkeeping and Sales and Stock Modules.
V 03.02.01 Slide 3V 1.0 Slide 3Setup
Category
School Badge
Sales & Stocks – An Example
Stock Code
Metal Badge
Analysis Code
Junior
Senior Exercise Book
Woven Badge
Knitted Badge
Maths Exercise Book
Single Line Exercise Book
Double Line Exercise Book
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Category
Sales & Stock - Category
• A stock category is used to bundle a group of stock master records with similar nature.
• Every stock code will be categorized under a category to facilitate the filtering of stock master records when performing maintenance of Stock In Details and Stock Out Details.
• If user has converted Stock Category from Stock Ledger of SAMS, please read the following data conversion rule:
- Ledger Code in SAMS with a ‘0’ inserted after the second digit is converted to Category Code in WebSAMS. For example, SAMS Ledger Code 561 is converted to WebSAMS Ledger Code 5601.
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Add CategoryAdd Category
- This function allows user to create a new stock category.
- User should create stock category before creating stock master records.
- By default, effective status of all newly created categories will be set to “Active”.
- No duplicated category code is allowed.
V 03.02.01 Slide 6V 1.0 Slide 6Add Category
Step 1. Click [Sales & Stock] [Setup] from the left menu
By default, it displays the page of Category
Step 2. Click [Add] button
Add Category
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Step 3. Fill in the fields
Step 4. Click [Save] button
Add Category
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Update CategoryUpdate Category
- This function allows user to update an existing stock category.
- User may change the description and effective status of the category.
- Updated description will appear on all the online screens and newly generated reports after the change.
- Change in effective status will be effective instantly.
V 03.02.01 Slide 9V 1.0 Slide 9Update Category
Step 1. Click [Sales & Stock] [Setup] from the left menu
By default, it displays the page of Category
Step 2. Enter the search criteria
Step 3. Click [Search] button
Update Category
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Step 4. Click [Category Code] hyperlink
Update Category
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Step 5. Update the fields
Step 6. Click [Save] button
Update Category
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Delete CategoryDelete Category
- This function allows user to delete an existing stock category.
- User is not allowed to delete category, if any stock master record has been categorized under this category.
- Instead of deleting a category, user may consider setting the effective status of the category to “Inactive” if the category is no longer in use.
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Step 1. Click [Sales & Stock] [Setup] from the left menu.
By default, it displays the page of Category
Step 2. Enter the search criteria
Step 3. Click [Search] button
Delete Category
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Step 4. Select the checkbox(es) next to the [Category Code]
Delete Category
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Step 5. Click [Delete] button
Note:Deleting Category is not allowed, if any stock master record with this stock category exists.
Delete Category
V 03.02.01 Slide 16V 1.0 Slide 16Stock Master
Category
School Badge
Sales & Stocks – An Example
Stock Code
Metal Badge
Analysis Code
Junior
Senior Exercise Book
Woven Badge
Knitted Badge
Maths Exercise Book
Single Line Exercise Book
Double Line Exercise Book
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Stock Master
Sales & Stock - Stock Master• A stock code is a stock item or goods, which will be categorized under a stock category for stock management.
• Stock code is required to identify the purchase / sales stock item when filling in Stock In / Out Details.
• If user has converted Stock Code from Stock Item of SAMS, please read the following data conversion rule:
- Stock Item in SAMS is converted to Stock Code in WebSAMS. For example, SAMS Stock Item 001 is converted to WebSAMS Stock Code 001.
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Add Stock MasterAdd Stock Master
- This function allows user to create a new stock code.
- User should create stock category before creating stock master records.
- Every stock code will have a base unit. Depending on the value user set in [Sales & Stock] -> [Setup] -> [Default Unit], it will become the default base unit when creating stock code record. User may change the base unit at the time of Stock Code record creation.
- Examples of stock unit include unit, piece, pair, dozen, score and gross.
- No duplicated stock code is allowed.
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Step 1. Click [Sales & Stock] [Setup] from the left menu.
Step 2. Click [Stock Master] tab
Step 3. Click [Add] button
Add Stock Master
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Step 4. Fill in the fields
Add Stock Master
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Step 5. Click [Save] button
Add Stock Master
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Update Stock MasterUpdate Stock Master
- This function allows user to update an existing stock master record.
- User may change stock code information and effective status of the stock code.
- Updated information will appear on all the online screens and newly generated reports after the change.
- Change in effective status will be effective instantly.
V 03.02.01 Slide 23V 1.0 Slide 23Update Stock Master
Step 1. Click [Sales & Stock] [Setup] from the left menu.
Step 2. Click [Stock Master] tab
Step 3. Enter the search criteria
Step 4. Click [Search] button
Update Stock Master
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Step 5. Click [Stock Code] hyperlink
Update Stock Master
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Step 6. Update the fields
Step 7. Click [Save] button
Update Stock Master
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Delete Stock MasterDelete Stock Master
- This function allows user to delete an existing stock code.
- Deletion of the stock code is not allowed if any Stock In Details with this stock code exists.
- Instead of deleting a stock code, user may consider setting the effective status of the stock code to “Inactive” if the code is no longer in use.
V 03.02.01 Slide 27V 1.0 Slide 27Delete Stock Master
Step 1. Click [Sales & Stock] [Setup] from the left menu.
Step 2. Click [Stock Master] tab
Step 3. Enter the search criteria
Step 4. Click [Search] button
Delete Stock Master
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Step 5. Select the checkbox(es) next to the [Stock Code]
Delete Stock Master
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Step 6. Click [Delete] button
Note:Deleting stock code is not allowed, if any Stock In Details with this stock code exists.
