STOCK JOURNAL: Manufacturing Units

STOCK JOURNAL:            Manufacturing Units

            This voucher type is used to record issues of raw materials to the production department. Production of finished goods, theft or pilferage of raw materials or finished goods, return of unutilized raw materials from the production department to the store or godown.

1. Issue of raw material from godown or stores is recorded under source column.

2. The production of finished goods is recording under destination column. The issues and productions are recorded by entering the following details.

a) Name of the item. b) Quantity c) Rate d) Amount.

3. The rate of raw material issued will be the average purchase cost which will be automatically entered by the system.

4. The quantity of finished goods will be based on actual physical counting or wieghment at the end of each shift. The cost of finished goods will be based on the cost sheets maintained in the production department either manually or buy using some other application software. This can also be calculated in tally by altering the “Stock journal” voucher type to “Manufacturing journal”. The selling rate can also be calculated by adding the profit margin.

5. The theft of raw material or finished goods are recorded under source column.

6. The return of raw material from the production process to the store or godown are recorded under under destination column.

7. The transfer of materials from one godown to another will be recorded under both sides i.e source and destination in two separate vouchers.

            All the entries recorded in the stock journal will be reflected in the stock summary, trading A/c, balance sheet etc.