Delete Stock Master
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Analysis Code
Sales & Stock - Analysis Code• An analysis code is used to characterize stock master records and facilitate user to fine tune the searching criteria in all online enquiry and reports.
• It is optional for user to use analysis code.
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Add Analysis CodeAdd Analysis Code
- This function allows user to create a new analysis code.
- By default, effective status of all newly created analysis codes will be set to “Active”.
- No duplicated analysis code record is allowed.
V 03.02.01 Slide 32V 1.0 Slide 32Add Analysis Code
Step 1. Click [Sales & Stock] [Setup] from the left menu.
Step 2. Click [Analysis Code] tab
Step 3. Click [Add] button
Add Stock MasterAdd Analysis Code
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Step 4. Fill in the fields
Step 5. Click [Save] button
Add Stock MasterAdd Analysis Code
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Update Analysis CodeUpdate Analysis Code
- This function allows user to update an existing analysis code.
- User may change the description and effective status of the analysis code.
- Updated description will appear on all the online screens and newly generated reports after the change.
- Change in effective status will be effective instantly.
V 03.02.01 Slide 35V 1.0 Slide 35Update Analysis Code
Step 1. Click [Sales & Stock] [Setup] from the left menu.
Step 2. Click [Analysis Code] tab
Step 3. Enter the search criteria
Step 4. Click [Search] button
Update Analysis Code
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Step 5. Click [Analysis Code] hyperlink
Update Analysis Code
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Step 6. Update the fields
Step 7. Click [Save] button
Update Analysis Code
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Delete Analysis CodeDelete Analysis Code
- This function allows user to delete an existing analysis code.
- User is not allowed to delete analysis code, if any stock master record with this analysis code exists in Stock In Details.
- Instead of deleting an analysis code, user may consider setting the effective status of the analysis code to “Inactive” if the code is no longer in use.
V 03.02.01 Slide 39V 1.0 Slide 39Delete Analysis Code
Step 1. Click [Sales & Stock] [Setup] from the left menu.
Step 2. Click [Analysis Code] tab
Step 3. Click [Search] button
Delete Analysis Code
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Step 4. Select the checkbox(es) next to the [Analysis Code]
Delete Analysis Code
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Step 5. Click [Delete] button
Note:Deleting Analysis Code is not allowed, if any Stock In Details with this analysis code exists.
Delete Analysis Code
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Costing Method
Sales & Stock - Costing Method• This function allows user to select a default costing method for the sales and stock activity on any accounting years created in the system.
• Specified costing method will be applied to all sales and stock activities as default value to compute the profit and loss of all the sales and stock activities for that particular accounting year.
V 03.02.01 Slide 43V 1.0 Slide 43Costing Method
Costing Method
• First In First Out – FIFO (Default)
• Last In First Out - LIFO
• Weighted Average
3 methods available in the system:-
• Setup must be performed yearly, otherwise, FIFO will be taken as selected for the new year.
V 03.02.01 Slide 44V 1.0 Slide 44FIFO Costing Method
Costing Method – First In First Out
Date of Purchase
01/09/2003
15/09/2003
Quantity
1000pcs
500pcs
Unit Cost
$10
$12
Date of Sale
16/09/2003
Quantity
1200pcs
Unit Selling Price
$15
Quantity Out
1000pcs
200pcs
Unit Cost
$10
$12
Profit
$5000
$600
V 03.02.01 Slide 45V 1.0 Slide 45LIFO Costing Method
Costing Method – Last In First Out
Date of Purchase
01/09/2003
15/09/2003
Quantity
1000pcs
500pcs
Unit Cost
$10
$12
Date of Sale
16/09/2003
Quantity
1200pcs
Unit Selling Price
$15
Quantity Out
700pcs
500pcs
Unit Cost
$10
$12
Profit
$3500
$1500
V 03.02.01 Slide 46V 1.0 Slide 46Weighted Average Costing Method
Costing Method – Weighted Average
Date of Purchase
01/09/2003
15/09/2003
Total:
Quantity
1000pcs
500pcs
1500pcs
Unit Cost
$10
$12
Date of Sale
16/09/2003
Quantity
1200pcs
Unit Selling Price
$15
Quantity Out
1200pcs
Weighted Average Cost: $(10 x 1000 + 12 x 500) /1500 = $10.67
Unit Cost
$10.67
Profit
$5200
V 03.02.01 Slide 47V 1.0 Slide 47Maintain Costing Method
Step 1. Click [Sales & Stock] [Setup] from the left menu.
Step 2. Click [Costing Method] tab
Step 3. Enter the Accounting Year
Maintain Costing Method
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Step 4. Click [Search] button
Maintain Costing Method
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By default, the costing method is First In First Out
Maintain Costing Method
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Step 5. Click to change the Costing Method
Maintain Costing Method
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Step 6. Click [Save] button
Maintain Costing Method
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Sales & Stock - Default Unit• Default unit is the base unit for the creation of stock code.
• User may change the base unit when creating stock code.
Default Unit
V 03.02.01 Slide 53V 1.0 Slide 53Maintain Default Unit
Step 1. Click [Sales & Stock] [Setup] from the left menu.
Step 2. Click [Default Unit] tab
Maintain Default Unit
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Step 3. Enter the new Default Unit
Step 4. Click [Save] button
Press
ESCAPE
to return
Maintain Default Unit